Reply
Contributor
LilyBee
Posts: 84
Registered: ‎01-23-2009

Re: Expanded "FICO High Achievers" (scores of 760 and above) characteristics list

And2624: 

 

Well, it looks like you qualify until the axe comes down.  Also, good time to get a mortgage with rates so low.  

--------------------------------------------------------------------------------
Starting Score (1/1/07) - EQ: 813 -- TU: 804 -- EX 825

Current scores (8/13/13) - EQ-801 -- TU-778 -- EX-827

Goal Score (12/31/14): Whatever
Valued Contributor
lg8302ch
Posts: 2,471
Registered: ‎11-13-2012

Re: Expanded "FICO High Achievers" (scores of 760 and above) characteristics list

[ Edited ]

Can anybody check how reliable this calculator is? 

 

http://www.creditcards.com/credit-score-estimator/excellent-credit.php

 

As an out of country resident I hate to pay for my scores all the time. I did it now to check where I am standing but would like to do it again in about 4 - 6  months or so. My present scores from the paid service resulting from TU, EQ and EX directly are close for me. TU is exact match on lowest score from above calculator.  The 820 though is definitely not matching other than looking at the Vantage score maybe. This poped up with 819 but I believe also does not end at 850 and goes into the 900's.

 

Would anybody be willing to test it for me and see if their scores on above link come close to the real scores only by  simply answering the questions acurately ? (lowest score only compared to lowest score from above)

 

Curious to see if it is a coincidence or if it actually could be used to check score behaviours without paying all the time. Quite expensive like this if you want to keep an eye on all 3 :womansad:

 

cheers

 

 

PS: very helpful post below for me - Thanks haulingthescoreup. 

FICO® EQ 784 (as of today) - TU 777 (07/03) * Fako EX 799 (07/02 - CS) * last app 06/01/14 * INQ last 2 yrs TU: 5, EX: 7, EQ: 7


Move the mouse over the cards for detailed view!..................................................................* Bronze Spade Garden Club member *
Moderator Emeritus
llecs
Posts: 32,880
Registered: ‎08-04-2007

Re: Expanded "FICO High Achievers" (scores of 760 and above) characteristics list

The score estimator through creditcards.com isn't FICO-related. Their range is showing as 350-850 which isn't a FICO range (vs. 300-850). I ran through the simulator and mine was off by at least 80 points based on their range. Also, some of their questions didn't even apply to FICO scoring. I didn't study the site, but I know at one point in time creditcards.com resold a credit monitoring service that offered a CreditXpert score. Lender's don't use this score, but I believe it has the same range of 350-850 and some of the verbage in their simulator is similar to what they offered at that time.

 

BTW, you can find a FICO simulator on here somewhere. If not here, then Bankrate.com offers a basic FICO simulator. While some folks swear by these simulators, I'm not too fond of them. FICO included soooo much more than what can be offered within a simulator.

Valued Contributor
lg8302ch
Posts: 2,471
Registered: ‎11-13-2012

Re: Expanded "FICO High Achievers" (scores of 760 and above) characteristics list

[ Edited ]

@llecs

Thanks a lot for this info. Maybe I should have mentioned that I do not have any installment accounts, no mortgage and no loans. My credit score is based only on recurrent accounts and for the moment only two BofA Platinum cash reward cards  1 x since 1986 with 5K and 1 x since 2011 with 3,5K. Other cards I own are issued in Switzerland and Germany so are not reported.  I have an automatic payment plan set up so I do not have any late payments but did not realize that utilization is a key factor and also too few accounts and no account mix and worst of all only from BofA.  I guess my goal to reach 800+ on all is a mission impossilbe with only recurrent accounts. Using the two cards constantly it will result in same open balance with turnover of 100% - paid in full but new "debts" accumulated again. So I will need to stop that automatic payment plan and pay off several times a month to keep utilization very low as I do not know the reporting date from BofA. Curious to see the impact on my scores then.

Tested MyFico score estimator and came up with 771 on this site here. After the pre-screened offer for Discover More got declined I paid a 3 bureau report and paid for scores for all 3.  TU 765, EQ772, EX772. After the hard pull from Discover I told myself what the hell. Score has dropped already  to EQ 759 Fico so I might as well try the CapOne Visa which was the next card I wanted to add to my wallet. Here I was definitely expecting a denial if Discover More declined a pre-screened offer. But to my biggest surprise got accepted and CapOne issued  me a Visa Signature with 5K limit.  Very excited as  I always was afraid to apply as so sure I would be declined. So  now I first intend to proof good behaviour for that new card and build a  good history and then target AX Blue Cash reward and at a later stage the Chase Feedom Mastercard or the other way around.

Discover  More pre-approvals will get trashed instantly !  I do not need hard pulls from companies that are then not willing to issue me their cards. And any other pre-approvals too as it still does give you a hard pull and no guarantee to get approved with 7 - 26 years ontime payment history  less than 7% debt to credit ratio and 0% debt to income ratio. I also do not really want to open store cards just to have a better mix. I would like to try to achieve my goal with only the cards that fit my needs and this is cash back. I am fully aware that this is not ideal for the lenders. Pay cash back and do not get interest! 

 

FICO® EQ 784 (as of today) - TU 777 (07/03) * Fako EX 799 (07/02 - CS) * last app 06/01/14 * INQ last 2 yrs TU: 5, EX: 7, EQ: 7


Move the mouse over the cards for detailed view!..................................................................* Bronze Spade Garden Club member *
Contributor
LilyBee
Posts: 84
Registered: ‎01-23-2009

Re: Expanded "FICO High Achievers" (scores of 760 and above) characteristics list

lg83: 

 

You probably realize (or not) that your score is lowered whenever you apply for a new card. 

 

For future reference, if you're ever in the market to purchase a house, shopping around for the best interest rate from mortgage le:catfrustrated:nders will also lower your score.    Ask me how I know.  :smileyhappy::smileyhappy:

 

However, looks like you're on your way to achieve your goal.  Good luck.

--------------------------------------------------------------------------------
Starting Score (1/1/07) - EQ: 813 -- TU: 804 -- EX 825

Current scores (8/13/13) - EQ-801 -- TU-778 -- EX-827

Goal Score (12/31/14): Whatever
Valued Contributor
lg8302ch
Posts: 2,471
Registered: ‎11-13-2012

Re: Expanded "FICO High Achievers" (scores of 760 and above) characteristics list

@LillyBee

Thanks. I learnt that from this forum and that is why I wanted to see how much impact it would have. 1st pull - 4 pts , 2nd -15-20pts  but must have gotten the +20 again for a lower utilization rate this month. Will test this strategy and see how much impact lower reported balances will have. Will make sure it stays below the 7% all the time. Wonder if it has to be watched on each card or can be accumulated on total credit limit for all cards?  Would be easier if only total has to be observed like this I could leave the automatic payment with BofA and simply pay off several times the new CapOne Visa. Any experience on that?  Or is it helpful to max out the card limit once to have this amount reported and pay off immediately and make sure after it is reported never go above 7% utilization by paying off not only once a month. Saw that highest limit (close to max out) is reported and on file even if paid off by closing date at once. That was fully new to me and I think I can improve there.

cheers  :smileyhappy:

FICO® EQ 784 (as of today) - TU 777 (07/03) * Fako EX 799 (07/02 - CS) * last app 06/01/14 * INQ last 2 yrs TU: 5, EX: 7, EQ: 7


Move the mouse over the cards for detailed view!..................................................................* Bronze Spade Garden Club member *
Moderator Emeritus
llecs
Posts: 32,880
Registered: ‎08-04-2007

Re: Expanded "FICO High Achievers" (scores of 760 and above) characteristics list

lg8302ch, there are plenty of folks in here who hit 800 without any loans reporting. Probably the biggest obstacle you'll hit when aiming for 800 is time. Those who have 800+ scores have a very long history and often go a long time without applying for anything. Utilization is also a big component. For max points, many here have paid all their balances to $0 except for one and get the remaining to report a balance of under 9% of the CL. Your CCs will report the balance you had on the statement date.

 

Your recent score purchased aren't FICO scores. As of a few years ago, Experian blocked consumer access to your own FICO score. As a result, you cannot buy all 3 FICOs from the same source without the help of a lender. And you cannot buy your EX FICO from anywhere without help of that lender. There are some banks and CUs that will give it to you though as a benefit or as required by law if you apply and are denied or don't receive the best terms and a FICO is used in that consideration. In other words, maybe your FICO scores are in the 800s now. You can buy a TU and EQ FICO from myFICO.

 

Those new cards will knock you out of contention for an 800 for at least a year or more. If an 800 is still the goal, let the cards age and avoid applying until you hit that goal.

 

Inquiry damage always vary. Most of the folks who see decreases are those who have maybe 0-1 inquiries prior to the app, and have higher FICOs with no recent new accounts reporting. I used to pull my FICO scores the day of and the day after the app just to see the point change. Going from 0 to 1 or 1 to 2 resulted in as much as a 5 pt drop, though most of the time it was less. Early in my credit days I had 30+ inquiries each on EQ and EX and as the inquiries were added, I didn't lose any points. The damaging aspect isn't the inquiry, it's the new accounts reporting. YMMV on your credit of course.

 

 

 

 

Valued Contributor
lg8302ch
Posts: 2,471
Registered: ‎11-13-2012

Re: Expanded "FICO High Achievers" (scores of 760 and above) characteristics list

@ Ilecs

Wonder if Discover will mention the EX Fico in their written denial. Over the phone I only have been told your application has been cancelled. When I asked for the reason of the denial the agent repeated it is cancelled not denied. To me this is the same just a different wording. l  will have to wait for their written answer. Website is still ...processing and 30 days...bla bla 

Regarding the age I thought that I could do simple math and add the age of the 3 accounts 26yrs, 18mts and the "new born baby" from this month and devide by 3? So this does not work like this? The reports I pulled for the first time in 26yrs showed only my last 7 years so I figured it would not be too bad. 

Now I am really curious to see what kind of impact the additional 5K will have vs the loss in years.  If the impact will have a large drop in points then I will let it grow otherwise try for one more card next year and then I am fine with my cards unless a true breaker will come it with cash rewards. AX blue cash rewards would be my preference but needs excellent credit!

Can't wait to see the drop next month.  But cool to know that high scores can be done with revolving accounts as this is what all the free services suggested as negative (no installment accounts and that I should have a better mix)  Somewhere I read that some credit cards do not report the credit line. That would also not be very good I guess. BofA does report for the Platinum cards the CL but I believe not for the Signature. So I will see what CapOne will do. Hope they report in the same way as BofA. 

This forum is quite interesting but some things are not really logical to me. Anyway my life goes on and my goal will remain anyway but I do not depend on it. It is just for good sleeping. I am a 0 balance person and want the benefits from the cards only and APR or balance transfers I do not even read when selecting my choice of cards.

I think I am going to keep the score watch for 3 month to see how it does impact and then go with the free options Quizzle, CS, CK. CK was the first to alert me for the hard pull from CapOne! Also compare to MyFico score simulator. On the other hand SW was fastest to alert me after automatic payment posted.  But using the card it does get me a balance reported again but less than the 7% this time so I got the +20 points again.

How are the chances that Discover will reveal my EX Fico to me for turning me down? 

FICO® EQ 784 (as of today) - TU 777 (07/03) * Fako EX 799 (07/02 - CS) * last app 06/01/14 * INQ last 2 yrs TU: 5, EX: 7, EQ: 7


Move the mouse over the cards for detailed view!..................................................................* Bronze Spade Garden Club member *
Moderator Emeritus
llecs
Posts: 32,880
Registered: ‎08-04-2007

Re: Expanded "FICO High Achievers" (scores of 760 and above) characteristics list


lg8302ch wrote:

@ Ilecs

Wonder if Discover will mention the EX Fico in their written denial. Over the phone I only have been told your application has been cancelled. When I asked for the reason of the denial the agent repeated it is cancelled not denied. To me this is the same just a different wording. l  will have to wait for their written answer. Website is still ...processing and 30 days...bla bla 

Regarding the age I thought that I could do simple math and add the age of the 3 accounts 26yrs, 18mts and the "new born baby" from this month and devide by 3? So this does not work like this? The reports I pulled for the first time in 26yrs showed only my last 7 years so I figured it would not be too bad. 

Now I am really curious to see what kind of impact the additional 5K will have vs the loss in years.  If the impact will have a large drop in points then I will let it grow otherwise try for one more card next year and then I am fine with my cards unless a true breaker will come it with cash rewards. AX blue cash rewards would be my preference but needs excellent credit!

Can't wait to see the drop next month.  But cool to know that high scores can be done with revolving accounts as this is what all the free services suggested as negative (no installment accounts and that I should have a better mix)  Somewhere I read that some credit cards do not report the credit line. That would also not be very good I guess. BofA does report for the Platinum cards the CL but I believe not for the Signature. So I will see what CapOne will do. Hope they report in the same way as BofA. 

This forum is quite interesting but some things are not really logical to me. Anyway my life goes on and my goal will remain anyway but I do not depend on it. It is just for good sleeping. I am a 0 balance person and want the benefits from the cards only and APR or balance transfers I do not even read when selecting my choice of cards.

I think I am going to keep the score watch for 3 month to see how it does impact and then go with the free options Quizzle, CS, CK. CK was the first to alert me for the hard pull from CapOne! Also compare to MyFico score simulator. On the other hand SW was fastest to alert me after automatic payment posted.  But using the card it does get me a balance reported again but less than the 7% this time so I got the +20 points again.

How are the chances that Discover will reveal my EX Fico to me for turning me down? 



If a FICO was used in the process, and EX was pulled, then they'll give it to you.

 

AAoA includes all open and closed OC accounts. So if you have a 26 yr acct and added one last year, then AAoA went from 26 to 13. A year later, you have a 312 month old acct, an 18, and a 1 month old acct. AAoA went from 14 (a year later) to 9 years. I don't know what that will do to your score. I don't think the improvement to your mix (util aside) will keep the score from dropping with the added CapOne. But I do think that if util drops to where it should be, then any score ding will be recoverable within a year.

 

FICO largely ignores the CL. It only factors it in for util. In other words, someone with $1,000 in CLs has an equal chance as someone with $100,000 in CLs. It's how you use those CLs that counts.

 

Ignore FAKO scores and their advice. It often contradicts FICO scoring.

 

CCs report CLs, provided it's a revolving CC and not a NPSL-like CC.

 

 

New Contributor
TCarson
Posts: 68
Registered: ‎05-12-2007

Re: Expanded "FICO High Achievers" (scores of 760 and above) characteristics list

[ Edited ]

As I'm just about to reach the 800 Goal, here are my stats:

 

Past Due Accounts - 0

History - 26 Years

Average Age of Accounts - 6 Years

Negative Accounts - 0

Revolving Account Balances - $3530 

Mortgages - $434000

Installment Loans - $32080

 

Accounts - 23

Active Accounts - 13

Accounts with Balances - 8

Accounts new in the past year - 1

Recent Inquries - 2

Collections - 0

Public Records - 0

 

I just checked my scores here today and they are:

EQ - 797

TU - 775

 

(TU has yet to update on a couple of accounts I paid off last month)

 

This was before I paid off all four of my remaining Credit Cards today, so my Accounts with balances should drop to 4 and my Revolving Balances will go to $0.

I'm thinking this move will push me over the 800 mark for at least EQ.


Starting Score: 724
Current Score: 797 (EQ)
Goal Score: 800


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
FICO Score - The Score that matters
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+