It Is Possible To Not Have a Credit Report At All?

It is quite possible to not have the credit report at all.  Many people are under the misconception that a credit report for an individual is created when you are issued a security Social Security number.  In fact there is no correlation between the two.  A credit report only gets created when you open a credit account and the details of your credit get reported to the National credit agencies.  If you have never had the credit account then it is quite possible for you not to have a credit history at all.  It is also possible that the creditors you deal with do not report their data to the National credit agencies.

Creditors have a right to choose to report not report information about their consumers to the National credit bureaus under the fair credit reporting act.

In order to maintain a credit score active and current data needs to be reported to the National credit agencies at least once in a minimum duration of time which may be six months, 12 months of 24 months depending upon credit scoring model in use. If you had active credit accounts at some point of time but have closed them more than 10 years back, those accounts will no longer reflect in your credit history, provided there was no negative information attached to those accounts.

If the negative information such as the delinquency of an account is reported that such an account gets deleted from a credit report seven years from the date that it was reported as delinquent to the credit bureau.  In order to re-establish credit report any to apply for fresh credit.

You may start a fresh credit account with the creditor that you dealt with in the past or get someone to sign as the guarantor and security. You may also ask somebody to back you as a joint account holder as you may have problems getting a credit account initially as you have no credit report to base the lending decision upon.  Once you have established a credit report of your own you will be in a position to qualify for credit on your own.

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