Certain minimum scoring criteria must be met in order for a FICO® Score to be generated, which likely explains why you aren’t seeing one as a part of your membership right now:
1. You have few or no accounts with sufficient history
One reason your score may not show is that all your trade lines of data are still quite young. One of the minimum scoring requirements is that you have at least one credit obligation that’s been open for at least six months. If you’re just starting out in establishing your credit profile, it may take up to six months for the minimum scoring criteria to be met. One thing to note in the meantime – if all your newly-opened credit accounts are revolving accounts, making at least one transaction on one of the revolving accounts could help satisfy the minimum scoring requirements. Recent account activity is a minimum scoring criterion.
2. There’s no recent account activity
You may not see a FICO® Score for another reason – if the accounts in your report have not been updated in the last six months. Fortunately, shaking that inactive status can be as easy as activating any revolving account by using it in the near future. While a lack of account activity may mean that you’ve been doing an excellent job at managing your finances by controlling your spending – especially if you’re working to pay down debt – having even a small purchase on a revolving account that’s reported can keep that account active.
No revolving accounts on your credit report? You may need to open (and use) a new revolving account or an installment-type account where activity can be reported on the account in the future.
3. You may have been reported as deceased
Your credit information is a personal thing that’s attached to you alone, and when you pass away, it ends. It’s never passed onto or inherited by another person. When you pass away, the credit bureaus must be notified, and your information is updated with a deceased status to protect against identity theft – since non-living persons can’t have credit scores, or use their credit any longer. It is possible to discover that you’ve been incorrectly reported to a credit bureau as deceased. While surprising, it’s a simple fix: simply contact each of the credit reporting agencies via their consumer hotline and work with them to confirm your identity.
Learning how to master your finances can be a challenge when life gets in the way.