cancel
Showing results for 
Search instead for 
Did you mean: 

How is this credit score possible?

New Contributor

How is this credit score possible?

I used the myFICO simulator and it said my credit score will be at least 713 and at most a 753 with only a 2 year, 3 month credit history. How is that even possible?


Starting Score: None.
Current Scores: EQ: 640 (08/29/2014), TU: 671 (08/25/2014), EX: 643 (08/25/2014), Barclays TU: 671 (08/08/2014), Discover TU: 646 (08/04/2014), Walmart TU: 671 (08/25/2014)
Goal Scores: EQ: 695, TU: 721, EX: 693


Take the myFICO Fitness Challenge
6 REPLIES
Valued Contributor

Re: How is this credit score possible?

The simulator's only a guide, but why would that be impossible? On-time payments and utilization are more important in scoring than age or mix of credit, so after a couple years of perfect payment history plus low present utilization, it's perfectly feasible to have a score in the mid 700s.

 

New Contributor

Re: How is this credit score possible?

Now that you say that, it does make sense.


Starting Score: None.
Current Scores: EQ: 640 (08/29/2014), TU: 671 (08/25/2014), EX: 643 (08/25/2014), Barclays TU: 671 (08/08/2014), Discover TU: 646 (08/04/2014), Walmart TU: 671 (08/25/2014)
Goal Scores: EQ: 695, TU: 721, EX: 693


Take the myFICO Fitness Challenge
Established Contributor

Re: How is this credit score possible?


cbarret2 wrote:

I used the myFICO simulator and it said my credit score will be at least 713 and at most a 753 with only a 2 year, 3 month credit history. How is that even possible?


Very possible. If you have good pmt history & low util, etc, it makes sense. Good work!

My Wallet:Fidelity Amex $1K, DCU $3.9K, US Bank AeroMexico $300, Quicksilver $1.3K, Cap1 secured MC $750, DiscoverIT $200, Care Credit $5K, Sportsman Guide Visa $3K, Kay $3K, Jared $3K,American Airlines CC $3K, Amazon $2.9k, Walmart $2.2k, Macy's $800 revolving/$5k furniture, Comenity retail cards $5.55kStarting Score: 618Current Score: 711
Frequent Contributor

Re: How is this credit score possible?

+1

Amex PRG(NPSL), Amex BCE($5K), Amex Hilton($1K), NavCheck ($15K), NFCU CR Siggy($20K), USAA Amex($7K), USAA World MC($7K), CSP($2.3K), Chase Marriott($1.8K), Care Credit($2.5K), Cap1 QS($3.5K), VS($500), Cap1 Secure($200) Starting Scores(Jan 2013): FICO EQ: 643, TU: 552, EX: 567 Current Scores(Sept. 2016): FICO EQ: 672, TU: 703(?), EX: 682 In the Garden FOR-EV-ER!!!!! Cards and goals achieved! Let's grow and mature these babies!!!
Valued Contributor

Re: How is this credit score possible?

Very possible, DW has only had her SSN for 6 months and according to Barclays she's @ 771 as of today. 


   3/12 $3500     6/12 $1200      10/12 $1500   12/12 $3400    6/13 $12000      7/13 $5000      7/13 $2500       8/13 $2000    8/13 $6000

  | CSP (AU) $12,000 | Amex PRG (AU) | United $6,000 | OCCU $12,000 | Ink Bold | GM $3,200 | DCU $7500 | Luthansa $9000 | SPG $6,000 | Citi AA Executive $11,000 | Ink Plus $5,000                                                                         | EX 2/7 697 | EQ 10/27 721 | TU 12/15 719 |

Valued Contributor

Re: How is this credit score possible?

According to the simulators if I pay down my debt over 24 months I will have a score of between 835 and 850 so I hope it's accurate!