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HiLine's quest to 800 FICO

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HiLine
Blogger

Re: HiLine's quest to 800 FICO


@Anonymous-own-fico wrote:

@HiLine wrote:
 

I plan to cancel my Score Watch subscription at the end of my challenge; the final meaningful benefit of this service, discounts on Score Power reports, has been eliminated.


 

I still subscribe to myFICO's old EQ SW. A new report from each of the three agencies is listed at a 30% discount!

 


Correct. But the Equifax score report is not a Score Power report which would come with a FICO 04 score.

Message 11 of 87
HiLine
Blogger

Re: HiLine's quest to 800 FICO

My score is now 768, thanks to the card that used to report more than 30% utilization dropping below 30%. This is the highest score I have ever achieved with Score Watch under Equifax FICO 08. My highest Equifax FICO 04 ever was 735, which implies that my Equifax FICO 08 was about 785 back then. I know that I can go back to at least 785, and hopefully the extra AAoA and credit history length will push me into the 800's range.

Message 12 of 87
HiLine
Blogger

Re: HiLine's quest to 800 FICO

My score took a dive today because of a high balance reported. My Chase card utilization stands at almost 70%. The limit on this card is one of the lowest I have, and I am hoping to gain an automatic credit limit increase from Chase by letting a high balance reported. Will bring it down next statement cycle, possibly all the way to 0. This is an easily retrievable 15 points, so I am not concerned. My score as of today is 753.

Message 13 of 87
Kenny
Moderator Emeritus

Re: HiLine's quest to 800 FICO


@HiLine wrote:

My score took a dive today because of a high balance reported. My Chase card utilization stands at almost 70%. The limit on this card is one of the lowest I have, and I am hoping to gain an automatic credit limit increase from Chase by letting a high balance reported. Will bring it down next statement cycle, possibly all the way to 0. This is an easily retrievable 15 points, so I am not concerned. My score as of today is 753.


You can pay it down before the cycle closes and chase will report a 0 balance to the bureaus. Just a good nugget of info to have regarding Chase and their reporting policies.

Message 14 of 87
Anonymous
Not applicable

Re: HiLine's quest to 800 FICO

HiLine, I admire your persistance.  I currently report a fico of 826 with equifax.  My formula is as follows:  I have a mortgage(do not pay PMI), I have two brand new cars that I lease (both of them are worth about 65K and 70K respectively), I have only two active credit cards, a discover and an amex blue.  Amex gets paid off in full every month and my discover has had a balance transfer done on it for about 11K about a year ago.  That balance is now down to $1900.  I am married and my wife's credit history is relatively short but when we run her fico, it returns a 787.  I'm not too sure what exactly got me in to the 820's, but clearly something is working well for me :-D

Message 15 of 87
Anonymous
Not applicable

Re: HiLine's quest to 800 FICO

Hiline did you know that when you click your blog link it sends it to something that is not your blog?

Message 16 of 87
HiLine
Blogger

Re: HiLine's quest to 800 FICO


@Anonymous wrote:

Hiline did you know that when you click your blog link it sends it to something that is not your blog?


That's strange. When I click on the link, I always get directed to my blog...

 


@Kenny wrote:

@HiLine wrote:

My score took a dive today because of a high balance reported. My Chase card utilization stands at almost 70%. The limit on this card is one of the lowest I have, and I am hoping to gain an automatic credit limit increase from Chase by letting a high balance reported. Will bring it down next statement cycle, possibly all the way to 0. This is an easily retrievable 15 points, so I am not concerned. My score as of today is 753.


You can pay it down before the cycle closes and chase will report a 0 balance to the bureaus. Just a good nugget of info to have regarding Chase and their reporting policies.


 

Right. If I want a $0 balance reported, I will even pre-pay my purchases.

 


@Anonymous wrote:

HiLine, I admire your persistance.  I currently report a fico of 826 with equifax.  My formula is as follows:  I have a mortgage(do not pay PMI), I have two brand new cars that I lease (both of them are worth about 65K and 70K respectively), I have only two active credit cards, a discover and an amex blue.  Amex gets paid off in full every month and my discover has had a balance transfer done on it for about 11K about a year ago.  That balance is now down to $1900.  I am married and my wife's credit history is relatively short but when we run her fico, it returns a 787.  I'm not too sure what exactly got me in to the 820's, but clearly something is working well for me :-D


 

Very nice. I think having a mortgage and a long credit history definitely helped your case. 

Message 17 of 87
Anonymous
Not applicable

Re: HiLine's quest to 800 FICO

it goes to hiepsfinance.com I know I am not crazy..lol

Message 18 of 87
HiLine
Blogger

Re: HiLine's quest to 800 FICO


@Anonymous wrote:

it goes to hiepsfinance.com I know I am not crazy..lol


Welcome to my blog! Smiley Wink

 

 

On a related note, Chase today increased the credit limit on the aforementioned card by 4k, making it one of the highest limit cards I have. How the table turns ...

Message 19 of 87
HiLine
Blogger

Re: HiLine's quest to 800 FICO

No Score Watch alert this week. I expect a huge score change in November: I plan to have only 3 out of 13 active cards reporting a balance, with total utilization dropping to just below 10%, and individual utilization being below 50%, 20%, and 10% respectively. Hopefully these positive changes will add at least 20 points to my score, taking it to the mid- or high-770's.

 

I have a bit more than 2 months left to complete the 800 FICO challenge: credit history length will hit 3 years the second week of January, at which point AAoA will be over 2 years. At the same time, I am going to have only 1 card reporting a balance with individual utilization below 40% and overall utilization below 8%, and the balance on my auto loan will be about 75% of the original balance.

 

My current Score Watch annual subscription expires in 2 weeks; I am going to get a monthly subscription just for this challenge.

 

Happy Halloween, everybody! Robot LOL Robot wink

Message 20 of 87
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