Fico Score of 850

[RED_Knives]

Credit Manager,

Can I sign up to get a notification when this is released I would love to read it!!!

[RED_Knives]

oshkoshguy,

Thats not a bad question I'm not too sure. If I found out you'll be the first to know.

[Revelate]

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@RED_Knives wrote:
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?

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It doesn't benefit anyone; there's nothing which requires a credit score greater than 760 perhaps to date.  The FICO algorithm loses resolution at either end of the scale like most predictive models.  

The newer models have nice pretty round numbers for their max (850 or 900); I suspect it was normalized to these to reduce the confusion, but if you look at the older scoring ranges it's off.  Take the Transunion "FICO® Risk Score, Classic 98" which is sold here: the score range is 336 - 843.

[Revelate]

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@RED_Knives wrote:
"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?

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Tax lien, Bankrupcty, judgement, similar.

Criminal records are seperate.

[oshkoshguy]

Thanks Redknives - I've never seen anything definitive from a "myFICO" source, and with so many different "FAKO" scores, as well as the FICO variants, I'm just curious where I stand.  The Ironic part of getting the Discover card to see my FICO score should in theory make my score drop a few points when they report next month, as my average age will go down and a possible hard inquiry will show up.  I'm almost assured that 847 will be no more.

[oshkoshguy]

I did get an email back from myFico and they did indeed claim that 1% of the population has an 850...........

Hello Matt,

Thank you for contacting myFICO Customer Care. About 1% of people have a perfect FICO Score.

Regards,
myFICO Customer Support
www.myFICO.com

[grehmer]

Two years ago my score was 815 I just checked today and it is 850, woohoo!

1) I have multiple credit cards - 7 I think

2) Use mostly 3 or 4 of them on a regular basis

3) Charge between $1,000 to $2,000 (Combined) each month

4) Pay them off each month.

5) Owned most of them for more than 10 years

6) Have carried a zero balance on all of them those entire 10 years 

7) I have a home loan

8) Paid off my student loans about 4 years ago.

9) I'm a nice guy

[NikoD]

I saw my FICO score for the first time last month when it showed up on my Discover statement. It's 828. I only had 2 open CC accounts that are 16 and 17 years old and one closed store card that was opened in 2005 and closed 3 years later. That's it, there is nothing else showing up on my CR. Of course FICO isn't everything. If an actual person were to look at the CR they would see that there is no history other than revolving accounts, so that may give some (non CC) lenders pause. The reasons given for it not being even higher were that there were no non mortgage installment loans and too few open accounts. I did just decide to open another CC with better benefits than my current ones so I'm waiting to see how much of a drop my score will initially take.

[mrgoattoo]

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@RED_Knives wrote:

"$27,000 something" is there a way to prevent something like that from happening? did the webpage double send your request? how does that happen?

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Thats another thing that freaks me out.

Ive made payments online before that double paid for some reason.

Thankfully I caught it because the account that I pay the CC's out of (we have a few bank accounts, too many) usually doesnt have much money in it after all the payments clear....probably less than$100 after the smoke clears on a typical month.

[oshkoshguy]

Just a follow up - great irony here - by getting the Discover IT card to see my FICO score for free, my score went from 847 to 833 ...... reason cited "TIME SINCE MOST RECENT ACCOUNT OPENING IS TOO SHORT:"  It will go back up in time I'm sure.