810 Score

[Anonymous]

I have a score of 810 and at the bottom of the page it says “insufficient length of credit history.”  I have impeccable credit and just want to know what this means?

[Anonymous]

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@Anonymous wrote:

I have a score of 810 and at the bottom of the page it says “insufficient length of credit history.” I have impeccable credit and just want to know what this means?

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Hi Sam... Please give us some ideas as to your great score and how you got there???? What were the key protocols you used. I am stuck and don't seem to be getting any increases in scores...takes forever. Any suggestions as I have a clean record also but not lots of longevity. Would this be the key factor?

[Anonymous]

To provide a yardstick for anyone wanting a high FICO score, we offer the following facts about consumers who already have high FICO scores -- between 775 and 850. No late payments or other payment problems listed on their credit reports. Most use less than 10 percent of the amount available to them on credit cards. Most have credit histories of over 20 years Most have opened no more than one new credit account in the past year. Most have between 6 and 15 credit accounts listed on their credit reports. Of those accounts: Between 3 and 6 accounts are active, the rest are no longer active; Between 2 and 6 accounts are credit cards issued by banks; Between 2 and 5 accounts are credit cards issued by retail stores; Between 1 and 4 accounts are car loans, mortgages, student loans or other types of installment account (that is, loans repaid in installments).

[Anonymous]

I hate to say it but lots of time the FICO model will give you a statement simply because it can find nothing else as to why your score isn't perfect.  If that is the only reason you're given with scores that high its not a big thing.

[Anonymous]

There is no such thing as the 850 score so there are codes to explain why the score is less than 850. It's nothing to worry about or that you can really do anything tangibly to change. Don't sweat it.

[Tavares]

Hi Guys,

My Wife has had only student loans since 2002 on her credit history. and her score is 770.   She has not enough history written all over her report, she I just listed her on my credit cards with i monitor religeouly and pay everymonth to help out.   Hopefully she will have a stellar credit in the future.  She is of to a good start .  Mine is about 646 right now primarily due to lack of history too.  We both started getting loans and credit cards around 2002.

Good Luck Guys,

Joao

[Anonymous]

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@Anonymous wrote:

I have a score of 810 and at the bottom of the page it says “insufficient length of credit history.” I have impeccable credit and just want to know what this means?

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What that means is that you're just about as high as you can get. Much higher and Bill Gates or George Soros might just have to rub you out...they hate competition. So be thankful you're not any higher.

No, actually what others have said is right: once you get past 775 or so, you're approaching a lot of asymptotes in terms of positive influences on your credit. The software then nitpicks to find the slightest reasons why you don't have that 850.

Bottom line is you really don't gain much in terms of interest rates or loan eligibilities past 750 or so. From 600 to 650, you gain 3-4%. From 650 to 700, maybe 3%. 700 to 750, about 1%. From 750 to 800, maybe 0.2%. From 800 to 850, your gain in interest rates is negligible.

[Tuscani]

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Credit_Author wrote:
There is no such thing as the 850 score so there are codes to explain why the score is less than 850. It's nothing to worry about or that you can really do anything tangibly to change. Don't sweat it.

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Not true. There are people with an 850.

[Anonymous]

What do they do for fun?  LOL

[Tuscani]

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masdeocho wrote:

What do they do for fun?  LOL

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Wish I knew!