Understanding FICO® Scoring

[KingAdrock]

My EQ is 766. TU PFICO is 786.

I'll know EX and TU FICO in a week or two, when I buy all 3.

[psychic]

Thank you everyone for your responses!!!  You've all worked so hard to achieve your scores, and should feel very proud of yourselves.

Who else has at least one FICO score of 760 or above?  Let's hear from some more of our Forums' FICO High Achievers!!!

[watchnerd]

Can I check back in 6 months?

[psychic]

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watchnerd wrote:
Can I check back in 6 months?

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You might be back even sooner!

[masdeocho]

I think one thing people lose track of is that it takes a lot of time to get a high score.

According to the FICO data, a High Achiever opened his/her first revolving account 19 years ago (and that's the average).  Twenty years is a loooooooong time to build a credit history.

And you have to pay consistently on time.  According to the same data, virtually none of the High Achievers have a 60 day late, and the very few of them with a single 30 day late got it at least 4 years ago.  That means that the vast majority of them have never paid late.  Ever.

The problem is that people are impatient.  Seems a lot of people file BK and then wonder why they can't get a good mortgage 6 months later.  A mortgage is usually a 30-year commitment.  The bank needs to be comfortable that you're going to hold up your end of the bargain for that long.

[ByrdMan]

Psychic, I have recently fallen from the ranks as a FICO high achiever, due to not understanding how HSBC reports (my fault). So, my EQ went from 768 to 740 to 719 in 8 days (thanks for updating twice in one month EQ). I should join the ranks again (if EQ updates in Apr) as my reported uti was 5%.

[psychic]

At least you know how to remedy the situation, and know that your score will recover!

[mom478]

HI ! AM NEW TO THIS ALL..BUT WENT EXPERIAN FOR FREE REPORT...JUST PAID THE ADDITIONAL FEE FOR THE SCORE..IT IS NOT LIKE THE OLD SCORE, THIS ONE IS CALLED VANTAGE SCORE..IT GOES FROM 501-990. NUMBERS SEEM VERY ODD..BUT ANY WAY, THEY SAID MY SCORE IS 884 (?) IT SAYS I AM PRIME PLUS (?) BUT NOT SUPER PRIME. I THINK THAT SUPER PRIME IS "RARE"...lol.  IS THIS THE NEW SCORES..VANTAGE? THANKS.

[ByrdMan]

Hi Mom478, welcome to the forum. Please read credit scoring 101 in the stickied threads. The scores that you have received from EX are FAKO scores. FICO scores range from 300-850 (EQ & EX) and from 336-843 (TU). You can get FICO scores from myfico.com and from transunioncs.com (notice the cs). Any other scores that you obtain on your own from any other website are what are affectionately known here as FAKOs.

[Scout65]

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psychic wrote:

Who else has at least one FICO score of 760 or above?  Let's hear from some more of our Forums' FICO High Achievers!!!

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psychic,

My current scores as of 4/2/08 are:

TU  788

EQ  787

EX  782

Sure home my new Home Depot card doesn't make these tank...

Sorry, I cannot type today.

Message Edited by Scout1965 on 04-03-2008 06:23 PM

Message Edited by Scout1965 on 04-03-2008 06:23 PM