- Green Member
- Posts: 7
- Joined: Wed Jan 26, 2011 3:18 pm
- Location: California
My question: How quickly do FICO credit scores change to reflect information from the last 6 months? I believe credit agencies report to the three credit unions once a month, but how quickly does that information affect the credit score?
My particulars: I opened my first credit card when I was a college student in July 2003. It started out as a student Visa through BofA with a $300 dollar limit and has now become a Visa Platinum Plus through BofA with a $16,000 limit. I do not have any late payments. It is not a rewards card of any kind - no points, cash back, rewards, etc.
As recently as a year ago, it carried a balance of just under $11,000 (bad for credit score, I know). I have since paid the balance off (July 2010) and charge between $50 and $150 a month since then, paying it all off each month to avoid interest.
In addition, I have 4 school loans for a total of $31,000 in school debt. I have one ding from an apartment rental in August 2009.
I ask the question above because my sister is getting married in October this year and I have some purchases coming up that total close to $1000 (hotel, airfare, attire, etc). I would like to get SOMETHING for these charges, but do not know if my credit score would be high enough to qualify for a rewards card like some of the Amex or the Citi ThankYou.
I sincerely appreciate any information you can offer.