Generating 1st Fico score

[Remedios]

When does the " countdown" to having score generated starts? Does it start with the month card reports as open, or the following month when it actually reports balance? Also, out of the curiosity, why is Fico XD not available to view like the rest of scoring models/scores.
Is there anything scoring wise that is specific to "young" accounts, such as what not to do? Is the emphasis on payment history and utilization different versus more seasoned accounts?
Thank you in advance
( And people tell me my job is hard lol)

[Ardecko]

https://www.myfico.com/CreditEducation/questions/requirement-for-fico-score.aspx

Pretty sure it's six months of history on record. That means accounts on your report must show 6 months of history.*

* This doesn't have to be all your history. I'm pretty sure I've read that adding the person as an AU on a card that has 6+ months of history will cause a score to generate as soon as the AU account hits their report.

[Anonymous]

To dovetail on what Ardecko said, it may not even have to be a literal full six months, due to the weird way age is calculated.  At all three CRAs, age is calculated in months and every account starts with an age of 0 months.  At least one of the three CRAs, perhaps for all three, the age of an account is increased by 1 month on the first of every month -- whether the account was opened on the 2nd or the 31st.  Accounts opened at the end of the month will therefore turn six months old after a true age of 5.1 months.  Example:

Card opened 03/29.  Throughout the rest of March it has an age of 0.

On 04/01 it becomes 1 month old.  (Even though it is really only three days old.)

On 09/01 it becomes 6 months old.

Thus such a person could try pulling his FICO scores on 09/02 and in theory he should be fine.

I cannot be certain that all three bureaus work that way, but at least one does.  It would be nice if someone new to credit tested that to confirm that all three bureaus work that way.  (Via pulling scores on the 2nd.)

[Subexistence]

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@Anonymous wrote:

To dovetail on what Ardecko said, it may not even have to be a literal full six months, due to the weird way age is calculated.  At all three CRAs, age is calculated in months and every account starts with an age of 0 months.  At least one of the three CRAs, perhaps for all three, the age of an account is increased by 1 month on the first of every month -- whether the account was opened on the 2nd or the 31st.  Accounts opened at the end of the month will therefore turn six months old after a true age of 5.1 months.  Example:

Card opened 03/29.  Throughout the rest of March it has an age of 0.

On 04/01 it becomes 1 month old.  (Even though it is really only three days old.)

On 09/01 it becomes 6 months old.

Thus such a person could try pulling his FICO scores on 09/02 and in theory he should be fine.

I cannot be certain that all three bureaus work that way, but at least one does.  It would be nice if someone new to credit tested that to confirm that all three bureaus work that way.  (Via pulling scores on the 2nd.)

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I pulled mine the 5th of the 6th month and all  3 appeared.

[Anonymous]

And on what date was your first account opened?

[Subexistence]

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@Anonymous wrote:

And on what date was your first account opened?

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October 2016.

In fact, I opened it on my 18th Birthday which I don't reveal publicly. However I can assure you that my BIrthday is after the 5th.

[Remedios]

My first card was opened on the 27 of October, perfect for testing it. Based on free Experian monitoring, they are calculating it exactly as you said.

[Anonymous]

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@Subexistence wrote:

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@Anonymous wrote:

And on what date was your first account opened?

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October 2016.

In fact, I opened it on my 18th Birthday which I don't reveal publicly. However I can assure you that my BIrthday is after the 5th.

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Is the date difference (between the date that you pulled the scores and the date opened of the account) also less than 179 days?  (I.e. 178 or less?)

It would be nice to rule out the possibility that "six months" in this connection is operationally defined as 180 days.  That's a common definition for banks and many other institutions (also in various legal situations).  180 days is sometimes more than a true six months, but more often a tiny bit less. 

If in your case the difference was 178 or fewer days, then we could be certain that the Day 1 theory is the only possible explanation.

[Anonymous]

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@Remedios wrote:
My first card was opened on the 27 of October, perfect for testing it. Based on free Experian monitoring, they are calculating it exactly as you said.

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Do you mean that the CMS you are using (credit monitoring system) has a high level summary page that states the age in months of each account?  Because if your first account was opened 10/27 of last year, it would be too early for you to test whether you have been given your FICO scores on the 2nd of the month.  If I am doing the math right,  you need to wait till April 2.

[Remedios]

Yes,I need to wait till April. What I was trying to say is that on November 1st, Experian called it 1 month old ( 5 days old at the time)