Applied for credit card so i can get credit score?
how long untill it shows up that i have credit score after my 1st credit card opened, and whats the score going to be or what does it starts from.thanks
how long untill it shows up that i have credit score after my 1st credit card opened, and whats the score going to be or what does it starts from.thanks
1 year
my best suggestion to you is to buy something cheap max 50 bucks and make a payment on it every month for a year, maybe like 2$ above the min payment
It usually takes a two weeks to receive an answer if this is your first credit card. Your credit limit will be $1,000 and each year it will increase depending on what you spend each year or if you ask for a credit limit to be increased. If this is your own banks credit card you may phone and ask them if they have approved you.
It will take a month to show that you have a credit card on your credit file. It takes a payment history of 6 - 9 months for you to get a credit score.
You do not have to carry a balance to build your credit score. Put on your card what you can pay in full every month.
Generally your score will start out “average” not good nor bad (can’t give you an exact number). As you use and pay your card, as long as you don’t max out your card, it will continue to rise.
after the first month of reporting a bureau should be able to calculate your score. definately shouldnt take more than a few months because the bureaus will give or take points for opening a new account and then give or take points based on if you made your payments on time and were never late. no one can tell you what ur score wlll be. the bureaus dont make it easy for any of us to guestimate. remember to keep balances at 1-10% or at least below 30%. for more tips visit forums on myfico.com