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How More Americans are Getting a Perfect Credit Score - Bloomberg

Administrator

How More Americans are Getting a Perfect Credit Score - Bloomberg

Thought this article was interesting, as many on the forums can relate: https://www.bloomberg.com/news/features/2017-08-14/obsessives-have-cracked-the-perfect-fico-credit-s...

Message 1 of 11
10 REPLIES
Contributor

Re: How More Americans are Getting a Perfect Credit Score - Bloomberg

Fantastic info in that article. Thanks for sharing!
Message 2 of 11
Community Leader
Super Contributor

Re: How More Americans are Getting a Perfect Credit Score - Bloomberg

very interesting article!! That was nice share, thanks!
(BK7 d/c-08/2013/FICO-400's) ~ 07/2017 FICO 08- EQ-669, TU-676, EX-681
Scores being held down by tons of INQ/New acts Smiley Wink
Message 3 of 11
New Contributor

Re: How More Americans are Getting a Perfect Credit Score - Bloomberg

Good article. I have also become obsessed with trying to pull up and maintain a good credit score. My goal is to at least reach 800. I have started my journey and although I am struggling to bring my UL down, its getting there. I just have to remember to stay focused.

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Message 4 of 11
Senior Contributor

Re: How More Americans are Getting a Perfect Credit Score - Bloomberg

"Ethan Dornhelm, vice president for scores and analytics at FICO, said the company sees “no evidence of score gaming.”"

 

Obviously, Ethan has never visited this forum.  Smiley Wink

Message 5 of 11
Valued Contributor

Re: How More Americans are Getting a Perfect Credit Score - Bloomberg

Seems silly to obsess over trying to get 850 score.     740 gets you the best mortgage rates.  I wouldn't get a car loan just to improve my score.

BOA Cash Rewards, AMEX BCE, AMEX PRG, AMEX Ameriprise Platinum, AMEX SPG, CITI AADvantage Platinum, Chase Hyatt, Chase Southwest Premier, Chase Southwest Plus, Barclay Arrival +, Barclay AAdvantage Red Aviator, USAA Prefered Cash Rewards , Cap One Quicksilver, Lendup L card, JCrew, Pottery Barn, Express, NFCU Go Rewards.
Message 6 of 11
Valued Member

Re: How More Americans are Getting a Perfect Credit Score - Bloomberg

Thank you for posting, 

I myself have always been a "If I'm going to do something I'm going to do it right and the very best I can". 

My goal is to have the very best Fico score I can. My financial track record means alot to me and I believe in many ways your Fico score is better than Cash. We all have different priorities in Life and to each his own. I wish only the best for people. Just think (as a Previous Financial Advisor, every single person is different in which "Risk - Reward" and "Wants and Needs" is a factor). Not one person will be alike, Not One. 

Thank you for sharing 

Mako50 

 

Mako50
Message 7 of 11
Highlighted
Regular Contributor

Re: How More Americans are Getting a Perfect Credit Score - Bloomberg

Great article!  Thanks for posting.

 

I'm currently trying to hit a certain score and this article solidified that I am moving in the right direction.  It's exhausting, but I know it's going to be worth it in the end.

Message 8 of 11
Valued Member

Re: How More Americans are Getting a Perfect Credit Score - Bloomberg

It will be worth it. I say keep paying on time #1. Starting off will be a very trying time. Once you get a good card. Take your time, use your cards but keep at no more than 30%. Once you build a set of good cards, you can pay off the ones with ridiculously high fees, but use them for something small every 3 months. Just to keep open, then once you finally get your score in the good range, close one of the worst cards but NOT your OLDEST. You have to keep that one till the others get to well, my advice would be 15 yrs old. Then one every 6-9 months close another bad card, by this time following the credit chart your score should be pretty darn good. So you can take a hit "few points" shaved off. Like I said I went through 10 yrs of very rough times but I stayed conservative. Your situation could be faster I hope. But I'm ready to pounce on certified letters and I by the end of next year, maybe sooner will (should) be where my goal of mid 8s.
I hope this helps some and I wish you great Success.
Take your time and be conservative.
I know you will Succeed
All the best
Mako50
Mako50
Message 9 of 11
Regular Contributor

Re: How More Americans are Getting a Perfect Credit Score - Bloomberg

LOL, anyone get this error trying to click the link from here? (I had to open in incognito.)

 

Capture.PNG

2017-09-09 FICO 08: EQ 677, TU 640, EX 705
2017-11 FICO 08: TU 700, EX 716
2017-12 FICO 08: EX 722
Gardening until Jan 1, 2018
Approvals Data Dump: https://pastebin.com/Lz7yZZvv
Message 10 of 11