[UPDATE] Will I be able to obtain a FICO score or is it still too early?

[Anonymous]

Will I be able to obtain a FICO score today if I sign up for the Experian $1 free trial or is it still too early? I have had the following cards since May, 2015:

OpenSky: statement cuts tonight, 11/3

BOA: statement cuts on 11/7 (graduated last month, received a credit limit increase)

If anymore details are needed (last payment date, reported date, etc. please let me know)

Any help would be greatly appreciated!

Thanks.

[Anonymous]

I believe that there are two requirements:

(a)  That you have an account that has been open for at least six months

(b)  That you have an account that has been updated in the last six months

You have no problem meeting (b).  It's (a) that is the clincher for you.  If your oldest account was opened on May 1st or 2nd, then you might be ok by now.  If it were much later than that then you wouldn't be meeting the requirement yet (as I understand it).  If it were me, I would sign up for Credit Karma and spend your time watching your EQ and TU reports, making sure they made sense and so on.  Then I'd pull my scores 7 months and 3 business days after the date your oldest open account was opened.

[Anonymous]

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@Anonymous wrote:

I believe that there are two requirements:

(a)  That you have an account that has been open for at least six months

(b)  That you have an account that has been updated in the last six months

You have no problem meeting (b).  It's (a) that is the clincher for you.  If your oldest account was opened on May 1st or 2nd, then you might be ok by now.  If it were much later than that then you wouldn't be meeting the requirement yet (as I understand it).  If it were me, I would sign up for Credit Karma and spend your time watching your EQ and TU reports, making sure they made sense and so on.  Then I'd pull my scores 7 months and 3 business days after the date your oldest open account was opened.

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Thanks for the response - looks like you are correct - I don't think I would be able to meet requirement "A" since my "oldest" account was open on May 15, 2015.

[Anonymous]

You can take the extra time to get your two cards reporting at a level that will give you the best score you can get at the moment.  You want one card at $0 and the the other card at a low amount (say $10 or so).  Then when you get your scores you will have an idea what the best you can achieve is for now.  Karma (with its free weekly reports) is a good tool for making sure that your balances have reported the way you want them to.

[Anonymous]

Thanks for the input - I do have an account with CK, but what I find odd is that my OpenSky always reports on the 30th of the month and the statement cuts on the 3rd of the following month. While BOA reports on the same day every month which happens to be the same day as when the statement is cut.

[Anonymous]

Some creditors always report on a fixed day for all of their customers -- often the end of the month.  Much more common is to report for each account on the last day of the billing cycle.  But both happen.

[Anonymous]

I kind of wished OpenSky reported on the last day of the billing cycle

[Anonymous]

[UPDATE]

After thoroughly reviewing my CK reports I figured I would give the Experian trial a shot; I signed up just now and received the following:

FICO SCORE 8

Powered by Experian

719

Much higher than I thought it would be! CK currently has me at 677 (TU and EQ).

[Anonymous]

Good for you!  Let us know if you want any advice about next steps.

[Anonymous]

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@Anonymous wrote:

Good for you!  Let us know if you want any advice about next steps.

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Thanks! I'm sitting here debating on whether I should apply for an AMEX and Discover or wait for my BOA credit line increase to show up on my report.

The report that Experian showed me lists the previous secured line before my BOA card graduated.