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Fico shouldn't take 6 months to generate scores

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Super Contributor

Re: Fico shouldn't take 6 months to generate scores


@Subexistence wrote:

@SouthJamaica wrote:

@Subexistence wrote:

It's been about 3 months from my 18th Birthday and I've been gardening ever since my spree on my Birthday while I wait for my FICO score to come out. Everyone in this forum always assumes I have a FICO score and I don't blame them because everyone else does. A lot of topics I get involved in often end up with someone asking what my FICO score is and then I keep telling them I don't have them yet and then they say what I should do once I get them. Other times I can't post comparisons and FICO statistics in these forums and this includes the myFICO fitness challenge which I don't like missing out on. I wish FICO would just be like FAKO and provide score after like 1 month. Oh yeah I'm not wishing for a FICO score sooner in order to have a score for credit application. 6 months is a good time to garden before I get my citi credit card application. Although it does suck that a 5 month old credit 'score is like a 1 day old credit 'score' except for the fact that the 5 month one might have more inquiries. My main issue is not being able to be as active in these forums as I could be without the scores.

 

Edit:I also want to know if my $500 PLOC is revolving or installment on FICO. on my FAKO, the PLOC is an installment loan.


Don't be in such a rush to get into debt. It's not really as much fun as we on the MyFICO Forum make it out to be Smiley Happy

 

I rue the day I was given advice, all correct, which I followed, about how to 'build my credit'; it led to a world of pain. I would have been much better off following my parents' advice, which was not to borrow. Period.


Tell your world of pain story please.


You borrow, pay back, everything's rosy.

Then one day you wind up not making a living for 3 months. (That was my scenario but there are thousands of other possible scenarios).

And have to borrow from Peter to pay Paul.

And then you're totally behind the eight ball, and can't get out, because

Peter's credit terms are even worse than Paul's.

 

Banks are just lovely when they're sucking you in with bonus points, and spending bonuses,

and 0% balance transfers and the like, but they ain't so lovely if you're 2 days late on a payment.


Total revolving limits 639500 (558000 reporting)
Message 11 of 16
Established Contributor

Re: Fico shouldn't take 6 months to generate scores


@SouthJamaica wrote:

@Subexistence wrote:

@SouthJamaica wrote:

@Subexistence wrote:

It's been about 3 months from my 18th Birthday and I've been gardening ever since my spree on my Birthday while I wait for my FICO score to come out. Everyone in this forum always assumes I have a FICO score and I don't blame them because everyone else does. A lot of topics I get involved in often end up with someone asking what my FICO score is and then I keep telling them I don't have them yet and then they say what I should do once I get them. Other times I can't post comparisons and FICO statistics in these forums and this includes the myFICO fitness challenge which I don't like missing out on. I wish FICO would just be like FAKO and provide score after like 1 month. Oh yeah I'm not wishing for a FICO score sooner in order to have a score for credit application. 6 months is a good time to garden before I get my citi credit card application. Although it does suck that a 5 month old credit 'score is like a 1 day old credit 'score' except for the fact that the 5 month one might have more inquiries. My main issue is not being able to be as active in these forums as I could be without the scores.

 

Edit:I also want to know if my $500 PLOC is revolving or installment on FICO. on my FAKO, the PLOC is an installment loan.


Don't be in such a rush to get into debt. It's not really as much fun as we on the MyFICO Forum make it out to be Smiley Happy

 

I rue the day I was given advice, all correct, which I followed, about how to 'build my credit'; it led to a world of pain. I would have been much better off following my parents' advice, which was not to borrow. Period.


Tell your world of pain story please.


You borrow, pay back, everything's rosy.

Then one day you wind up not making a living for 3 months. (That was my scenario but there are thousands of other possible scenarios).

And have to borrow from Peter to pay Paul.

And then you're totally behind the eight ball, and can't get out, because

Paul's credit terms are even worse than Peter's.

 

Banks are just lovely when they're sucking you in with bonus points, and spending bonuses,

and 0% balance transfers and the like, but they ain't so lovely if you're 2 days late on a payment.


So I plan to have 3 month savings.








Starting Score: Ex08-732,Eq08-713,Tu08-717
Current Score:Ex08-795,Eq08-807,Tu08-787,EX98-761,Eq04-742
Goal Score: Ex98-760,Eq04-760


Take the myFICO Fitness Challenge

History of my credit
Message 12 of 16
Moderator Emeritus

Re: Fico shouldn't take 6 months to generate scores


@Subexistence wrote:

@SouthJamaica wrote:

@Subexistence wrote:

@SouthJamaica wrote:

@Subexistence wrote:

It's been about 3 months from my 18th Birthday and I've been gardening ever since my spree on my Birthday while I wait for my FICO score to come out. Everyone in this forum always assumes I have a FICO score and I don't blame them because everyone else does. A lot of topics I get involved in often end up with someone asking what my FICO score is and then I keep telling them I don't have them yet and then they say what I should do once I get them. Other times I can't post comparisons and FICO statistics in these forums and this includes the myFICO fitness challenge which I don't like missing out on. I wish FICO would just be like FAKO and provide score after like 1 month. Oh yeah I'm not wishing for a FICO score sooner in order to have a score for credit application. 6 months is a good time to garden before I get my citi credit card application. Although it does suck that a 5 month old credit 'score is like a 1 day old credit 'score' except for the fact that the 5 month one might have more inquiries. My main issue is not being able to be as active in these forums as I could be without the scores.

 

Edit:I also want to know if my $500 PLOC is revolving or installment on FICO. on my FAKO, the PLOC is an installment loan.


Don't be in such a rush to get into debt. It's not really as much fun as we on the MyFICO Forum make it out to be Smiley Happy

 

I rue the day I was given advice, all correct, which I followed, about how to 'build my credit'; it led to a world of pain. I would have been much better off following my parents' advice, which was not to borrow. Period.


Tell your world of pain story please.


You borrow, pay back, everything's rosy.

Then one day you wind up not making a living for 3 months. (That was my scenario but there are thousands of other possible scenarios).

And have to borrow from Peter to pay Paul.

And then you're totally behind the eight ball, and can't get out, because

Paul's credit terms are even worse than Peter's.

 

Banks are just lovely when they're sucking you in with bonus points, and spending bonuses,

and 0% balance transfers and the like, but they ain't so lovely if you're 2 days late on a payment.


So I plan to have 3 month savings.


 

There's really no need to be so combative.  If you're going to post topics which are going to generate feedback, you're going to receive it.

 

If you aren't willing to listen to the opinions, it begs the question why you're posting them in the first place.

 

I would suggest figuring out what you want from this experience, actually that's true of life in general.




        
Message 13 of 16
Super Contributor

Re: Fico shouldn't take 6 months to generate scores


@Subexistence wrote:


So I plan to have 3 month savings.


I know you are young and perhaps don't view the world and life the way people 2-3X your age may, and understandably so.  However, I can assure you that planning to have 3 months of savings as some sort of insurance policy isn't significant at all in the big picture. 

Message 14 of 16
Established Contributor

Re: Fico shouldn't take 6 months to generate scores


@Revelate wrote:

@Subexistence wrote:

@SouthJamaica wrote:

@Subexistence wrote:

@SouthJamaica wrote:

@Subexistence wrote:

It's been about 3 months from my 18th Birthday and I've been gardening ever since my spree on my Birthday while I wait for my FICO score to come out. Everyone in this forum always assumes I have a FICO score and I don't blame them because everyone else does. A lot of topics I get involved in often end up with someone asking what my FICO score is and then I keep telling them I don't have them yet and then they say what I should do once I get them. Other times I can't post comparisons and FICO statistics in these forums and this includes the myFICO fitness challenge which I don't like missing out on. I wish FICO would just be like FAKO and provide score after like 1 month. Oh yeah I'm not wishing for a FICO score sooner in order to have a score for credit application. 6 months is a good time to garden before I get my citi credit card application. Although it does suck that a 5 month old credit 'score is like a 1 day old credit 'score' except for the fact that the 5 month one might have more inquiries. My main issue is not being able to be as active in these forums as I could be without the scores.

 

Edit:I also want to know if my $500 PLOC is revolving or installment on FICO. on my FAKO, the PLOC is an installment loan.


Don't be in such a rush to get into debt. It's not really as much fun as we on the MyFICO Forum make it out to be Smiley Happy

 

I rue the day I was given advice, all correct, which I followed, about how to 'build my credit'; it led to a world of pain. I would have been much better off following my parents' advice, which was not to borrow. Period.


Tell your world of pain story please.


You borrow, pay back, everything's rosy.

Then one day you wind up not making a living for 3 months. (That was my scenario but there are thousands of other possible scenarios).

And have to borrow from Peter to pay Paul.

And then you're totally behind the eight ball, and can't get out, because

Paul's credit terms are even worse than Peter's.

 

Banks are just lovely when they're sucking you in with bonus points, and spending bonuses,

and 0% balance transfers and the like, but they ain't so lovely if you're 2 days late on a payment.


So I plan to have 3 month savings.


 

There's really no need to be so combative.  If you're going to post topics which are going to generate feedback, you're going to receive it.

 

If you aren't willing to listen to the opinions, it begs the question why you're posting them in the first place.

 

I would suggest figuring out what you want from this experience, actually that's true of life in general.


Well I didn't post the 3 month thing to be combative.  How does planning to have 3 month savings mean I'm not willing to listen to opinions? I actually did listen to the story to learn from it and I plan to make savings because I read the story. Now before you go hunting for other posts where I do argue back I'll admit there are some threads where I do that. Butthere's a big difference between a thread like http://ficoforums.myfico.com/t5/Credit-Cards/What-is-your-opinion-on-citi-double-cash/m-p/4832102#M1... and one like http://ficoforums.myfico.com/t5/General-Credit-Topics/Soft-inquiries-should-be-calculated-in-your-sc...

 

The first thread is asking for opinions because I need answers but the 2nd thread involves me taking a stance on an issue. Ask you can see, there is no argument in the first thread from me because I'm looking for feedback. However in the 2nd thread, since I'm taking a stance, debate shouldn't come off as a surprise. It seems like most threads in the forum are more like the first thread where there's some issue in life where advice is needed so most people like you are used to not be debated with. However most of my threads are like the 2nd thread so if you see me make some type of stance then just know what to expect.








Starting Score: Ex08-732,Eq08-713,Tu08-717
Current Score:Ex08-795,Eq08-807,Tu08-787,EX98-761,Eq04-742
Goal Score: Ex98-760,Eq04-760


Take the myFICO Fitness Challenge

History of my credit
Message 15 of 16
Moderator Emeritus

Re: Fico shouldn't take 6 months to generate scores


@Subexistence wrote:

Well I didn't post the 3 month thing to be combative.  How does planning to have 3 month savings mean I'm not willing to listen to opinions? I actually did listen to the story to learn from it and I plan to make savings because I read the story. Now before you go hunting for other posts where I do argue back I'll admit there are some threads where I do that. Butthere's a big difference between a thread like http://ficoforums.myfico.com/t5/Credit-Cards/What-is-your-opinion-on-citi-double-cash/m-p/4832102#M1... and one like http://ficoforums.myfico.com/t5/General-Credit-Topics/Soft-inquiries-should-be-calculated-in-your-sc...

 

The first thread is asking for opinions because I need answers but the 2nd thread involves me taking a stance on an issue. Ask you can see, there is no argument in the first thread from me because I'm looking for feedback. However in the 2nd thread, since I'm taking a stance, debate shouldn't come off as a surprise. It seems like most threads in the forum are more like the first thread where there's some issue in life where advice is needed so most people like you are used to not be debated with. However most of my threads are like the 2nd thread so if you see me make some type of stance then just know what to expect.


Don't ask me to split hairs as a moderator as that never turns out well Smiley Happy.




        
Message 16 of 16
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