Recently turned 18 and have a credit card but i check my credit report and no score is posted. When should it be? Thank you
2007-10-18 05:14:23 · 6 answers · asked by [[Julian's Mommy]] 4 in Business & Finance ➔ Credit
Credit score is not included with your credit report. It has to be ordered separately. In fact a company that calculates it is an independent entity from reporting agencies.
The only place that can provide you with your score is http://www.myfico.com. The site belongs to Fair Isaac company and that is the only company that can provide you with FICO score (the one that lenders use). If you order your score from other places (directly from credit reporting agencies, for example) you are going to get a fake score called FAKO (Vantage Score, Plus Score and etc). The difference between FAKO scores and FICO score is like a difference between those two statements:
FICO: "You credit score is [number]"
vs
FAKO: "If you ask me, I guess your credit score could be something like [number]"
2007-10-20 23:23:56 · answer #1 · answered by Dr. Shakar 2 · 0⤊ 0⤋
In order to calculate a score it takes several months of activitiy on your credit report. If this is your only card it will probably be in the 6-12 month rage, if you have other items it may reduce this time.
What you need to do is use your card every month. Do not go over 30% of the balance. Then at the end of the month pay it off to avoid the interest charges. Doing this will help your score once it does get calculated.
However, even when you do have a score it will not have much weight in getting new credit. The reason is your history would still be considered new. For some creditors you need at least a couple of years of history.
2007-10-18 05:26:03 · answer #2 · answered by OC1999 7 · 0⤊ 0⤋
Does your credit card show up on your credit report? How long have you had the credit card?
If no score is posted, it probably means you are below the minimum level. You get a score by establishing a credit history. Use that card and pay it in full and on time every month. In 6 months, you'll have a history and a score.
2007-10-18 05:24:32 · answer #3 · answered by bdancer222 7 · 0⤊ 0⤋
The regular free credit report you can get annually from the bureaus doesn't contain a FICO credit score, only the underlying data. You have to pay to see the credit score.
2007-10-18 06:15:31 · answer #4 · answered by npk 7 · 0⤊ 0⤋
It takes at least 30 days once the credit cards report you into the bureaus.
2007-10-18 05:17:15 · answer #5 · answered by Peacenik 4 · 0⤊ 0⤋
careful with freecreditreport.com
they make it very hard to cancel before they start charging you.
no score is better then a bad score.. you have to get some cards, start renting, whatever, get the ball rolling, before they have anything to score you on
be careful!! you are at the perfect age for them to take advantage bc they know you want a score.
2007-10-18 05:18:12 · answer #6 · answered by pantiquay 2 · 0⤊ 0⤋