topic Re: Help a noob out please........... in Credit Cards

Help a noob out please...........

Anonymous — Tue, 03 May 2011 13:20:53 GMT

I just paid my first statement on my secured cap one card. $84.93 balance on a $300 limit. I have one collection acct for $85.00 that will paid soon. I have student loans that are all paid and thats it. No other credit cards. Just a lease,cell,electric and comcast in my name. Before i got the cap card i had a thin file and no score. When can i expect to achieve a score? What should be my next move as far as another card? I only have 3 inquiries on my report. 2 of which will drop off in september. I have plenty of patience and definately am not someone who will go on a app spree. I appreciate all input. Been a longtime lurker who has gained a lot of knowledge from this site.

Re: Help a noob out please...........

Anonymous — Tue, 03 May 2011 13:37:04 GMT

Welcome to the forum! I'm not sure why you would not have a FICO score from at least one of the agencies but probably from all three (with the usual caveat on Experian) because you do have transactions on your credit file(s).

Re: Help a noob out please...........

Schoolbuskid — Tue, 03 May 2011 13:45:20 GMT

In order to generate a score you need to have atleast 6 months of positive reporting.

Re: Help a noob out please...........

Anonymous — Tue, 03 May 2011 21:04:56 GMT

@Schoolbuskid wrote:
In order to generate a score you need to have atleast 6 months of positive reporting.

So Are you saying if you have 6 months of mixed reporting you have no score at all?

Re: Help a noob out please...........

Anonymous — Tue, 03 May 2011 22:29:47 GMT

I'm surprised noone has yet to say, Don't pay a collection acount without pfd 'in. just search pay for delete or pfd to find out more