Years in file ??

Discussion in 'Credit Talk' started by cream, Apr 17, 2001.

  1. cream

    cream Active Member

    My question is about "years in file" I have a friend that's 25 and has very limited credit. She owns an internet business and when she started it she financed web site design, hardware, and software from an in house finance company. She's never used any other credit (never even applied for any) Recently, she starterd thinking about buying a house and wondered about her credit. It turned out she had none. The in house company didn't report to the bureaus when she opened her accounts. However, they have since started reporting to Equifax. She contacted the company and they agreed to report
    her history in full. The info they reported is what actually created her credit file (no history before that) So her file was created in 2001 but has a history dating to
    1995! Anyone know how this is viewed? Is the "years in file" from when the file was created or the date of the oldest trade? Thanks!!..sorry for the long post
  2. mvfl

    mvfl Guest

    I would think it goes to the date of the oldest trade. Creditors are looking for accounts that have been open for a long time and this account quailifies so she shouldn't be penalized just because the CRA's didn't have a file.

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