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Established Contributor
rifleman
Posts: 565
Registered: ‎06-11-2007

what is the credit profile of someone with a 760 or higher?

It seems liked 760 is when a score goes from "very good" do "great" according to scorewatch and to most lenders.

Can someone tell me what the profile is like of someone with a 760 or better?
I know everyone's situation is different.

My highest Fico is currently 740 as of today

My Profile:
Total Accounts: 13
Open: 8
Closed: 5
Accounts w/ balances: 4 (2 CC's, 2 Install)
Oldest account: 8 years
Youngest account: 1 month
Total revolving Limit: $10,940 (500 CL from capital one not included)
Utilization: 99% available credit
Public records: 0
Inquiries: 0
Late Payments: (2)60 day late payments--one in 2005, one in 2003

In my case what's hurting me are those 2 lates and my newest open account.
FYI my score was 590 in February of this year
Regular Contributor
jschaffer
Posts: 147
Registered: ‎07-24-2007

Re: what is the credit profile of someone with a 760 or higher?



rifleman wrote:
It seems liked 760 is when a score goes from "very good" do "great" according to scorewatch and to most lenders.

Can someone tell me what the profile is like of someone with a 760 or better?
I know everyone's situation is different.

My highest Fico is currently 740 as of today

My Profile:
Total Accounts: 13
Open: 8
Closed: 5
Accounts w/ balances: 4 (2 CC's, 2 Install)
Oldest account: 8 years
Youngest account: 1 month
Total revolving Limit: $10,940 (500 CL from capital one not included)
Utilization: 99% available credit
Public records: 0
Inquiries: 0
Late Payments: (2)60 day late payments--one in 2005, one in 2003

In my case what's hurting me are those 2 lates and my newest open account.
FYI my score was 590 in February of this year


You think a 740 is bad? Once you surpass 720 it doesn't even matter anymore. As far as a lender is concerned, there's no real difference between a 720 and a 760 at that point. :smileyhappy:
Regular Contributor
tessarue
Posts: 118
Registered: ‎08-01-2007

Re: what is the credit profile of someone with a 760 or higher?



rifleman wrote:
It seems liked 760 is when a score goes from "very good" do "great" according to scorewatch and to most lenders.

Can someone tell me what the profile is like of someone with a 760 or better?
I know everyone's situation is different.

My highest Fico is currently 740 as of today

My Profile:
Total Accounts: 13
Open: 8
Closed: 5
Accounts w/ balances: 4 (2 CC's, 2 Install)
Oldest account: 8 years
Youngest account: 1 month
Total revolving Limit: $10,940 (500 CL from capital one not included)
Utilization: 99% available credit
Public records: 0
Inquiries: 0
Late Payments: (2)60 day late payments--one in 2005, one in 2003

In my case what's hurting me are those 2 lates and my newest open account.
FYI my score was 590 in February of this year

Wow, great gain since Feb!
2/11/08: EQ 768
3/21/08: EX 738
2/20/08:TU 773
4/19/08: WaMu Pfico 804
TransRisk 807
Senior Contributor
FretlessMayhem
Posts: 3,279
Registered: ‎08-03-2007

Re: what is the credit profile of someone with a 760 or higher?

I didn't think your FICO could get that high with any derogatory information.
 
I sure hope I can join the 700 club someday.
Here we go again...
New Contributor
jcmycology
Posts: 56
Registered: ‎08-06-2007

Re: what is the credit profile of someone with a 760 or higher?

You moved along pretty well - good job.
how many baddies did you drop to make it to where you are today?
I'm not at 760 yet but will be soon :smileyhappy:
I'm at mid to high 6's...been dormant for while and working on getting new credit, no recent credit and 2 baddies, mostly learning this stuff for the other half .
Super Contributor
MidnightVoice
Posts: 8,158
Registered: ‎03-25-2007

Re: what is the credit profile of someone with a 760 or higher?


MidnightVoice wrote:
From MyFico:
 
FICO High Achievers have credit scores of 760 or above.
 
FICO High Achievers opened their most recent account 27 months ago, on average
 
About 72% of FICO High Achievers did not apply for credit in the past year. Of those that did, about 20% applied for credit just once. (They obviously do not use cell phones :smileyvery-happy: )
 
Only about 1% of FICO High Achievers have a 60 days late payment or worse listed on their credit report.
 
Most FICO High Achievers (about 93%), have no missed payments at all. But of those who do have a missed payment, it 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.
 
For FICO High Achievers the ratio of  revolving balances to credit limits is 7%, on average.
 
FICO High Achievers opened their first revolving account 19 years ago, on average.
 
Virtually no FICO High Achievers have a public record or a collection listed on their credit report.


The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Moderator Emeritus
fused
Posts: 16,243
Registered: ‎03-12-2007

Re: what is the credit profile of someone with a 760 or higher?

_______________________________________________________________________________
 
MidnightVoice wrote:
 
About 72% of FICO High Achievers did not apply for credit in the past year. Of those that did, about 20% applied for credit just once. (They obviously do not use cell phones )
 
_______________________________________________________________________________
 
 
A lot of the high achievers are old timers, therefore they use pay phones!:smileyhappy: No credit pulls, PIF, 0% util and no new account!
Senior Contributor
ilovepizza
Posts: 3,071
Registered: ‎05-17-2007

Re: what is the credit profile of someone with a 760 or higher?



rifleman wrote:
It seems liked 760 is when a score goes from "very good" do "great" according to scorewatch and to most lenders.

Can someone tell me what the profile is like of someone with a 760 or better?
I know everyone's situation is different.

My highest Fico is currently 740 as of today

My Profile:
Total Accounts: 13
Open: 8
Closed: 5
Accounts w/ balances: 4 (2 CC's, 2 Install)
Oldest account: 8 years
Youngest account: 1 month
Total revolving Limit: $10,940 (500 CL from capital one not included)
Utilization: 99% available credit
Public records: 0
Inquiries: 0
Late Payments: (2)60 day late payments--one in 2005, one in 2003

In my case what's hurting me are those 2 lates and my newest open account.
FYI my score was 590 in February of this year




A 760+ FICO score looks just like yours with some exceptions.
=> Oldest account: 8 years. (many 760+ have the oldest at least 10 yrs)
=> Late Payments: (2)60 day. (mostly all 760+ have no negs)
also (Many 760+ scores have 1 credit limit over $10,k)

This doesn't mean you have to have the above but it helps.
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Established Contributor
rifleman
Posts: 565
Registered: ‎06-11-2007

Re: what is the credit profile of someone with a 760 or higher?

I had a lot of late payments and terrible utilization--the two biggest things I corrected were these things.

The two biggest reasons that my score went up so much--from 590 to 740 was because
I got a lot of negative info removed thru disputing and GoodWilling, and because I got
my utilization down to under 10% for the past 4 months (1%) this month. I also added nearly 10,000 of new credit--up until that time I only had two cards--orchard bank and capital one, both with $500 limits

This is what my credit report looked like with a 590:

total accounts: 10
open accounts: 5
closed accounts: 5
accounts w/ balances: 5
Total Revolving Credit line: $500
Utilization: USING OVER 95% AVAILABLE CREDIT
INQURIES: 6
PUBLIC RECORDS: 1 CHARGE OFF
LATE PAYMENTS (8) 30 DAY LATES, (4) 60 DAY LATES (3) 90 DAY LATES

So as you can see I have done some major cleaning
Super Contributor
MidnightVoice
Posts: 8,158
Registered: ‎03-25-2007

Re: what is the credit profile of someone with a 760 or higher?



fused111 wrote:
_______________________________________________________________________________
 
MidnightVoice wrote:
 
About 72% of FICO High Achievers did not apply for credit in the past year. Of those that did, about 20% applied for credit just once. (They obviously do not use cell phones )
 
_______________________________________________________________________________
 
 
A lot of the high achievers are old timers, therefore they use pay phones!:smileyhappy: No credit pulls, PIF, 0% util and no new account!



Pay phones? Bloody Cheek :smileyvery-happy:
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
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