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How long will it take for a secured cc to affect my Fico score?

Established Contributor

Re: How long will it take for a secured cc to affect my Fico score?

i have a card thats 10 years old a chard thats 4 years old and one thats 6 months old once my 6 month old account isnt new anyone its factored in as a normal account kinda like how you cant get your credit score until you have had a account open at least 6 months.



 

Transunion - 788 05/16
Experian - 745 05/16
Equifax - 740 05/16
Message 11 of 16
Senior Contributor

Re: How long will it take for a secured cc to affect my Fico score?


Jonbuck06 wrote:

i have a card thats 10 years old a chard thats 4 years old and one thats 6 months old once my 6 month old account isnt new anyone its factored in as a normal account kinda like how you cant get your credit score until you have had a account open at least 6 months.



 


I think there was a mistake in the calculation or report that caused this bizarre November score.   If the new card was excluded it should have been 7 years, if included, it would have been about 4 years.   Your explanation does not account for a 1 year AAoA.

Message 12 of 16
Established Contributor

Re: How long will it take for a secured cc to affect my Fico score?

well thats not the only cards i have on there haha

Transunion - 788 05/16
Experian - 745 05/16
Equifax - 740 05/16
Message 13 of 16
Moderator Emeritus

Re: How long will it take for a secured cc to affect my Fico score?

I agree with the others that your AAoA will not go up 3 years after a new account has aged 6 months. Or should I say it's not supposed to do that.

 

I'm not sure what has happened. Were you added as an AU during that 6 months?

 

 

 

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Message 14 of 16
New Visitor

Re: How long will it take for a secured cc to affect my Fico score?

I have had the same exact capitalone secured card for three months now, it has reported my payment history on my credit report but it has not improved my score yet. I was told that it takes atleast 6mon before it affects your credit score positvely. Another way to get the score up is to raise the credit limit

Message 15 of 16
New Member

Re: How long will it take for a secured cc to affect my Fico score?

On the topic of secured cards, I have a cap1 with $100 deposit/$250 limit that's about 3 months old.  No previous credit history.  I originally thought that the payment history was the only important part of a secured card but I've been wondering about the limit recently.  Would a higher deposit help me raise my score more quickly, or get a better CL on an unsecured card?  And would it be beneficial to have a second secured card?

 

Message 16 of 16