New to US New Credit Score

Discussion in 'Credit Talk' started by came21786, Jun 28, 2016.

  1. came21786

    came21786 New Member


    I moved to US for the first time in my life, 6 months ago. I've got my credit card with $500 (not a secured one, a real card from Chase) like 4 months ago. And I also had a car loan for about 9K, just for purpose of building credit score. And I already made 2 payments on time.

    I see my score on Credit Karma to be 665 right now, and it is still slowly going up.

    Right now I am looking forward to have a home loan too, because paying rent does not make me happy.

    But apparently my credit score is not available for companies who ask for it.

    I know that because I tried to port my cell line to Verizon and get new phones as well, but they requested high down payment because they did not get any result from that, as if like I don't exist at all :)

    When do you think it will be available to companies to see that? Like a year perhaps?

    Thanks for your replies.
  2. JoshuaHeckathorn

    JoshuaHeckathorn Administrator

    Welcome to the US, and welcome to Creditnet too!

    It sounds like you're off to a great start establishing your credit. Make sure you keep your credit utilization below 10% on the Chase credit card, and keep making your on-time payments on the auto loan. You'll need to give it about 6 months before your credit reports and credit scores include everything though. 6 months from the time you opened your first account.

    When are you looking to qualify for a home loan?
  3. came21786

    came21786 New Member

    Thank you!

    I have one more term on my home lease, and then I'll be looking for loan sometime in 2017.

    Any suggestions there?
  4. JoshuaHeckathorn

    JoshuaHeckathorn Administrator

    Ok, sounds like you have plenty of time then to get those credit scores into tip-top shape. You're going to want to be up in the high 700s in order to lock in the best rates. Once you're there, make sure you shop around with at least 3-4 different lenders before you even begin looking at homes.

    Happy to help with the process as you get closer. I've gone through it many times, and understand how confusing it can be for first-timers. Once again, welcome to Creditnet!
  5. jam237

    jam237 Well-Known Member

    Being completely new, you may actually have the impossible to get "0" credit score, that is probably what they meant by "not being available". Hopefully when the computer has enough time to process, and the history slowly develops, enough pieces go into your score for it to "be available".

    Think of it this way.

    If you got a perfect 850 from the get go, with just the one credit card, obtained a lot of inquiries right out of the gate and opened up a ton of new debt, there would be some major risks there, and since credit scores are about risk-mitigation, they work it the other way, start low, add factors as the data shows up, and increase the score as more data becomes available.

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