cancel
Showing results for 
Search instead for 
Did you mean: 

Do I have this right?

tag
Anonymous
Not applicable

Do I have this right?

In order to generate a score I need to have one tradeline with 6 months payment history? Or could have multiple tradelines with less??

Sham
Message 1 of 9
8 REPLIES 8
Trying_Hard_Every_Day
Established Member

Re: Do I have this right?

Howdy!

 

In order for a FICO® score to be calculated, a credit report must contain these minimum requirements:

  • At least one account that has been open for six months or more
  • At least one undisputed account that has been reported to the credit bureau with in the past six months
  • No indication of deceased on the credit report (Please note: if you share an account with another person this may affect you if the other account holder is reported deceased).

The above was taken from here.

Starting (February 2015) - EX: 457 // TU: 431 // EQ: 421
Current (November 2015) - EX: 623 // TU: 597 // EQ: 605
End of year Goal - 600+ end of 2015
Future Goal - 800 across the board
Message 2 of 9
Anonymous
Not applicable

Re: Do I have this right?

I wonder what my score would be at 6 months if I remove the AU
Message 3 of 9
Anonymous
Not applicable

Re: Do I have this right?

I'm wondering the same thing Shamrock. I'm planning on slowly taking myself off as AU on my hubby's cards (and vice versa) after 6 months of having scores. Still waiting on EX and TU to give me scores. EQ is 626. Hubby is 621 TU, 646 EQ, and 620 EX.
Message 4 of 9
Anonymous
Not applicable

Re: Do I have this right?

When I first started in September, my one month old student loan was enough to generate TU and EQ scores.  Experian took me until late October, after 3 of my credit cards started to report.

 

All in all, I guess I was somehow exempt from the 6 month requirement.  YEMV.

Message 5 of 9
Anonymous
Not applicable

Re: Do I have this right?

Fico scores?
Message 6 of 9
Anonymous
Not applicable

Re: Do I have this right?

Straight from MyFico, yes.

Message 7 of 9
BallBounces
Valued Contributor

Re: Do I have this right?


@Trying_Hard_Every_Day wrote:

Howdy!

 

In order for a FICO® score to be calculated, a credit report must contain these minimum requirements:

  • At least one account that has been open for six months or more
  • At least one undisputed account that has been reported to the credit bureau with in the past six months
  • No indication of deceased on the credit report (Please note: if you share an account with another person this may affect you if the other account holder is reported deceased).

The above was taken from here.


So a minor can have a FICO score?

050719:     
021924:     


FICO 08 scores listed and are stagnated until multiple derogatory items expire over the next two years.
Message 8 of 9
Anonymous
Not applicable

Re: Do I have this right?


@BallBounces wrote:

@Trying_Hard_Every_Day wrote:

Howdy!

 

In order for a FICO® score to be calculated, a credit report must contain these minimum requirements:

  • At least one account that has been open for six months or more
  • At least one undisputed account that has been reported to the credit bureau with in the past six months
  • No indication of deceased on the credit report (Please note: if you share an account with another person this may affect you if the other account holder is reported deceased).

The above was taken from here.


So a minor can have a FICO score?


I would think so, yes.  Some naughty people use their child's SSN and open accounts.  They should have a score set after a few months, since they'll have established history.

Message 9 of 9
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.