No Credit, Question about when Score will generate

Anonymous · ‎05-01-2012

I am new to credit, I have 1 account opened in december 2011. I used the account and paid it off in 4 months. According to the FICO formula, 1 account open for 6 months and rated for at least 3 months, according to this I should have gotten my first score today being the 6th month, am I missing something? The last reporting date on the account is 4/2012, does that have anything to do with it?

thanks

espnjunkie · ‎05-01-2012

if you opened the card in december you will have just completed your 4th billing month and are beginning your fifth moth. You likely won't have any scores until 6+ months of statements have been reported. Pay on time and in full if you want to boost your scores

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Guava · ‎05-01-2012

I'm not sure I follow. You have one (and only?) account since Dec. 2011, the account to date should be ~ 4-5 months old. From what you said, you didn't hit the 6-month mark yet, so still no scores.

Starting Score (08/11/11): TU08: 643
Current Score: TU08: 741
Goal Score: Stay in the 700s; keep reports clean

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deemutz · ‎05-01-2012

i think the OP is focusing on the 'rated for 3 months' more than the 'open for 6 months'

Starting Score 12-2011: EX 640 FAKO TU 550 FAKO 6-2011
Current Score 3-2012: EX 635 TU 603 myFICO 3-2012 EQ 670 MyFICO
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Guava · ‎05-01-2012

One way to know for sure is checking your credit report & see how long the account has been reporting. 6 months of reporting is enough to generate scores for you AFAIK

Starting Score (08/11/11): TU08: 643
Current Score: TU08: 741
Goal Score: Stay in the 700s; keep reports clean

Take the FICO Fitness Challenge

Anonymous · ‎05-01-2012

account is reporting opened 12/2011. Now Im confused, my math tells me its open for 6 months.

Anonymous · ‎05-01-2012

@Anonymous wrote:
account is reporting opened 12/2011. Now Im confused, my math tells me its open for 6 months.

What is date of first (closing date). I think you need 6 or those.

Viper786 · ‎05-01-2012

@Anonymous wrote:
account is reporting opened 12/2011. Now Im confused, my math tells me its open for 6 months.

Dec to Jan - 1 month

Jan to Feb - 2 months

Feb to March - 3 months

March to April - 4 months

April to May - 5 months

May to June - 6 months