question about the length of credit history

[Anonymous]

how old you should have history before lenders consider giving you credit cards and car loans???

1 year

2 years

3 and more

i had it for almost a year all accounts in good standing

[RobertEG]

Lending decisions are totally at the discretion of the perspective creditor, based on a total review of both your credit score and your individual CR.

Their policies vary. 

[Anonymous]

thanks for this answer so you are saying that i can have short credit history but if i have good history and never missed a payment etc that i can get a car depending on the creditor policy ??

[Anonymous]

Odds are that if you have a job and you have no baddies, you can probably get a car loan for a car less than three-five years old.

The only question is how much will it cost you, and can you afford that.

The difference between the 1.99% I can qualify for at Navy Federal Credit Union, and the 13.5% DW paid on a car before we got married is a lot. Here are the two payments on a $15,000 loan:

1.99% for 48 months (4 years)

$325/month

13.5% for 48 months (4 years)

$617/month