Looks like 850 Score is Possible Amazing!

[Anonymous]

Awesome! My score is 802 (FICO 300 to 850) with 12 years of history and six years of average age. Also have 15 bank/department card accounts, one mortgage and one installment loan.

[taxi818]

Yes. High score leads. Just mentioned average. Not which leads to what.  You answered the most important ingredient.  8 years. AA of A.  So no sir. Will not happen in two years.  The higher you are the slower the climb.  The point was 850. Not 800. 

[taxi818]

Wander wrote:‎08-30-2014 03:33 PM

Awesome! My score is 802 (FICO 300 to 850) with 12 years of history and six years of average age. Also have 15 bank/department card accounts, one mortgage and one installment loan.

I wonder do you have any baddies. How long do you think for that other 48 points?

[Anonymous]

taxi818 - the original poster has 26 years and 12 years AAoA. My record is clean and Barclay Bank made the comment in May 2014 that I had a strong credit file. As you know I have about half the years. No baddies and the record is spotless. Now if I had not lost a business in 2001 my record was virtually perfect back to 1972. I need patience and time to increase the years and AoAA before I can get close to the top score. It took about nine years from 2001 to break 700+. Rebuild was slow as was clearing the record of all the negatives. With a clean record I should not complain about where I am at and I don't.

[jello77]

For a long time I've been curious about what it takes to get a perfect score of 850.

There are several posters on this board who have reported obtaining 850 scores.

In addition to tdr who posted above:

In June 2013, a poster named geronimo2008 reported obtaining 850 from Experian, as described in this post:   http://bit.ly/1kNuvnO

In May 2014, a poster named android01 reported obtaining 850 scores from all three credit agencies, as described in this post:   http://bit.ly/1pAon2H

In June 2014, a former moderator of this board named fused received 850 scores from all three credit agencies, as described in this post:  http://bit.ly/1nJhVbd

Another poster who achieved 850 is named iv.

On another thread, he shared his credit report stats that allowed him to achieve the 850 score.

Shown below is a comparison of his credit stats and mine:

_________________iv__________jello

EX-08 FICO_______850_________813

Total accnts_______11___________10

Oldest accnt______17 yrs________36 yrs

Average age______8 yrs_________12 yrs

Inquiries_________0____________0

Utilization_________3%__________3%

Credit cards_______6____________6

Mortgage_________3____________0

Auto_____________2____________0

I have a "clean" report with no negative factors.

The only place where my stats are inferior to his is a lack of mortgage and auto loans.  One factor in the FICO score is "type of accounts," and FICO prefers to see a healthy "mix" of different type of accounts.  The only accounts I have are credit cards.

Here's a link to a youtube video you might find interesting:   http://youtu.be/4sny-172p9Q

In the video, a man who has studied FICO scores for many years says he recently achieved his dream of getting an 850 score. He goes over all the stats from his credit reports to explain how and why he achieved the score.  

Here are some key points from the video:

-- He says the mortgage and auto loans on his credit report are key factors in why he got an 850 score.

-- He says for mortgage and auto loans,  having a current loan balance below 70% of the initial balance is needed to achieve an 850 score.

-- He says that for someone with only credit cards on your report (such as me), it's impossible to get close to 850 no matter how perfect your credit profile otherwise might be.

[taxi818]

Jello77.
+1

Thank you. The question in was debating. Of course 850 is possible. But some here are in lala land thinking it can happen to 2 years. I explained just to get a grade in length of credit. Requires more than 8 years. That's is getting almost all points in list. But great post to show. Other guy who got it in 26 years. Is probably the norm. I'm not sure you can get it in 10 years. Let alone 2. But u do think 800 is possible in 5 years from scratch.

[vanillabean]

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@taxi818 wrote:

Of course 850 is possible. But some here are in lala land thinking it can happen to 2 years.

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Well yes, they are. But if that will make them do the best they can when starting out, fine by me.

My EQ 08 and TU 08 are 850. My EX 08 is 849, likely due to an AAoA of six years (when stripped of AU accounts). That alone should signal that’s not possible to achieve 850 with a two year credit history.

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@jello77 wrote:

-- He says the mortgage and auto loans on his credit report are key factors in why he got an 850 score.

-- He says for mortgage and auto loans,  having a current loan balance below 70% of the initial balance is needed to achieve an 850 score.

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Haha, not so. I have had 850 with just one loan. And DW has had 850 with a mortgage at 80%. A perfect credit score doesn’t necessitate a perfect credit report, underlining that 850 isn’t where it stops.

[taxi818]

@wanderer. You are doing great for sure. I was pointing out to other guy. Who said he net 850 could be done I. 2 years from scratch. I showed him. Your average. Not happening. But it's good to know people are getting into the 800s in 6-7 years.