Question
I have credit card but no Credit History?
have only a MBNA credit card from 4 months. But when I recently applied for another card from Capital one, It was turn down saying that, my credit history information is not available. This was report by all the three major credit bureau companies. How come I don’t have a credit history when I am using a credit card from last 4 months?
3 years ago - 4 answers
Best Answer
Chosen by Asker
It take time to build a good credit history. That's why I tell folks to try to get a card when they are a teen and begin working on their credit. For now, look into getting a store/gas credit card. Maybe take out a small loan from the bank, and pay it back in a few months. Use the card you have often. Use it for purchases you normally pay cash for, like utilities or groceries. PAY IT OFF at the end of the month.
by Studly
3 years ago
Asker's Rating: 
Other Answers
You need to use that card at least for a year, max it out and pay it off ASAP, then do it again. This is the only way to build credit in this backwards system of capitalism we have. You must create debt. and pay it off in a timely manner in order to go from no credit history to having good credit. A persons word, bank account, and work history is not enough these days to be considered a non-credit risk, it's sad but true.
by Later Me- 3 years ago
The "Turn Down" may have actually been for "limited credit history". You need to check for user error. Did they type your SS# incorrectly, etc... Also, are you the primary card holder. If so, you should see an account on your report in about another 2 months or so. The account info will tell what your limit is, your balance as of the last reporting and your current minimum monthly payment. You do not need to use the card to have the account show on your report. However, using the card may increase you limit which will also increase your credit score in most cases. The bureau is interested in how much of your available credit is not being used. Finally, you can call MBNA and ask which bureaus they have reported your account to. At 4 months, your account should be showing up.
by Jonathan Bailey- 3 years ago