How long does it take?

[Anonymous]

If you have a new credit card account, how long does it usually take for you to have established yourself as a good customer?  Six months of on-time payments?  A year?   More than that? 

[Anonymous]

In the beginning, they go by FICO.

After about six months, your payment history with them begins to figure into their reckoning of you as a customer. Keep good history for a year or so, and at least some overall credit sins and marginal FICO can be forgiven. If your credit history is really checkered, you might need 15 to 18 months of good history.

I had FICOs in the mid to high 500s, with charge-offs, and got a secured BofA card. After getting my FICOs into the 600s, and maintaining a year of solid payment history and getting utilization down, they graduated the card last week.

The keys to getting CLIs are:

* don't get baddies anywhere else
* pay on time
* keep utilization 20% or less
* but DON'T sockdrawer the card. The CC cos want to see some usage.

Do this, and you will get CLIs. But like I said, if your CR is badly checkered, it might take some time.

[Anonymous]

I was just wondering because Nordstrom just upped my cl considerably.  That account will be a year old in July. 

No repo's or bk on my record, just a few old co and two ca which have all been paid.  The only thing holding back my score from being higher (since I have pay everything on time) are the old accounts that I paid off.  My paying them off recently brought my score down.  I really had no choice since I plan to buy a home next year. 

[Anonymous]

Your score--and your credit lines--should keep rising from here.

While paying old COs and collections does nothing for FICO, I have read anecdotal evidence that some revolving charge account and credit card companies view paid COs more favorably than unpaid.

[Anonymous]

It's interesting that my EQ score is the only one that shows a real hit from paying them off.  The other two are much better.