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Regular Contributor
Posts: 176
Registered: ‎03-20-2007
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High score but no open accounts

My boyfriend has very high credit scores, (762 and 797 which we checked on MyFico recently), but we're wondering if its possible for him to open up a credit card with no history of CCs or loans since 1999 (yup, its been that long!).
4/23/16: 568 (EQ), 605 (TU), 595 (EX)
Valued Contributor
Posts: 1,072
Registered: ‎02-15-2009
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Re: High score but no open accounts

Whats the history like (good and bad) before 1999 and after? He should be fine is what I am thinking.
Moderator Emerita
Posts: 28,095
Registered: ‎04-01-2007
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Re: High score but no open accounts

I dunno, you'd be amazed; a lot of banks are gutless wonders when it comes to dealing with someone without recent credit history.

Who does he bank with, and do they offer a CC? He might want to investigate that first, if he's had a long (and positive) relationship with them.
* 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
Regular Contributor
Posts: 176
Registered: ‎03-20-2007
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Re: High score but no open accounts


nothingman02 wrote:
Whats the history like (good and bad) before 1999 and after? He should be fine is what I am thinking.

 

It's good. Only 3 accounts with $0 balances. That's what I thought too....he should be ok. We're gonna try tonight to apply for a CC.
4/23/16: 568 (EQ), 605 (TU), 595 (EX)
Regular Contributor
Posts: 176
Registered: ‎03-20-2007
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Re: High score but no open accounts


haulingthescoreup wrote:
I dunno, you'd be amazed; a lot of banks are gutless wonders when it comes to dealing with someone without recent credit history.

Who does he bank with, and do they offer a CC? He might want to investigate that first, if he's had a long (and positive) relationship with them.

 

He hasn't banked with anyone in the last few years but we just opened up a joint checking/savings together. Too bad he hasn't banked with anyone in the last few years...it probably would've been easier to get a CC thru them!
4/23/16: 568 (EQ), 605 (TU), 595 (EX)
Moderator Emerita
Posts: 28,095
Registered: ‎04-01-2007
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Re: High score but no open accounts

I'm curious --if he hasn't had any active credit in the last six months, which is how I read your first post, how does he have FICO scores? I thought he hadn't had anything since 1999.
* 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
Valued Contributor
Posts: 1,072
Registered: ‎02-15-2009
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Re: High score but no open accounts

I think he would need atleast 6 months of history. Need not necessarily be in the last 6. But 1999 is a decade ago. Its too long and with no recent history, Id be curious to know what would happen.
Moderator Emerita
Posts: 28,095
Registered: ‎04-01-2007

Re: High score but no open accounts

minimum requirements for FICO score

In order for a FICO® score to be calculated, a 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).

Something has to still be reporting. Mortgage, maybe? Or a closed account that is still updating?

ariesdreamer, if it's the second, and these accounts are from 1999, they're on borrowed time. Depending on when they were closed/ paid off, etc., they're about to start dropping off his reports. I'm sure you already realized that, but the second shoe finally dropped for me, lol.
* 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
Regular Contributor
Posts: 176
Registered: ‎03-20-2007
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Re: High score but no open accounts


haulingthescoreup wrote:
I'm curious --if he hasn't had any active credit in the last six months, which is how I read your first post, how does he have FICO scores? I thought he hadn't had anything since 1999.

 

I just looked at his report again. On TU, he has one Macy's card still open. No balance and the CL is $100. The other two accounts were 2 CCs closed in 2000 and both were paid off. On his EQ report, its the exact same thing. Both CRs have no collections but have 3 inquiries from 2008. So, maybe the 'active' credit is his Macys card?

 

I'm confused!

4/23/16: 568 (EQ), 605 (TU), 595 (EX)
Regular Contributor
Posts: 176
Registered: ‎03-20-2007
0

Re: High score but no open accounts


nothingman02 wrote:
I think he would need atleast 6 months of history. Need not necessarily be in the last 6. But 1999 is a decade ago. Its too long and with no recent history, Id be curious to know what would happen.

 

I'm curious too! We'll find out when we try to apply for a CC tonight!
4/23/16: 568 (EQ), 605 (TU), 595 (EX)

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