When would I get my credit score on the 6 month or 7 month?

[CJIII29]

I will be making my four payment on my capital one secured credit card this month and my second payment on $1000 share secured loan. I am wondering will I have a credit score in June or July? June will make the 6 month. I had the capital one secured credit since November.

[JLK93]

 If your account was opened in November, you will have a FICO score on May 1st.

You said that you have had the secured card since November. Do you mean you have physically had the card since November? As I recall it takes about a month to receive a Capital One secured card. So, if your account was opened in October, then you should already have a FICO score.

[CJIII29]

I apply for the card in Oct but got the card in November. I dont have a FICO score yet I made a Payment for Jan, Feb, Mar, got to make one for April.

[CJIII29]

Captial One says the account was open in December so I guess it will be June 1st how would the $1000 secured loan affect my score?

[JLK93]

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@CJIII29 wrote:

Captial One says the account was open in December so I guess it will be June 1st how would the $1000 secured loan affect my score?

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Installment loans do not have as much effect on FICO scores as credit cards. Most tests I've seen suggest that installment loans do not cause a major increase in scores. When your secured loan reaches the 6 month mark it will probably cause a relatively small increase in your score.

[CJIII29]

I hope to have enough score to apply for a use truck loan.

[Revelate]

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@oilcan12 wrote:

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@CJIII29 wrote:

Captial One says the account was open in December so I guess it will be June 1st how would the $1000 secured loan affect my score?

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Installment loans do not have as much effect on FICO scores as credit cards. Most tests I've seen suggest that installment loans do not cause a major increase in scores. When your secured loan reaches the 6 month mark it will probably cause a relatively small increase in your score.

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If it's your first installment line on a report it absolutely is beneficial from the mix of credit calculation; comparing that with revolving utilization you're correct, but it's still non-trivial.

If you have installment history already, not so much.

[CJIII29]

Yes this is my first installment line. I just started trying to build credit last Nov when I got my Credit Card.