How long does it take to accumulate sufficient "credit history"?

Question

I opened up new accounts in early 2007, so I'm wondering now how long it would take until I end up having worthy and positive credit history. I've been paying everything on time, been getting a few credit limit increases too, so just wanted to know if I was on the right track.

2 years?

3 years?

5 years?

What's a good length of time which will count for you?

Answer 1

Maybe 6 months or a year. It also depends on the amount you are borrowing and repaying.

You are also entitled to a free credit report once a year from Experian or other agency.

Answer 2

2 years is the standard. That gives enough to for revolving credit, loans and credit cards a good workout to establish a suitable credit score/history. Whatever you do keep being consistent in your repayment habits.

Ultimately the longer the better but again 2 years is good.

Answer 3

Each and every lender establishes their own requirements.  Some will lend with no credit history and some are highly selective.

Most of the time, the greatest weight is given to the ost recent 24 months, so, if you have a 24 month history that is going to give you a lot.  However, if they're all credit cards and there's no mortgage or car loan, then you have a long but shallow history.  It's not just the length.

Answer 4

it should be good fine u pay it every month so its probably good go to freecreditreport.com and u can get ur score and everything u have to pAY FOR THAT BUT ITS WORTH IT

Answer 5

You are on the right track! Most credit issuing agencies will give you credit after showing a year or more of responsible bill paying, and banking. If you have not been late or missed any payments in a year then you should ask your bank or other credit issuing agency for a small personal loan. By paying it off in a responsible way, you will be able to get a larger loan such as a car loan or mortgage. Since you have already qualified for some credit increases chances are they will be more than willing to help you out! You are certainly on the right track though! Keep up the good work!