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My score Stuck At 802..How to go higher?

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joltdude
Senior Contributor

Re: My score Stuck At 802..How to go higher?

I will tell you my experience with the Secured Share Loan.. Unfortunately I didnt get it through Alliant.. but it pushed my score that was stagnating in the 720s... into the high 740s and peaking at 750.....  Right now with some usage and balances im at 744 according to Discover.......I don't have nearly as thick of a credit history or AAoA as you... but I think it might bring you close to your goal...For me it seemed to help recover my score a bit from an extra app...  Without it, I think i could have only apped for one card instead of two.... 

 

-J

 

Message 11 of 30
Anonymous
Not applicable

Re: My score Stuck At 802..How to go higher?

I am going to play around with  three  $10 balances and see if ups my score.

I am holding back on the secure loan for now, becasuse want to see what happens with the smaill balances. I will keep you guys and gals updated as it posts to my report.

I use experian credit tracker to check my score every other day or so.

Message 12 of 30
Anonymous
Not applicable

Re: My score Stuck At 802..How to go higher?

I don't know about everyone else...

But..to me

802 has a nice ring to it...

 

Message 13 of 30
Anonymous
Not applicable

Re: My score Stuck At 802..How to go higher?

Eight-Anything has a nice ring to it.

 

Reminder to all that any score above 760/780 or so is just as good as a perfect 850 in terms of benefits of receiving the best interest rates, revolvers, etc.  Once past 760/780 it's really all for "fluff" which fine; having the extra padding is always a good feeling but it's important to know that the extra points aren't buying you anything.

Message 14 of 30
Anonymous
Not applicable

Re: My score Stuck At 802..How to go higher?

You can gain some weight believe it or not by making sure all your personal identification info is spotless and exactly prefect

Meaning that as mentioned the scoring model is a risk based model
Things that are no biggie, in general can keep profiles from getting every drop of each vetted piece of data

Ex: There is a value on
I.D.
Address
Etc

So little crap like a file that contains
James, Jim, Jimmy and Jimbo
Is scored high probability as James Smith but not at a 100% mark perhaps 95%, not alarming but points left on the table

Is it Jr. or Sr. or is it possibly the other guy who really is Jim

Same with addresses... does your profile list ONE perfect address or a few choices

What about socials?
Many times due to our error or an error by the person inputting data, you'll see VARIATIONS

Variations, prevent the model from given the perfect amount of points for every nitpicking area the RISK model combs for, at times simply crap like that can easily add or subtract 10-20 points.

Fico doesn't quite share it, in those terms but by the nature of some folks address or name they'd NEVER qualify as a 850... because that would indicate all is perfect and some addresses would have a hard time meeting the standard, others move to often to vet there exact address to a zero degree of risk.

850 is a bit more than just perfect payments, there are things beyond our give-crap that the risk model may score slightly down but, no big deal for the real world...

Thus us one reason why, the best rate breaks are in the upper 700s and not the 800s

Because in real life, we know Richard and Dick are the same dude but the computer has to see them as possible a different dude😃
Message 15 of 30
Revelate
Moderator Emeritus

Re: My score Stuck At 802..How to go higher?

What evidence is there that addresses are counted at all in the FICO algorithm?

 

I have airstruck numerous broken addresses and names (if you move around, this'll happen, pretty common to be sure) but it made zero difference to my score.  Enough people do that I'd think we'd have more anecdotal data on that?

 

I'd still absolutely recommend nuking them though as those broken addresses will break verification checks potentially if you're unaware of it, and also on the proctological exam named mortgage underwriting you may get to explain every single one... and that's not any fun.  Simple dispute to get them off anyway, but I at least haven't seen anything that suggests it's being used.  

 

Would be happy to be shown otherwise though, just with how broken that data is (lenders report junk all the time, not sure how in this day and age and some bureaus namely EQ make it even worse in my experience) and it's not nearly as well maintained as the tradeline data.  Ergo, it's really doubtful it's used: bad data in = bad data out.




        
Message 16 of 30
Anonymous
Not applicable

Re: My score Stuck At 802..How to go higher?

Not to get into a show me yours vs mine debate but I've attended more than one lecture with Fico gurus and higher up schmuckty types who gone over several of a undisclosed factors other than the Fab 5 they readily speak of...

And, I know everybody says or feels ' no not MY file...I know every nook and cranny... nothing changed or has this or that affect on MY profile '

To which, I say cool... many folks know the calculation s better than what Fico says, so be it.

But according to them
any area where there might be, could be room for said file to be that of another = obviously 'some' risk.

How do I 'prove' there is evidence that a RISK based model weights the RISK of the address of said profile could have some RISK of being incorrect, even to a 5% degree because somebody moved or lives in 301 vs 201
A variation that doesn't exist with addresses without unit numbers, sorry I don't know.

The same way it's almost impossible to explain to a person that applies for 2 new cards and doesn't see a change in their score, so as far as they are concerned possibly HPs and adding new accounts aren't that big a deal...what can you do?

I've seen folks scores overall go up after applying for new credit because whether we want to accept it or not every time we run the score the data calculates at that moment, it isn't like a GPA that sits there waiting for a midterm grade to be updated, it's a constant flow.

There should be no doubt that there are more things vetted within the scoring model than the 5 noted for the general public and the accuracy of
Who
What
Where
Which one exactly is on list,

Which is exactly why I suggested as you mentioned for the OP to vet his report to see if he could gain some ' clean up ' points by simply disputing OFF
as you put it 'junk' info that could cause confusion

Again possible confusion equals possible RISK and any risk even slightly outside the model's margin of error, which is LESS than mine and yours for sure equals Risk and thus prevents more ppl from earning a PERFECT 850 score

No offense you don't list 850s on your profile so, I'm not sure how your broken addresses matter a profile is vetted in conjunction with the entire profile, so if you already don't have max points to go down from 850 how would you know the weight of an Ave. vs a Blvd

Or having a Jr. vs a Sr. or the III in a file, I certainly don't claim to know each point value and when it would move from one month to the next vs possibly a new attempt at credit, so I'm not sure what evidence would suffice other than, the fact that a lot of people with perfect payment histories etc, don't have 850s

Even with low debt ratios etc...there are way less 850s for reasons other than controllable stuff like the Fab 5
Message 17 of 30
Anonymous
Not applicable

Re: My score Stuck At 802..How to go higher?

I love reading all this detail....

Not that I understand it....

I just think that 800+ is cool..

Message 18 of 30
Revelate
Moderator Emeritus

Re: My score Stuck At 802..How to go higher?

I don't want to get into a fight either frankly but some things bear mentioning.

 

A perfect score does not mean you have a perfect profile, it means you maxxed out the scorecard.  Think of it like an exam with extra credit: 110 possible points, but the max score is a 100.  It actually isn't a fantastic testing point as we're able to see much more discrete changes sub 850... but much more concerning is your assertion regarding non-850's: throwing out everyone elses data points is worse than ignorant.

 

End of the day it doesn't matter matter, I fully subscribe to deleting broken addresses since they cause nothing but trouble, but going from there to suggest they have any impact on FICO is a stretch.  A lot of people clean up broken addresses actually and a lot of people track their scores here, you'd think with the amount of information that gets posted here somebody would've seen a difference?  Just doesn't seem statistically likely.

 




        
Message 19 of 30
iv
Valued Contributor

Re: My score Stuck At 802..How to go higher?


@Anonymous wrote:
You can gain some weight believe it or not by making sure all your personal identification info is spotless and exactly prefect

Meaning that as mentioned the scoring model is a risk based model
Things that are no biggie, in general can keep profiles from getting every drop of each vetted piece of data

Ex: There is a value on
I.D.
Address
Etc

So little crap like a file that contains
James, Jim, Jimmy and Jimbo
Is scored high probability as James Smith but not at a 100% mark perhaps 95%, not alarming but points left on the table

Is it Jr. or Sr. or is it possibly the other guy who really is Jim

Same with addresses... does your profile list ONE perfect address or a few choices

What about socials?
Many times due to our error or an error by the person inputting data, you'll see VARIATIONS

Variations, prevent the model from given the perfect amount of points for every nitpicking area the RISK model combs for, at times simply crap like that can easily add or subtract 10-20 points.

Fico doesn't quite share it, in those terms but by the nature of some folks address or name they'd NEVER qualify as a 850... because that would indicate all is perfect and some addresses would have a hard time meeting the standard, others move to often to vet there exact address to a zero degree of risk.

850 is a bit more than just perfect payments, there are things beyond our give-crap that the risk model may score slightly down but, no big deal for the real world...

Thus us one reason why, the best rate breaks are in the upper 700s and not the 800s

Because in real life, we know Richard and Dick are the same dude but the computer has to see them as possible a different dude😃

Once again, this is complete nonsense.

 

FICO scoring does not, in any way, base any scoring factor on your address(es), name(s), or any "possible" variations on those.  Unless a tradeline from someone with a similiar name/address ACTUALLY APPEARS ON THE REPORT, it does not factor in. At all. (And if it does appear on your report, follow the dispute process to remove it. Then it stops factoring in.)  The mere "possiblity" of a confusable name is not a factor.

 

It is absolutely possible to hit 850 on FICO 8 (or, indeed, go "over" and be capped by the model down to 850) with AKAs/alternate names, "Jr/Sr/etc", and alternate addresses (at which live the other half of the "Jr/Sr/etc").  I'm quite sure of this... as I've seen it personally.

 

Your random unsupported assertions that there are hidden, magic scoring factors is not borne out by either offical data from FICO, or from actual demonstrated data from real people.  I'm not sure why you seem to think this... but you are quite incorrect.

EQ8:850 TU8:850 EX8:850
EQ9:847 TU9:847 EX9:839
EQ5:797 TU4:807 EX2:813 - 2021-06-06
Message 20 of 30
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