Anonymous asked in Business & FinanceCredit · 3 weeks ago

How does credit work ? ?

I just got a new car from a dealership sometime in May. I had no credit so I thought this would be a great way for me to build it. Payments on the car started in June and I’ve been paying my car note on time every week (I had to pay weekly car payments because of me having no credit) but I checked credit karma today, in July and my credit says N/A. Why is that ?

*Side bar my lease is through autotrakk and apparently they don’t report credit to all major credit bureaus .. could this be the problem ? 

3 Answers

  • Anonymous
    3 weeks ago

    Every week?usually if it’s a private dealer it will be  biweekly Or monthly so you can get paid first From your job.I don’t how no credit has anything to do with it usually they want a larger down payment to get the car if you have no credit.

  • Eva
    Lv 7
    3 weeks ago

    Did you buy or lease?  It's pretty early for payments to have been reported to the credit bureaus. It will probably take a couple of months for it to show. It's a gradual process.

  • 3 weeks ago

    Yes, you just solved the mystery. I  can assure you that if you are late they will though.

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