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New Member
Posts: 12
Registered: ‎03-21-2011
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Exactly when is your first credit score generated?

I know that in order to generate a credit score, you have to have had an open credit account for six months.  However, when do they start counting?  Does the clock start when you are approved for the first credit card (or loan, etc), or does it begin after you receive your first bill or something?

 

I opened my first credit card in mid February and was wondering if I'd generate a credit score by mid-August, or if it'll wait until September.

New Member
Posts: 12
Registered: ‎03-21-2011
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Re: Exactly when is your first credit score generated?

Oh, and what do you think my credit score will be if I pay off my entire balance before the score is generated?  I did have an emergency (lost my job and needed a cushion before a new one started) and charged almost the whole limit, but I'm currently at about 1/4 of my limit and can pay the rest off in early August.  I heard that credit scores don't have a "memory"...so will having almost maxed out my card previously hurt me?

Moderator Emeritus
Posts: 16,373
Registered: ‎03-12-2007
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Re: Exactly when is your first credit score generated?

Please read the Requirements For A FICO Score link in my sig line.

Credit Profile -
FICO 08 Scores (11-08-2014): EQ 818, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26+ years ~ AAoA: 12 years ~ Util: 1% ~ Inqs: EX 1

New Member
Posts: 12
Registered: ‎03-21-2011
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Re: Exactly when is your first credit score generated?

I'd read that after I first signed up.  I'm just trying to make sure I understood the language correctly.  The wording makes it seem like your credit score is generated 6 months after the card is first opened.  Am I understanding it correctly?  Or am I wrong and it takes 6 months from your first bill or something?  I just want a confirmation.

Moderator Emeritus
Posts: 16,373
Registered: ‎03-12-2007
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Re: Exactly when is your first credit score generated?

On your credit report, you need one account "opened" six months ago. That is the month you were approved for the account, not when your first statement cuts. I hope I answered your question.:smileyhappy:

Credit Profile -
FICO 08 Scores (11-08-2014): EQ 818, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26+ years ~ AAoA: 12 years ~ Util: 1% ~ Inqs: EX 1

New Member
Posts: 12
Registered: ‎03-21-2011
0

Re: Exactly when is your first credit score generated?

Yes it does, thanks!  That's how I'd understood it when I first signed up for the forum and my credit card in February.  Now that it's getting to the six month mark, I got paranoid that I'd misunderstood the wording and that I wouldn't generate a score as soon as I'd hoped.  Thanks for clearing that up.  Hopefully my score will be decent when I get it next month!  :smileyhappy:

Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007
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Re: Exactly when is your first credit score generated?

[ Edited ]

You should have a score generated now. Check your CRs. There's a field within each tradeline that says "Date Opened". They'll typically backdate it to the first of thatt month. So, if you opened it in February, it should show as "2/1/2011". Make sure it does say Feb., though. Six months later is July 1, 2011 (Feb, March, April, May, June & July). It should be showing now. If you try to order from myFICO, and for whatever reason they cannot generate a score due to whatever, then you won't be charged and any pending CC charge will disappear.

New Member
Posts: 12
Registered: ‎03-21-2011
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Re: Exactly when is your first credit score generated?

So if it shows you a score, it's genuine and not one of the "FAKO" scores?

 

I have accounts on Quizzle and CreditKarma.  It generated a score but I thought it was fake.

Moderator Emerita
Community Leader
Epic Contributor
Posts: 28,098
Registered: ‎04-01-2007
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Re: Exactly when is your first credit score generated?

[ Edited ]

angelheart520 wrote:

So if it shows you a score, it's genuine and not one of the "FAKO" scores?

 

I have accounts on Quizzle and CreditKarma.  It generated a score but I thought it was fake.


Yes, those are FAKO's, but if you order from myFICO, it's a FICO.

 

Your score doesn't actually exist until someone (you, a lender) pulls a score report. Then, as long as you've met the requirements for a score (don't forget, you can't be dead :smileywink:), your score will generate off of whatever is on that particular credit report at that moment.

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007
0

Re: Exactly when is your first credit score generated?

[ Edited ]

angelheart520 wrote:

So if it shows you a score, it's genuine and not one of the "FAKO" scores?

 

I have accounts on Quizzle and CreditKarma.  It generated a score but I thought it was fake.



If you purchase a FICO score and report from myFICO.com, then you have a real FICO score.

 

Quizzle and CreditKara offer scores, but those are not FICO scores. Those are FAKOs. Ignore them.

 

 

ETA....cursed by slow typing skills. What Hauling said.

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