topic Re: Is it possible to be the Youngest 800 Club Member? in Understanding FICO® Scoring

Is it possible to be the Youngest 800 Club Member?

jmoney23 — Sun, 15 Apr 2012 04:35:09 GMT

I noticed 800 club members have AAoA 15 years or higher, mortgage and no baddies.

Obviously, if you started building credit at 18 or 22, right out of college, your AAoA is not going to be good. But is that the most significant factor in an 800 score?

Is it possible to have an 800 score in your 20s based solely on no baddies, good utilization ratios and loan payoff?

Re: Is it possible to be the Youngest 800 Club Member?

CreditScholar — Sun, 15 Apr 2012 05:12:34 GMT

jmoney23 wrote:
I noticed 800 club members have AAoA 15 years or higher, mortgage and no baddies.

Obviously, if you started building credit at 18 or 22, right out of college, your AAoA is not going to be good. But is that the most significant factor in an 800 score?

Is it possible to have an 800 score in your 20s based solely on no baddies, good utilization ratios and loan payoff?

It's possible but I'm guessing it's quite rare. I'm 30 and have been in the 800 club for the past 2 years now. For that kind of score no baddies is assumed, although you don't necessarily need a mortgage. I don't have one currently, nor have I ever had one (my house was bought with cash). I've had credit since I was 18, used it well and my AAoA is 10.1 years.

Re: Is it possible to be the Youngest 800 Club Member?

marty56 — Sun, 15 Apr 2012 11:41:55 GMT

There was a lady at work who had an 800 credit score. She was 26 and in the military for 8 years. I know she had a mortgage.

Re: Is it possible to be the Youngest 800 Club Member?

SwiftTone — Sun, 15 Apr 2012 13:09:48 GMT

Maybe if someone is an AU/ACM on an AMEX account that backdates significantly

Re: Is it possible to be the Youngest 800 Club Member?

BN3 — Sun, 15 Apr 2012 13:18:14 GMT

My Equifax was a 792 about a year ago. Oldest account (at the time) was about 8 years and 8 months and AAoA (at the time) was 5 years. Only 1 inqury at the time. Had student loans, credit cards and a car loan all in good standing. No baddies.

I was 27.

Re: Is it possible to be the Youngest 800 Club Member?

BlueHusky — Sun, 15 Apr 2012 13:53:01 GMT

My FICO according to Wal-mart is 783, so I'm only 17 points from the 800 club. I have 4 or 5 inquiries that haven't fallen off but should soon, and my AAoA is only 3 years 8 month, so I'm sure within a year or two I will hit 800.

I just turned 22.

Re: Is it possible to be the Youngest 800 Club Member?

jmoney23 — Sun, 15 Apr 2012 15:01:36 GMT

I am so happy to hear that, you guys. Maybe I can reach my goal of a 800 credit score within three years. I was recently accepted into a high paying job, so I will be able to pay in full on credit cards and pay down a significant amount of my student loans. Yay! I am 23 right now.

Re: Is it possible to be the Youngest 800 Club Member?

marty56 — Sun, 15 Apr 2012 16:24:46 GMT

jmoney23 wrote:
I am so happy to hear that, you guys. Maybe I can reach my goal of a 800 credit score within three years. I was recently accepted into a high paying job, so I will be able to pay in full on credit cards and pay down a significant amount of my student loans. Yay! I am 23 right now.

23, Credit aware and in 3 years an 800 score, and a good job. +1000

Re: Is it possible to be the Youngest 800 Club Member?

LIGHTNIN — Sun, 15 Apr 2012 19:42:01 GMT

jmoney23 wrote:
I am so happy to hear that, you guys. Maybe I can reach my goal of a 800 credit score within three years. I was recently accepted into a high paying job, so I will be able to pay in full on credit cards and pay down a significant amount of my student loans. Yay! I am 23 right now.

You're on the right path, keep up the great work!!

My life would've been so different, like in a good way. lol If the information from this site was made available to me at 23.

You may know this already, but here are my words of advice to all.

Keep your financial info to yourself.

Be careful of friends,some only want to be your friend because of what you can do, for them money wise.

You're off to a great start in life!! Good Luck to YOU!!:smileywink:

Re: Is it possible to be the Youngest 800 Club Member?

jmoney23 — Sun, 15 Apr 2012 19:43:22 GMT

Thank you both! :smileyhappy:

Re: Is it possible to be the Youngest 800 Club Member?

Jstic — Wed, 18 Apr 2012 12:48:35 GMT

My son is 20, he is an AU on one of my accounts, and one of my wife's. Both accounts are 10+ years old and have never been late or over the limit. Other than that he has no credit history. According to TU, his credit score is 807. Equifax claims they don't have enough data to calculate a score for him.

Re: Is it possible to be the Youngest 800 Club Member?

jmoney23 — Wed, 18 Apr 2012 13:13:23 GMT

Jstic wrote:
My son is 20, he is an AU on one of my accounts, and one of my wife's. Both accounts are 10+ years old and have never been late or over the limit. Other than that he has no credit history. According to TU, his credit score is 807. Equifax claims they don't have enough data to calculate a score for him.

Yeah, I've seen that as a reason why a young person has an 800 score before. Unfortunately, the only person I did know, my grandmother, who had excellent credit and account history filed for bankruptcy just as I turned 18. I was always hoping to be an AU on one of her accounts because she had superb credit a couple of years before the bankruptcy. My mom is trying to work up her credit and does not have any credit cards. So, I guess it's just up to me.