Reply
Established Contributor
Posts: 662
Registered: ‎02-20-2013
0

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
Community Leader
Senior Contributor
Posts: 4,342
Registered: ‎11-13-2012
0

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. ...
Move the mouse over the cards for detailed view!
FICO® EQ 797 (as of today) - TU 773 (03/28) - EX 781 (04/03).. ¦ ..Fako EX 770 (04/03 - CS)
Vantage score 3.0 TU 770 - EQ 793 (CK 04/03).. ¦ ..AAoA 3yrs9mts.. ¦ ..INQ EQ (2) TU (5) EX (2)


Valued Contributor
Posts: 1,443
Registered: ‎08-30-2011
0

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)! :smileyhappy:

Diners Club Premier MasterCard $50K / AMEX Gold NPSL / AMEX Zync NPSL / AMEX Blue Cash Preferred $14K / Bank of America Cash Rewards Signature Visa $15K / Merrill Lynch Plus Signature Visa $15K / Wells Fargo Propel 365 $15K / Chase Sapphire Preferred Signature Visa $10K / J P Morgan Select Signature Visa $10K / Chase Slate Visa $6K / CITI Diamond Preferred MasterCard $13.2K / Discover IT $10.5K / IberiaBank Select Visa $8K / 1st Command Bank Platinum Visa $7.5K // Home Depot $9.7K / Lowes $10K

EX = 818 EQ = 822 TU = 830 - 01/2015
Moderator Emeritus
Posts: 10,907
Registered: ‎12-30-2011
0

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)! :smileyhappy:


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 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 693, EQ 8 685, TU 705, EX 709 (02/27/15)
Goal Score: 700 on EQ 04 (01/01/16)


Take the myFICO Fitness Challenge
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.