Getting from 620-750

[Anonymous]

Hello everyone ! Brand new here. New to managing credit in general. I just opened my first credit card (capital one platinum) and was at a 620 Transunion 623 equifax 630 Ex. I was told that once my report updates showing that I have a credit line and 0% utilization that my score should go up considerably? Is this true? Also is it feasible to get to a 740-750 within a year? It’s like the most important thing to me right now so I can buy a house within a few years. What can I do to jump 120 points?

[SouthJamaica]

---

@Anonymouswrote:
Hello everyone ! Brand new here. New to managing credit in general. I just opened my first credit card (capital one platinum) and was at a 620 Transunion 623 equifax 630 Ex. I was told that once my report updates showing that I have a credit line and 0% utilization that my score should go up considerably? Is this true? Also is it feasible to get to a 740-750 within a year? It’s like the most important thing to me right now so I can buy a house within a few years. What can I do to jump 120 points?

---

Assuming you have no negatives on your record, yes it's quite feasible. Keep your utilization (as measured by the statement balance) at 5% or less, and you'll be golden.

[Anonymous]

Where are you getting your scores from? Is this your only credit card? I've seen many raise their scores over 100 points in a year. 

[Anonymous]

Yes it’s my only credit card and got my scores from credit karma credit sesame experience website and credit wise through cap one

[Anonymous]

---

@Anonymouswrote:
Yes it’s my only credit card and got my scores from credit karma credit sesame experience website and credit wise through cap one

---

Those are not Fico scores, they are Vantage score which virtually no lender uses. You need to get your Fico scores. You can use Credit Check total for a $1.00 trial and get all 3 of your scores, just be sure to cancel it before 7 days or you'll be charged the monthly rate.

[Anonymous]

Head to creditscorecard.com and sign up for this free service to get your EX FICO 08 score.  That will give you an idea of where you stand relative to FICO scoring, as the VS 3.0 scores you've been looking at are not worthwhile.

[Remedios]

If the OP just opened his first card, he won't be able to see his Fico score for 6 months, if that is his only tradeline.

[Anonymous]

Isn't the Capital One Platinum their entry-level unsecured card?  I would think if the OP had zero credit history at all he'd have to start with a secured card.  Or, perhaps that card comes in 2 versions and the OP does have a secured one.

[Remedios]

Cap1 will issue unsecured platinum cards with low limits if there are no recent baddies.
It was my first card

[Remedios]

As soon my first card reported, VS was generated, low 600s