Credit @ 6 Months
May 2nd 2014, 3:38 am
#31
Forum Regular
Joined: Aug 2011
Location: Jacksonville, FL
Posts: 98
Re: Credit @ 6 Months
You can get your TransUnion credit score and a brief summary of your credit through the capital one online account. Seems to be a new service they're offering.
CWT
CWT
May 2nd 2014, 3:41 pm
#32
Are we there yet?
Joined: Jul 2007
Location: 31 miles from Cool (California)
Posts: 2,467
Re: Credit @ 6 Months
There's a little more to it than just that.
Good payment history stays on your report for 10 years after closing, bad payment history for 7 years after closing.
If you have another higher limit card, closing that low limit one will barely affect your score unless it is super old.
If you do close the account make sure they report it as "closed at customer request".
Good payment history stays on your report for 10 years after closing, bad payment history for 7 years after closing.
If you have another higher limit card, closing that low limit one will barely affect your score unless it is super old.
If you do close the account make sure they report it as "closed at customer request".
Making a transaction on the car every 6 months and paying it off immediately will prevent the card being closed due to inactivity.
May 3rd 2014, 12:19 am
#33
Banned
Joined: Apr 2013
Posts: 5,154
Re: Credit @ 6 Months
Paying in full makes no difference, paying on time does.
The credit agencies take a snap shot of your credit profile. If you have a $10,000 card limit, and spend $10,000 every month and pay it in full, you would expect that would look good, right. It doesn't. As far as the credit card agencies are concerned, your card is maxed out all the time.
Some good info:
https://www.creditkarma.com/article/...-score-factors
The credit agencies take a snap shot of your credit profile. If you have a $10,000 card limit, and spend $10,000 every month and pay it in full, you would expect that would look good, right. It doesn't. As far as the credit card agencies are concerned, your card is maxed out all the time.
Some good info:
https://www.creditkarma.com/article/...-score-factors
I'm glad the UK system isn't as regimental as the lousy FICO based one here is.
May 15th 2014, 11:39 pm
#34
BE Forum Addict
Joined: Aug 2013
Location: Rochester, New York
Posts: 1,125
Re: Credit @ 6 Months
Well,
I tried applying for the Capital One secured card today and was rejected ... guess my SSN hasn't been formally recognised yet by the credit agencies or something? *confused*
I tried applying for the Capital One secured card today and was rejected ... guess my SSN hasn't been formally recognised yet by the credit agencies or something? *confused*
May 15th 2014, 11:41 pm
#35
Often not so civil...
Thread Starter
Joined: Apr 2010
Location: The Boonies, GA
Posts: 9,561
Re: Credit @ 6 Months
I had to try a few times over the first couple of months before I got accepted. Impossible to damage a non-existant credit score 
