topic Re: Is it possible to get FICO score in one month in Understanding FICO® Scoring

Is it possible to get FICO score in one month

Anonymous — Fri, 19 Feb 2016 17:44:30 GMT

I had a derogatory collections that just went off my report. I had a score in high 500's. Now the score is zero. It's been zero for about 3 months. I was just approved for credit card and Experia has my FICO score at 668. Is this possible? My understanding is it takes 6 months at least to generate a score. But my question really is because I've always had a score, with the exception of 3 months of my life, does the 6 months still apply to me?

Re: Is it possible to get FICO score in one month

Anonymous — Fri, 19 Feb 2016 17:55:19 GMT

@Anonymous wrote:
I had a derogatory collections that just went off my report. I had a score in high 500's. Now the score is zero. It's been zero for about 3 months. I was just approved for credit card and Experia has my FICO score at 668. Is this possible? My understanding is it takes 6 months at least to generate a score. But my question really is because I've always had a score, with the exception of 3 months of my life, does the 6 months still apply to me?

Myfico is correct. Scores start at 300-850+ depending. I dont think you had a 0, it must have been a techinical issue.

Re: Is it possible to get FICO score in one month

Anonymous — Fri, 19 Feb 2016 18:21:48 GMT

no. it takes 6 months to GENERATE the score, but you already had one generated (albeit bad)

if you have no credit activity for 3 months then your score goes "away" but will reactivate updated when you get something reporting again.

Re: Is it possible to get FICO score in one month

Anonymous — Fri, 19 Feb 2016 18:22:23 GMT

Thanks for your response. I think the zero was correct though since I didn't have anything on my credit report when the collection came off.

Re: Is it possible to get FICO score in one month

Anonymous — Fri, 19 Feb 2016 18:23:14 GMT

Thanks xterror. That's exactly what I was asking

Re: Is it possible to get FICO score in one month

Anonymous — Fri, 19 Feb 2016 18:24:49 GMT

it was 0. when you have NO credit activity in that long of a period your score reflects as 0. so if you apply for a loan you'll get the highest APRs available. but once you get something reporting again then it updates from where it was. in your case it improved

Re: Is it possible to get FICO score in one month

Anonymous — Fri, 19 Feb 2016 18:24:54 GMT

Welcome Ann.
As Tasty said its not possible to have a 0 score. Although it is possible to not have a score even with a credit report. For example if all your accts are closed or you have had no recent activity on your reports (don't know what constitutes as recent) the the fico algorithm won't be able to produce a score. Any activity once posted will again allow for a score. The 6mo only applies to someone who has no report, for example someone who just turned 18. Hope this helps.

Re: Is it possible to get FICO score in one month

Anonymous — Fri, 19 Feb 2016 18:26:30 GMT

openG when the fico system can't generate a score it comes back as a 0. but you can't have a 0 with established, reporting credit. but you can still have a 0 score. no score constitutes as 0 to lenders.

Re: Is it possible to get FICO score in one month

Anonymous — Fri, 19 Feb 2016 18:26:36 GMT

It seems others have posted much faster than me. 😊

Re: Is it possible to get FICO score in one month

Anonymous — Fri, 19 Feb 2016 18:34:23 GMT

Thanks for the clarification xterror that's interesting. At one time I was in a similar situation to the OP, although when I went to the bank for a loan they said they could not produce a score even though I had long established credit, just no recent activity. I was just using the explanation the bank gave me. I put for faith in this community the a banks lol.

Re: Is it possible to get FICO score in one month

Anonymous — Mon, 29 Feb 2016 23:37:40 GMT

Hi All!

Just an update. After getting to zero when derogatory came off, I had a new secured credit card post after only having the card for one week. Luckily, I paid the annual fee as soon as I got it. My credit score with Experian immedialy opened up at 668 experian. So I'm happy.