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Question about absolutely no credit history

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Tischer712
Regular Contributor

Question about absolutely no credit history

My girlfriend has absolutely no credit history. She got a BB&T Unsecured credit card with a decent 2.5k limit. My question is, I have read that If you have no information over 6 years you will not generate a score. Does this mean for 6 months it will come  up as No Record was found until she has passed the 6 month period?


Starting Score: myFico Scores Equifax 544 Transunion 585
Current Score: myFico Scores Equifax 655 Transunion 663 Experian 645
Goal Score: 700 Across the board


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Message 1 of 16
15 REPLIES 15
Anonymous
Not applicable

Re: Question about absolutely no credit history

With "credit" I am learning that just about anything is possible but, in my case, with no FICO score, I am not eligible for any kind of unsecured credit card, much less one with a $2,500 limit.  I have to use secured credit cards for at least 6 months and, on the 7th month, THEN I can check FICO to see if a score has been generated, but not before.  And, I KNOW I won't be able to get a credit limit anywhere near what your girlfriend got. 

 

Your girlfriend got lucky somehow -- that's amazing!!!

Message 2 of 16
llecs
Moderator Emeritus

Re: Question about absolutely no credit history


@Tischer712 wrote:

My girlfriend has absolutely no credit history. She got a BB&T Unsecured credit card with a decent 2.5k limit. My question is, I have read that If you have no information over 6 years you will not generate a score. Does this mean for 6 months it will come  up as No Record was found until she has passed the 6 month period?


As mentioned, to generate a FICO score you have to have an open and active account older than 6 months old. in your GF's case, you can info over 6 years old and still generate a score, if open. Positive accounts will generally report for 10 years from when it was closed.

Message 3 of 16
Tischer712
Regular Contributor

Re: Question about absolutely no credit history

I have having a lot of mistypes. I meant if you have no info over 6 months (not 6 years). If her new credit card just starts reporting, will we have to wait 6 months to see a score. Reason I am asking is because we are trying to get a mortgage but a joint one.


Starting Score: myFico Scores Equifax 544 Transunion 585
Current Score: myFico Scores Equifax 655 Transunion 663 Experian 645
Goal Score: 700 Across the board


Take the FICO Fitness Challenge
Message 4 of 16
Anonymous
Not applicable

Re: Question about absolutely no credit history

This question is for the experts, how could his girlfriend been approved for an unsecured card with no FICO score (not to mention with a 2500CL) is that even possible?

 

To the OP, have you tried pulling a EQ or TU report for her?

 

You can purchase either or both here at MyFico.

 

 

Message 5 of 16
Anonymous
Not applicable

Re: Question about absolutely no credit history


@Anonymous wrote:

This question is for the experts, how could his girlfriend been approved for an unsecured card with no FICO score (not to mention with a 2500CL) is that even possible?

 



My only expertise comes from personal experience -- getting an unsecured credit card with NO FICO has not been possible in my case.

Message 6 of 16
Anonymous
Not applicable

Re: Question about absolutely no credit history


@Anonymous wrote:

@Anonymous wrote:

This question is for the experts, how could his girlfriend been approved for an unsecured card with no FICO score (not to mention with a 2500CL) is that even possible?

 



My only expertise comes from personal experience -- getting an unsecured credit card with NO FICO has not been possible in my case.


I would think she had some sort of history, some closed TL listed from years ago maybe?

 

I can't see a lender approving an unsecured 2500CL CC to a consumer with absolutely no history or FICO score.

Message 7 of 16
Tischer712
Regular Contributor

Re: Question about absolutely no credit history

When we pulled her scores, experian has 3 negatives for old medical bills. Transunion and Equifax shows up with no record. We had applied for a secured card for her and she got the unsecured card. Not exactly sure how it worked out for her. We definitley were not going to complain. We just wanted to try and apply for a mortgage in March 2012. So we only have about three months. Just was not sure if we would have to wait 6 months for Equifax and Transunion to generate her a score.


Starting Score: myFico Scores Equifax 544 Transunion 585
Current Score: myFico Scores Equifax 655 Transunion 663 Experian 645
Goal Score: 700 Across the board


Take the FICO Fitness Challenge
Message 8 of 16
llecs
Moderator Emeritus

Re: Question about absolutely no credit history


@Anonymous wrote:

This question is for the experts, how could his girlfriend been approved for an unsecured card with no FICO score (not to mention with a 2500CL) is that even possible?


I'm just a novice, but my very FICO CC was a Discover at a $500 CL. I absolutely had nothing whatsoever reporting on my CR. Within 6 months of that, I was approved for a Citi, and that's before a FICO would have been generated. I'd say it is possible to get an unsecured CC with no FICO, but very difficult. Now grant it, this was 15 years ago.


 

Message 9 of 16
Anonymous
Not applicable

Re: Question about absolutely no credit history

I noticed today reading through some posts that other members here are saying they were able to get the Capital One "Newcomer's Card" without any credit history or FICO but their limit was more in the $300--$500 range. 

Message 10 of 16
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