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Mofrank

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0 credit cards to 3 rebuilding credit have question!
If I have under 25% utilization, how many points can I earn from having zero credit cards to 3?

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Top Contributor
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Thats hard to say

There are many variables that go into creating your credit score. And it seems, That every lender has a different algorithm to get your score.  I checked my scores today and saw 7 different numbers. There are 3 major Credit Reporting Agencies and FICO. All use basically the same info to give you a score but they all have different ways to figure out that number.  In general you are using your score to give you a visual guide to what you credit history looks like to lenders.  Worry less about the specific number and more about which 50 point bracket your in. As I understand it, The average American's score is around 697.  Scores of 700 - 749 are considered good.  750 and above are Excellent.  Scores in the 800's generally take a long credit history. 

There is no finite number of points that any action will move your score.  Scores are averaged over time, Your credit behavior for the last 2 to 5 years are the most critical to your score.  Your credit history that lenders look at is whats reported by the credit bureaus, This info goes back 7 years for most info. and 10 yrs. 6 mo. for legal and government actions.  

Most actions will have some immediate result in your score. Scores fluctuate almost daily. But some actions can take up to 90 days to report and cross report to the different agencies. So what shows up right away on one Credit Report might not show up for 3 months on another.  You want your history to reflect your ability to manage your credit over time. That will result in the best interest rates on things like mortgages where a single percentage point can result in Thousands of dollars in interest over the life of the loan.

Keep your Utilization below 30% of your limits.  Pay off all credit cards completely when ever possible. If your carrying a large balance on a card, Stop using it until its paid off. 

Good luck

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