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Fico Score of 850

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New Contributor

Re: Fico Score of 850

I've paid off almost a dozen unsecured personal loans. Just paid off a $10,000 loan I opened back in September 2013. Paid it off in 5 months instead of 36. I always seem to get one of these big loans once per year. Paid off a handful of car loans too. Hopefully, I will be back at 800 by September 2014.

If you are trying to get a huge loan to jump start your business. I really feel you need to show the banks you are credit worthy by getting larger and larger installment loans too and not just credit card accounts.

 

You can have a high score like 750 and only have a couple thousand dollars worth of credit and a few years of history. But that just shows the bank you can handle a small monthly payment. Paying a $1,200 credit card every month without fail is not in the same league as paying a $300,000.00 mortgage or a $60,000 car payment every month.

 

It is unreasonable to think that a bank will loan you tens of thousands of dollars after just 6 months worth of on time payments on a store card like Bestbuy. It takes time and a lot of different accounts and types to build your way to 800.    

 

On my Myfico Credit report it says the following:

 

About 93% of FICO High Achievers have no missed payments at all. But of those who do, the missed payment happened nearly 4 years ago, on average.

 

FICO High Achievers opened their oldest account 19 years ago, on average.

 

 

Most FICO High Achievers have an average age of accounts between 6 and 12 years.

 

Virtually no FICO High Achievers have a public record listed on their credit report.

 

 

Virtually no FICO High Achievers have a collection listed on their credit report.


Starting Score: TU 749 02/02/2014
Current Score: TU 749 02/02/2014
Goal Score: 850


Message 21 of 53
Established Contributor

Re: Fico Score of 850

My TU08 score is 850 as of the last check.

Fico 8 11/8/16
Equifax 836, TransUnion 836 12/30/16 , Experian 842 1/11/17 . AAOA 12 years Oldest 20
No inquires since 2014
All credit reports frozen
Fico 8 Equifax Bankcard 866 12/27/16
Message 22 of 53
Super Contributor

Re: Fico Score of 850

RED_Knives - went to MYFICO.COM and researched. What the site told me was that High Achievers have the following: 19 years since opening their first revolving account; has been 27 months since applying for new credit; Non-mortgage installment debt is not more than 35%; 93% have no missed payments; utilization is less than 7%; Average Age of Accounts is between 6 to 12 years. Assume this would apply to others.
Starting Score: 807
Current Score: 828
Goal Score: 850


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Message 23 of 53
New Member

Re: Fico Score of 850

II'm curious as to what % of the population actually have an 850 on any FICO model.  I've read articles that say it doesn't exist and other articles that say 1% of the population has an 850, which seems extreme on both ends.  I pulled my EQ FICO score in 02/13 which was 839, and I recently signed up for the Disconver IT card, just so I could see a free, true FICO score every month.  I was pleased to see that it was 847 as of 01/19/14, which got me wondering how many people have a higher score.  My research taught me that the EQ score is from a classic FICO 04 model that they use and that discover card is using a TU classic FICO 08 model, which differs from the TU FICO 98 model that myfico.com reports.  So, does anyone know how many people attain 850?

Message 24 of 53
Valued Member

Re: Fico Score of 850

Hey thanks for the reply, yeah its a bit od how your daughter Thom02099 has a better score. but I think it makes sense since you stated she cares and how she applied for more CC. This kind of need and want must be apparent to the credit agencies when reviewing our files and so im sure they gave her a higher score because of that they could pick up on her wanting more credit yet being responsible.

Starting Score: 651
Current Score: 730
Goal Score: 800

Credit Cards and Credit Limits: Barclay 7250, AMEX 2000, Discover 6250, Cap OnePlat 3000, BestBuy 3000, Chase 3500, Paypal 4300, Walmart 1000, BOA 2000, Kohls 800, Target RED 500, Les Schwab 500, TOTAL 34900 OldestAc1.8 years
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Message 25 of 53
Valued Member

Re: Fico Score of 850

Wade64 man thats awesome I would like to be there someday!

Starting Score: 651
Current Score: 730
Goal Score: 800

Credit Cards and Credit Limits: Barclay 7250, AMEX 2000, Discover 6250, Cap OnePlat 3000, BestBuy 3000, Chase 3500, Paypal 4300, Walmart 1000, BOA 2000, Kohls 800, Target RED 500, Les Schwab 500, TOTAL 34900 OldestAc1.8 years
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Message 26 of 53
Valued Member

Re: Fico Score of 850

Revelate, if its almost impossible to get a score of 850 why does it even exist. how could such a high score really benefit you and would it be hard to acquire? do these people do anything special to get such a score?

Starting Score: 651
Current Score: 730
Goal Score: 800

Credit Cards and Credit Limits: Barclay 7250, AMEX 2000, Discover 6250, Cap OnePlat 3000, BestBuy 3000, Chase 3500, Paypal 4300, Walmart 1000, BOA 2000, Kohls 800, Target RED 500, Les Schwab 500, TOTAL 34900 OldestAc1.8 years
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Message 27 of 53
Valued Member

Re: Fico Score of 850

"Virtually no FICO High Achievers have a public record listed on their credit report."

Acleynes does this mean like a criminal record or something else?

Starting Score: 651
Current Score: 730
Goal Score: 800

Credit Cards and Credit Limits: Barclay 7250, AMEX 2000, Discover 6250, Cap OnePlat 3000, BestBuy 3000, Chase 3500, Paypal 4300, Walmart 1000, BOA 2000, Kohls 800, Target RED 500, Les Schwab 500, TOTAL 34900 OldestAc1.8 years
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Message 28 of 53
Valued Member

Re: Fico Score of 850

Blondy250 thats a pretty legit signature man haha!

"Because your FICO® score is exceptionally high, there are no actionable negative factors present with your score".

Starting Score: 651
Current Score: 730
Goal Score: 800

Credit Cards and Credit Limits: Barclay 7250, AMEX 2000, Discover 6250, Cap OnePlat 3000, BestBuy 3000, Chase 3500, Paypal 4300, Walmart 1000, BOA 2000, Kohls 800, Target RED 500, Les Schwab 500, TOTAL 34900 OldestAc1.8 years
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Message 29 of 53
Valued Member

Re: Fico Score of 850

acleynes,

So my next step would be to get an installment loan but I'm not sure what kind I should get? I don't feel like I really need anything.

I already have a nice car,

hmm... what can a 22 year old use at his age money wise that would require an installment loan. I really gotta mix up my portfolio for the reporting agencies to see i don't just have CC's. where should I start guys?

Starting Score: 651
Current Score: 730
Goal Score: 800

Credit Cards and Credit Limits: Barclay 7250, AMEX 2000, Discover 6250, Cap OnePlat 3000, BestBuy 3000, Chase 3500, Paypal 4300, Walmart 1000, BOA 2000, Kohls 800, Target RED 500, Les Schwab 500, TOTAL 34900 OldestAc1.8 years
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Message 30 of 53