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10-30-2007 01:56 PM
11-01-2007 02:39 PM
11-02-2007 03:37 PM
11-02-2007 03:45 PM
High Achievers we are not.What avg and oldest aging is necessary for a 740-750 FICO score? Not looking for 800 at this point, just at what point does aging not result in a "factor that is lowering your score"????
11-02-2007 04:47 PM - edited 11-02-2007 04:50 PM
11-02-2007 07:41 PM
aaarrgghhhh... fused, that's just cruel. Isn't average and overall length of credit one of the drivers of buckets? You were the one who suggested that it was my going from 3 av/ 12 longest to 4 av/ 18 longest that reassigned me!
There must be some sort of step system. Boscoe, when I got re-assigned, the "for instance" that FICO gave me was moving from new credit user to having 2-5 years or longer. So maybe that means that there's a divide at 2 years, and again at 5 years. Here's the message that I got:
You moved from one category of credit users to another as time passed. For example, you may have transitioned from the category "consumers with a new credit history" to the category "consumers with a two- to five-year credit history". As a result, your credit report is evaluated differently, causing a slight change in your score. The good news is that moving between categories like this usually offers you the potential to reach a higher FICO® score in the future.
Of course, it's a hypothetical example, and in fact I went from 12 to 18 years, but maybe it's a glimpse into the dark secret world of FICO and credit history stages.
edit: I'm guessing that, unless you're a college freshman with minimal but clean history, you need to have 5 years on your longest TL to realistically look for a chance at 740's - 750's, as long as everything else is good.
Message Edited by haulingthescoreup on 11-02-2007 04:50 PM
11-02-2007 07:55 PM
11-03-2007 04:07 AM
11-03-2007 04:41 AM
Boscoe wrote:High Achievers we are not.What avg and oldest aging is necessary for a 740-750 FICO score? Not looking for 800 at this point, just at what point does aging not result in a "factor that is lowering your score"????