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My Credit Journey (snapshot) - Road to 800

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Established Contributor

My Credit Journey (snapshot) - Road to 800

Edit (10/22/2015):
Found an older thread where my stats were:

FICO Score: Equifax 04 - 667 -> 705 after dropping utilization from 31% to 10%

Oldest Account: 2.5 years

AAoA: 1.2 years

Utilization: 10%

 

Found a different thread where my stats were:

FICO Score: Equfiax 04 - 755 (last scorewatch - 10/30/2011)

Oldest Account: 4 years

AAoA: 2 years

EQ Inquiries: 1 for auto loan back in August. ( I believe NFCU pulls EQ for cards )

Highest Individual Utilization: 26%

Overall Utilization: 14% ( due to a few accounts closing for inactivity )


 

 

After reading the FICO High Achievers thread, I wanted to provide a snapshot of what my credit profile looks likes after 6 years.  This is going to be in direct correlation to the "Characteristics of FICO® High Achievers (FICO scores of 760 and above)"

 

Account age:

Oldest Account: 6 years old

Average Age of Accounts: 4 years

Newest Account: 1 Month ago

 

Number of accounts reporting:

Number of accounts currently being paid as agreed: 7 open accounts

  • 1 Mortgage
  • 1 Auto loan
  • 5 Credit Cards

Total number of accounts:  17 in total

  • 1 Closed Mortgage (refinanced)
  • 1 Closed auto loan (refinanced)
  • 2 Closed auto loans (PIF)
  • 2 Closed motorcycle loans (PIF)
  • 4 Closed credit cards (1 is actually open but report always reflects closed no matter what I try)

Utilization:

Revolving: ~1%

Installment Util: 

  • Auto loan ~50%
  • Mortgage ~85%

Inquiries in last 2 years:

Experian: 3  (none within last year)

Equifax: (none within last year)

Transunion: (1 within last year)

 

Misc. Notes:

  • ALL THREE BUREAUS are reporting the exact same information with the exception of inquiries.
  • There are NO NEGATIVES listed whatsoever on my credit report.
  • I do not have any consumer finance accounts reporting at all. 
  • All cards are PIF every month and I generally only let one report a balance.

Experian: unknown (Report frozen; MyFICO won't allow me to pull)

Equifax:  783 FICO (scorewatch, EQ04)

Transunion: 825 FICO (Provided by Discover when applied for new card.  Range provided: 300-850, TU08)

 

 

 I have been following this board for years now and have learned an enormous amount of information regarding credit, reports, example letters, etc.  I have used what I know to help others improve their credit and they greatly appreciated it.  These forums are amazing and I always direct people here when they need help.  All in all, I would just like to say that with responsible credit usage, anyone can become a FICO High Achiever.  My report is only 6 years old and thanks to this forum, I got the scores I have been aiming for!  Not too bad for only being 24 Smiley Wink

Message 1 of 23
22 REPLIES
Moderator

Re: My Credit Journey (snapshot) - Road to 800

Congrats to your success Smiley Happy

"If there's a lack of money in your life, understand that feeling worried, envious, jealous, disappointed, discouraged, doubtful or fearful about money can never bring more money to you, because those feelings come from a lack of gratitude for the money you have."

"Reactions are powerful creators because they contain every element needed to manifest—they're a combination of thought, belief, and feeling in action. Positive reactions create more positive things, and negative reactions create more negative things. If you can respond to negative situations calmly and lightly, instead of with emotional turbulence, what happens next in your life will be so much better."

- Rhonda Byrne
Message 2 of 23
Established Contributor

Re: My Credit Journey (snapshot) - Road to 800

Thought I'd share another well-known occurrence in regards to the number of balances reporting.  Keep in mind that the overall utilization and individual utilization stayed at ~ 1%

 

Throughout the month of December:

1 Balance reporting: 783 FICO Score

2 Balances reporting: 778 FICO Score

3 Balances reporting: 773 FICO Score

4 Balances reporting: 768 FICO Score

 

End of Decemeber:

1 Balance reporting: 783 FICO (back to normal)

0 Balances reporting: 774 FICO

 

FICO can be quite picky, eh!?

Message 3 of 23
Valued Contributor

Re: My Credit Journey (snapshot) - Road to 800

This is an interesting data point, and the 9 point hit for zero balances reporting is the same as I've experienced with similar scores.

 

Message 4 of 23
Established Contributor

Re: My Credit Journey (snapshot) - Road to 800

So I got my Discover FICO score and my scored dropped down from 825 to 800 for the new account + inquiry.
Message 5 of 23
Frequent Contributor

Re: My Credit Journey (snapshot) - Road to 800

Wow, the power of bucketing..... 6 year history, and 4 years AAoA and 825 score..... amazing.

 

I have the same profile as far as open tradelines, thicker file, no inquiries, no baddies, 1% uti with 1 of 6 cards reporting a balance, and more history ( 19 years and 6 year AAoA) but my scores are lower than the OP's..... because people in my bucket with 19 years history have better AAoA's.....probably 8 and up. So I'm scored lower because of that.

 

All just a game....

 

 

Myfico scores.....
EX... 805 (11-10-13)
EQ... 810 (12-02-13)
TU... 810 (12-02-13)
Message 6 of 23
Valued Contributor

Re: My Credit Journey (snapshot) - Road to 800


Kratos-TM wrote:  people in my bucket with 19 years history have better AAoA's.....probably 8 and up. So I'm scored lower because of that. All just a game....

On the upside, I doubt you have been given any less than favorable credit terms because of your score...  

 

AAOA is hard to manage, and doesn't always tell the true story anyway.  For example, a couple of years ago the feds moved servicing of my wife's student loans from Direct Loans to Granite State.  For six months, her report showed her 4 DL loans as closed/paid, and 4 new loans opened.  Now, this is a single, hundred bucks a month payment that is near completion, but they report as 4 separate new accounts so her AAOA took a huge dive.  Does that event make her less creditworthy?  Apparently so.

Then, a few months later, all of a sudden her GS accounts were listed as opened in 2003 and had a duplicate payment history from the DL accounts, but the old DL ones are still there too.  Now she has 8 old accounts with perfect history helping bump up her AAOA.


 

Weird stuff.  

3-26-15: FICO EXP: 828 - EQU:820 - TRAN: 828 - AVG: 825 +275 points from JUN 2008 - MY CREDIT JOURNAL

Message 7 of 23
Established Contributor

Re: My Credit Journey (snapshot) - Road to 800

Kratos,
Maybe it is time to open a new American Express account and boost that AAoA Smiley Happy I got my membership date from 2010 and going to wait a few years (probably) before opening a new one. Hopefully they still back date accounts in the future!
Message 8 of 23
Frequent Contributor

Re: My Credit Journey (snapshot) - Road to 800


JagerBombs89 wrote:
Kratos,
Maybe it is time to open a new American Express account and boost that AAoA Smiley Happy I got my membership date from 2010 and going to wait a few years (probably) before opening a new one. Hopefully they still back date accounts in the future!

 

I thought of that trick, but unfortunately my AMEX card is younger than my AAoA. Man, do I wish I opened that AMEX offer I had back in high school!

Myfico scores.....
EX... 805 (11-10-13)
EQ... 810 (12-02-13)
TU... 810 (12-02-13)
Message 9 of 23
Established Contributor

Re: My Credit Journey (snapshot) - Road to 800

Update as of January 5th:

 

My Discover statement cut with a card utilization of 6% and an overall utilization of ~1%, which has allowed 1 balance to report on my revolving tradelines.

 

FICO Score went from 774 to 786!

Message 10 of 23