I have no credit, how long does it take to generate credit score?

[leeloo2013]

I have only one account on my credit from mitsubishi motor credit. It is now 4 months old and I still have no credit score. how long before a store will start being calculated?

[MarineVietVet]

---

@leeloo2013 wrote:

I have only one account on my credit from mitsubishi motor credit. It is now 4 months old and I still have no credit score. how long before a store will start being calculated?

---

Hi and welcome to the forums.

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).

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[leeloo2013]

thanks for the kind welcome! I got 0 percent on a new eclipse convertible thanks to college grad program, and have been paying every month on time. Just wanted to know when I should see a score...

I actually wonder what it will be, being that I will only have that one installment loan, and its paid on time.

[haulingthescoreup]

Well, you don't have any revolving credit, which is a big driver of FICO scores.

Those new to credit (just hitting 6 months) generally seem to have scores around 680 or so. I don't know if yours would be that high, since you only have installment.

In the long run, it would be wise to have a couple of CC's, but there's no hurry. The longer you wait, the better a deal you're apt to get. I would certainly wait until you have six months of history on your auto loan reporting before getting a first card, and then I'd recommend waiting a second six months (year total) for a second card.

That will give you time to do some research and figure out which card or cards might make the most sense for your usage. Think "rewards."