Overview
When you open a line of credit, your information will be reported to two main credit bureaus: TransUnion and Experian.
The most important thing impacting your credit score is whether you pay off the amounts you borrow through the line of credit that you access with your Fizz card. The following are also reported:
Your credit utilization - The amount of credit you have used compared with how much credit you have been extended
Your credit history - The length of time that you have had access to credit
Your credit mix - The different types of credit that you have had access to, like a mix of installment debt (such as student loans) and revolving accounts (such as the open-end line of credit offered in connection with your Fizz card)
Your access to new credit - The number of times you apply for a new line of credit and a lender makes a hard inquiry into your credit score
At Fizz, we make it easy to avoid hurting your credit score. We don't check your credit score when you apply, so your credit score won't get dinged for a hard inquiry like it might when you apply for a normal credit card.
Also, by turning on daily Autopay, you'll pay off your purchases on a daily basis to avoid building up a balance on your card. With SafeFreeze, your card will automatically lock if you miss a payment on any given day. Your card will stay locked until you make a payment. These features are optional, but highly recommended.
If you do miss a payment, you'll have 21 days after the end of your 30-day billing cycle to make it. If you miss that due date, your card will lock automatically, even if you don't have SafeFreeze enabled. You'll then have 30 days to make a payment before a missed payment is reported to the credit bureaus, harming your credit score.
After those 30 days, you'll continue to get missed payments reported to the credit bureaus every 30 days.
You can avoid missing a payment by turning on Autopay and keeping sufficient money to cover your spend in your connected account. If you do miss a payment, the best thing you can do is make sure to cover it as soon as you can.
Credit reporting
If don't have a credit score, it may take several months before your credit score becomes available. This is due to the fact that new credit users simply don’t have enough data on them to generate a score. Don’t worry though, by having a Fizz card, you’re on the right track and you should be able to see your score soon.
Credit history
We do not check your credit history. We don’t believe you should have to have credit to build credit!
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