How long does it take...?

Question

How long does it take for someone's Credit to get established?? For example, I've had a credit card for only 3 months.. after how long will I be given a credit score and credit history to prove to other institutions that I have an established Credit history??

Answer 1

Typically, it can take 3 tradelines for the credit bureaus to be able to acknowledge a file for you. Once you're in their system; you can then retrieve a FICO score.

Aging is a large factor of the scoring system. The older the accounts are the better. Creditors will like to see a strong pay history thus the need for aging. Keep in mind when you apply and open new credit lines it reduces the "average" age of your accounts and in turn can cause a temporary score reduction. As the new accounts age, your score will rebound.

6 months is a good "measure" of lapse time inbetween account openings.