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Closing in on 800?

Established Contributor

Closing in on 800?

I wonder if i didn't have my inquires, would my scores close in on 800? I suppose that would mean my AAoA would go up as well since the inquires need to age to drop too.


DCU ( pulled 3/29/13) EQ04 683 | Amex (pulled 3/28/13) EX 760 | US Bank (pulled 3/28/13) EX 753
CreditKarma (4/19/13) TU-TR 701 | TU Vantage 788 | USAA FAKO (3/31/13) EX 728, EQ 699, TU 737 |
Inquiries (4/18/13) EX 13 | EQ 13 | TU 14
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Senior Contributor

Re: Closing in on 800?

good question
I have been trying to get passed 793 EQ Fico but did not succeed even without inq in 24 months. Fico did not like only 2 accounts. Now it does not like the too many recent accounts and inq..ha ha..now on my test for gardening 12 months and see what this will do. ...
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....Last HP 01 NOV 2016...............
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Valued Contributor

Re: Closing in on 800?


NJTurnpike wrote:

I wonder if i didn't have my inquires, would my scores close in on 800? I suppose that would mean my AAoA would go up as well since the inquires need to age to drop too.


Certainly, losing 13 inquiries per report would have an impact on your score; it could net you probably 50-75 points (figuring a net gain of +5 points/inq on average)! Smiley Happy

EX = 849 EQ = 850 TU = 850 as of 07/2017
Retired and Retiring Cards!
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Highlighted
Moderator

Re: Closing in on 800?


thom02099 wrote:

NJTurnpike wrote:

I wonder if i didn't have my inquires, would my scores close in on 800? I suppose that would mean my AAoA would go up as well since the inquires need to age to drop too.


Certainly, losing 13 inquiries per report would have an impact on your score; it could net you probably 50-75 points (figuring a net gain of +5 points/inq on average)! Smiley Happy


Inquiries aren't nearly that intensive on the base score, nor are they linearly penalized in the algorithm.  Sitting at a 700 or thereabouts on the DCU pull, it's unlikely it'll kick the OP up 50 points, let alone anywhere close to 800.  Amex was probably a bankcard enhanced pull anyway, but my guess is maybe 15-20 points in this case but it does depend what else is in the report.  

 

Generally speaking, for any moderately thick file, it takes a while to reach 800; 720 is pretty much obtainable by virtually everyone without significant derogatories within a a year or two... get comfy after that though, diminishing returns are littered throughout the model.

 

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 771, TU 4 758, EX 2 758, EQ 8 795, TU 8 762, EX 8 786 (7/28/17)
Goal Score:    EQ 5 750, TU 4 750, EX 2 750, EQ 8 800, TU 8 Blah, EX 8 800 (01/01/18)


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