how do i get to 800?

[takeshi74]

Why are you looking to get over 800?  Best offers are generally given at ~750+.  Also, if you're going to fixate on scores you should really be looking at FICO's and not FAKO's.

Consider all the standard factors that go into scoring:

http://www.myfico.com/crediteducation/whatsinyourscore.aspx

You can also refer to the FICO Scoring subforum for more details.

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@cakebuilder wrote:

-credit cards, 2, UTIL is zero% I PIF always:

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Ideal utilization isn't 0.  It's ~10% or less but the specific percentage will vary from person to person.  Generic recommendation is to only have 1 card reporting a balance of 10% or less for ideal scoring.  IIRC 2-3 cards are recommended for ideal scoring as well.

PIF'ing doesn't necessarily mean that your reported utilization is 0.  It will only be zero or reduced if you pay prior to statement close.  If you're paying by the due date (and after statement end) then you still have balances reporting.

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@cakebuilder wrote:

1 baddie:

co-signed for my mom, she was late 32 days ONCE. 3-yrs ago. this has been paid in full.  

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Derogs (i.e. Payment History or 35% of your score) are always a major problem. Get this addressed as it is holding you back. See the rebuilding subforum.

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@cakebuilder wrote:

inqueries:

5 total, but 3 will wipe off in 12 days 

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With which CRA's and how many with each?  You have 3 scores.  Each based on data in your reports with the CRA's.  Same goes with inquiries.  With each CRA you have a number of inquiries.

[mrgoattoo]

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@cakebuilder wrote:

how do i get to 800? my current fako is 767.

credit lines, 6 open:

-credit cards, 2, UTIL is zero% I PIF always:

citi, 4-yrs-old (CLI about $8k)

amex, 8-yrs-old (CLI about $11k) about to apply for 3x CLI but to get to $25k

-car: 2-yr-old loan

-student loans, 3, 8-yr-old loans: about $40k total

credit lines, 14 closed:

random assortment (approx average 7.5-yr age)

1 baddie:

co-signed for my mom, she was late 32 days ONCE. 3-yrs ago. this has been paid in full. 

inqueries:

5 total, but 3 will wipe off in 12 days

 I will appreciate any advice

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My FAKO is always 25 points or so below the real FICO scores for some reason. I wouldnt use anything but a legitimate FICO for anything other than just monitoring your credit for changes.

As for getting 800 it seems to just take time and consistency. Ive been at this for about 7 years or so total trying to recover from what was probably a mid 500 score or so. Finally in the last month or so I got to the 800 mark. There doesnt seem to be any legitimate way to rush it. It took longer to get thru the upper 700's than it did to get to the 760 range. For me anyway.

[cakebuilder]

thanks all for the advice. just this process seems to be a bit inconsistent. while i understand that every CB calcs differently, i dont understand why they are not more transparent. 

does anyone know how AAoA is calculated? for instance, is it weighed more favorably with open accounts or total (including closed)? 

[DaveSignal]

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@cakebuilder wrote:

thanks all for the advice. just this process seems to be a bit inconsistent. while i understand that every CB calcs differently, i dont understand why they are not more transparent. 

does anyone know how AAoA is calculated? for instance, is it weighed more favorably with open accounts or total (including closed)? 

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It depends on the FAKO you are using.  Credit Karma only calculates AAoA on open accounts.   FICO includes open and closed.  Depending on which FAKO you are trying to increase, there will be different tactics to getting it higher, as they are scored differently.   This isn't really the right forum.  I wouldn't really bother with the FAKO though, since it is really a useless score that nobody uses.  My FAKO is 978!

We can help you increase your FICO score here though.

[thom02099]

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@takeshi74 wrote:

Why are you looking to get over 800?  Best offers are generally given at ~750+.  Also, if you're going to fixate on scores you should really be looking at FICO's and not FAKO's.

Consider all the standard factors that go into scoring:

http://www.myfico.com/crediteducation/whatsinyourscore.aspx

You can also refer to the FICO Scoring subforum for more details.

---

@cakebuilder wrote:

-credit cards, 2, UTIL is zero% I PIF always:

---

Ideal utilization isn't 0.  It's ~10% or less but the specific percentage will vary from person to person.  Generic recommendation is to only have 1 card reporting a balance of 10% or less for ideal scoring.  IIRC 2-3 cards are recommended for ideal scoring as well.

PIF'ing doesn't necessarily mean that your reported utilization is 0.  It will only be zero or reduced if you pay prior to statement close.  If you're paying by the due date (and after statement end) then you still have balances reporting.

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@cakebuilder wrote:

1 baddie:

co-signed for my mom, she was late 32 days ONCE. 3-yrs ago. this has been paid in full.  

---

Derogs (i.e. Payment History or 35% of your score) are always a major problem. Get this addressed as it is holding you back. See the rebuilding subforum.

---

@cakebuilder wrote:

inqueries:

5 total, but 3 will wipe off in 12 days 

---

With which CRA's and how many with each?  You have 3 scores.  Each based on data in your reports with the CRA's.  Same goes with inquiries.  With each CRA you have a number of inquiries.

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+1 to everything that takeshi74  posted. 

Also, for whatever reason, many folks report anecdotally a varying "sweet spot" for utilisation, that one percentage location that FICO seems to like best with YOUR individual credit history.  For me, having recently reached that 800 figure (825 TU08), it was dropping my util from ~13% or so down to ~5% (actually just under).  I've reached it before (EQ - 813 -- it's been a while!).  But, at least for me, anymore the only thing it's good for is bragging rights!  I'm not seeking new credit and don't plan to in the future. And as takeshi said, anything over 750 is not really going to gain anything...just gravy on the biscuit!!

[vanillabean]

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@thom02099 wrote:

But, at least for me, anymore the only thing it's good for is bragging rights!  I'm not seeking new credit and don't plan to in the future. And as takeshi said, anything over 750 is not really going to gain anything...just gravy on the biscuit!!

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I recently discussed the 28/36 rule with a real estate agent, whose experience is that someone in the 800s will be allowed a good deal more flexibility with those percentages than someone at say 760.

[cakebuilder]

Thank you all for the advice. I'm waiting to pull my fico - 3 inqs dropping in a week. I'll do it then. Thanks all for the great advice. I will keep you posted provided this venture keeps your interest. Also, 800 is my goal because I assumed it was the goal, but now I know better. In regards to the baddie, I have tried to remove it a bunch. Wells dealer service has not been warm

[cakebuilder]

ok, some news: EQ fico 775. cant complain!

[AndySoCal]

The one thing that will slow  your progress to 800 is the 30 day late. When that falls off the credit report you should be able to get 800. I agree with the other advice about not apping. Keep in mind  higher credit limit does not equal higher scores. The credit limit only impacts the score is it impacts the credit untilization.

[DaveSignal]

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@cakebuilder wrote:

ok, some news: EQ fico 775. cant complain!

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Thasts fantastic!  I imagine that my score would be around there if my report was clean.