Examples of the Elusive Theoretical 850 FICO score and Fair Isaac Algarithom.

[Anonymous]

Here was another credit report example of an 835 FICO score.

http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&message.id=3030

Message Edited by ilovepizza on 09-15-2007 09:49 AM

[Anonymous]

Understanding that the formula is secret, if all factors were equal except age is 850 even possible for the ages below?

Total age of credit reports and age of accounts where apply.
1-5 ....months to hit 850? = The obvious answer for this is No.
below 5..years to hit 850?
5-10 ....years to hit 850?
11-20 ...years to hit 850?
21-40 ...years to hit 850?
over 40 .years to hit 850? = The obvious answer for this is Yes.

Again assuming that all other (unknown secret) factors were present. This does not give away any requirements that can be manipulated. So telling us if it is even possible should be safe. Is there anyone that could even know the answer to this question? If so please post what knowledge you have. Thanks.

[Kevin5974]

It boggles my mind how people hit that precious 800 mark to begin with. I know both my parents have hit it and are at about 830-840. They have mortgage that is 50% paid off and several credit cards. I know my mom has a Target Visa with a $22,000 CL ( I didn't know it could even go that high ) and my father uses American Express Platinum (likes to pay in full) but what astounded me is the interest rate he got on his Infiniti. Keep in mind he bought it slightly used (about 6 months) and bought it private party and was able to get a loan for about $30k with an interest rate in the low 4% range. I haven't even heard of this for a used car. It totally pays off to work for it but I think if you obsess about it like we do, it may never come. I think it's just gonna happen to good people that pay their bills on time not to get their credit scores up but just self discipline and good values...

[MidnightVoice]

A high credit score is really the result of fiscal responsibility and living within your means.  Do it all properly and the rewards will come.... 

[Anonymous]

> I know my mom has a Target Visa with a $22,000 CL ( I didn't know it could even go that high )

Key to acquiring high credit lines is simply a matter of stated income, often times stated household income.  Many CCs will allow credit lines to go to about $25K rather quickly.  Past $25, $50K is the next level of resistance and it is a bit harder.

IMO if you have an annual income of $X, a very good payment history, no recent cards (recent = 1 year, more conservatively 2 years), low utilization, and a high, close to 800 FICO score, you can get a credit line in the amount of $X / 2 from most of the issuers: BofA, Citi, Chase, Am3X.

There are people with $150K income and $500K unsecured lines from 8-9 issuers combined, i.e. $50K or more per issuer.

They do have great credit histories, but nothing like 830 FICO scores.

If you want high credit lines, use cars from this issuers diligently and ask for CLI like clockwork.

Message Edited by ChumChurum on 08-07-2007 06:21 PM

Message Edited by ChumChurum on 08-07-2007 06:22 PM

[MidnightVoice]

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ChumChurum wrote:

IMO if you have an annual income of $X, a very good payment history, no recent cards (recent = 1 year, more conservatively 2 years), low utilization, and a high, close to 800 FICO score, you can get a credit line in the amount of $X / 2 from most of the issuers: BofA, Citi, Chase, Am3X.

There are people with $150K income and $500K unsecured lines from 8-9 issuers combined, i.e. $50K or more per issuer.

If you want high credit lines, use cars from this issuers diligently and ask for CLI like clockwork.

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If I needed to use an amount equal to half my income in one month methinks I would not use a credit card 

[Anonymous]

> If I needed to use an amount equal to half my income

> in one month methinks I would not use a credit card.

You thinks conservatively and it is probably better for you and your score.

It all really depends on what you do with that amount of credit.  If you go and spend on consumption goods, you are basically screwed.  But if you can turn that money around as investment, it is a different idea.

Many people, small business, large business, use credit to grow business and make more money.

[MidnightVoice]

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ChumChurum wrote:

Many people, small business, large business, use credit to grow business and make more money.

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Agreed.  I just prefer different sources of credit, and don't fancy arbitrage with 0% APR cards as I know I would screw it up 

And back to original thread topic:

One thing a person with a very high FICO score does not do is move house a number of times - that has multiple small dings on your score 

[autofly]

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ilovepizza wrote:
Please post Examples or post what you have learned as FACT and Opinion of the Elusive Theoretical 850 FICO score and Algarithom.

Fair Isaacs gives us little clues made public here and there.

Like reaching the 820-830 FICO score. Not hard if you follow the rules given to us from MyFico.com.

I would like to see CR's from people that have scores in the 840's. Most people seem to have a FICO limit between 820-830. There are reasons why you are not going higher. I am searching for these reasons. You can't open a lock if you don't have the key.

.

Please post all known types of credit here., Such as different installments, revolving ect... Knowing what tools we have and items that might be missing can be an important factor. For instance. If you don't have an installment on your credit report your score will be higher after you have had a long term installment.

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If you think "Inside the box", Reaching 800, piece of cake. 820, just as easy. 830, takes years.

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Breaking 830's... people that have broken 830's this is for you. You've been able to "Think out side the box". Congratulations! I know as simple as it is, please share some ideas with us to go from 840 up to 850?

So many people I talk to say I don't want to share. Well, I am sharing some of the things I learned, please share back. Even if you don't want to tell us how you got in to the 840's at least tell us what doesn't work. Thanks.

Message Edited by ilovepizza on 06-19-2007 10:40 PM

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Do you really think that people with scores in the 840's are reading credit boards and info about boosting their credit?

[Anonymous]

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@autofly wrote:
Do you really think that people with scores in the 840's are reading credit boards and info about boosting their credit?

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Their are those seeking 850. I have seen members on this and other forums that say they have reached 840's. Only those that have reached it can say how credible. I believe the few I have seen based on their credit reports shown.