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How to get to an 800?

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Anonymous
Not applicable

How to get to an 800?

So I want an 800 just because. And because I might buy a house next year.
My AAOA is 1.7 years due to recent apps. Oldest account is 4 years. This however was essential to broaden my file. It had to be done. (Adding CCs)

I have 22 accounts reporting which CK shows as excellent. 11 of these are student loans which I start payment on in 2 months.

Barclay shows my fico as 753 updated 2 days ago.

I have 7 CCs all 0-4% utilization. Most all new.

I have a car loan as well. Zero babies. No lates. Everything is good.

Is it possible to have an 800+ at 22 years old or no?

I have lots of inquires. Only 6 that are within 12 months. All very recent. As those age it should help correct?

Ideas? Lol thanks!
Message 1 of 13
12 REPLIES 12
syeb
Regular Contributor

Re: How to get to an 800?


@Anonymous wrote:
So I want an 800 just because. And because I might buy a house next year.
My AAOA is 1.7 years due to recent apps. Oldest account is 4 years. This however was essential to broaden my file. It had to be done. (Adding CCs)

I have 22 accounts reporting which CK shows as excellent. 11 of these are student loans which I start payment on in 2 months.

Barclay shows my fico as 753 updated 2 days ago.

I have 7 CCs all 0-4% utilization. Most all new.

I have a car loan as well. Zero babies. No lates. Everything is good.

Is it possible to have an 800+ at 22 years old or no?

I have lots of inquires. Only 6 that are within 12 months. All very recent. As those age it should help correct?

Ideas? Lol thanks!

Great goal but I think it will be a while before you get to 800 with the low AAOA and inquiries. But keep paying on time, take it easy on the new apps and you should get there. And by the way I don't think children are counted in credit scoring, even babies.Smiley Happy

Message 2 of 13
Anonymous
Not applicable

Re: How to get to an 800?

When the inqueries fall off they will help a little but probably not more than 15 points. Youre doing everything right just need to keep it up and let the accounts get some age on them. As far as getting a house next year theres not really any difference in a 750 fico or 800 you should still quallify for the best rates.

Message 3 of 13
EW800
Valued Contributor

Re: How to get to an 800?

I just pulled all my credit reports in a big hurry to make sure there are no babies that I was not aware of!  Smiley Happy

 

 

 

Year 2012: All Scores in the 520 range, during a foreclosure, CC Settlement and high UTIL. Very ugly days...
April 2024: EX8: 840; EQ8: 832; TU8: 842 -- Middle Mortgage Score: 822
In My Wallet: Discover $73.7K; Cap1 Venture $51.7K; Amex ED $38K; Amex Optima $2.5K; Amex Delta Gold $18K; Citi Costco $24.5K; Cap1 Plat $8.4K; Barclay $7K; Chase Amazon $6K; BoA Plat $21.6K; Citi TY Pref $22K; US Bank $4K; Dell $5K; Care Credit $6.5K. Total Revolving CL: $300K+
My UTIL: Less than 1% - Only allow about $20 a month to report, on one account. .
Message 4 of 13
jamie123
Valued Contributor

Re: How to get to an 800?

You have all the neccasary credit types to get all the way to 850.

 

You just need to make all your payments on time for the next couple of years and you will easily hit 800. The earliest you can expect to reach 800 is when your AAoA hits 3 years but more probably 4 years. You need to have 0 inquiries and your youngest account needs to be 2 years old.


Starting Score: EQ 653 6/21/12
Current Score: EQ 817 3/10/20 - EX 820 3/13/20 - TU 825 3/03/20
Message 5 of 13
syeb
Regular Contributor

A few more points. You will need the mortgage to broaden...

A few more points.

You will need the mortgage to broaden the TL types for the 800 target. The car loan is great but a car loan + mortgage is super.

11 student loans would make me nervous if I were a mortgage underwriter. Is there a possibility of consolidating them?

The least of your worries should be current utilization. There is zero util memory so unless you are actively seeking credit, use the cards all you want - just stay in budget of course. And a couple of months before you plan on applying for a mortgage is when you need to cut it back. Just give it a couple of billing cycles to make sure everyone reported accurately.
Message 6 of 13
JagerBombs89
Established Contributor

Re: How to get to an 800?


@Anonymous wrote:
So I want an 800 just because. And because I might buy a house next year.
My AAOA is 1.7 years due to recent apps. Oldest account is 4 years. This however was essential to broaden my file. It had to be done. (Adding CCs)

I have 22 accounts reporting which CK shows as excellent. 11 of these are student loans which I start payment on in 2 months.

Barclay shows my fico as 753 updated 2 days ago.

I have 7 CCs all 0-4% utilization. Most all new.

I have a car loan as well. Zero babies. No lates. Everything is good.

Is it possible to have an 800+ at 22 years old or no?

I have lots of inquires. Only 6 that are within 12 months. All very recent. As those age it should help correct?

Ideas? Lol thanks!

Check out my signature.  I was at 820 when I was 24.

Message 7 of 13
Anonymous
Not applicable

Re: A few more points. You will need the mortgage to broaden...


@syeb wrote:
A few more points.

You will need the mortgage to broaden the TL types for the 800 target. The car loan is great but a car loan + mortgage is super.

11 student loans would make me nervous if I were a mortgage underwriter. Is there a possibility of consolidating them?

The least of your worries should be current utilization. There is zero util memory so unless you are actively seeking credit, use the cards all you want - just stay in budget of course. And a couple of months before you plan on applying for a mortgage is when you need to cut it back. Just give it a couple of billing cycles to make sure everyone reported accurately.

I don't have a mortgage or a car loan, and my TU score is currently 805.

Message 8 of 13
Anonymous
Not applicable

Re: How to get to an 800?

I have 3 inquiries and a new cc that has only been reporting for 1 month and I have an 814 exp and both other are over 800...my overall aaoa is about 8 yrs though. There are no specific rules to get to 800 just stay away from babies get the cards you think will last you for years and just let it ride. You'll get there eventually and as long as you stay above 750-760 it won't matter for mortgage.
Message 9 of 13
Anonymous
Not applicable

Re: How to get to an 800?

I also don't have a car loan or mortgage fyi...
Message 10 of 13
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