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Understanding FICO® Scoring

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robandmichele
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robandmichele
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Registered: ‎04-03-2008
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Re: Our Forums' FICO High Achievers: Who has at least one FICO Score of 760 or above?
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‎04-03-2008 06:14 PM

i finally got very curious and ordered one from myfico.com tonight. i wonder if i'm gonna get addicted to this game. TU 810
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ChumChurum
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Re: Our Forums' FICO High Achievers: Who has at least one FICO Score of 760 or above?
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‎04-03-2008 10:11 PM

TU, Mar 15, 2008: 788
EQ, April 2, 2008: 806
EX - don't know, but probably close to TU.
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ilovepizza
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Registered: ‎05-17-2007
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Re: Our Forums' FICO High Achievers: Who has at least one FICO Score of 760 or above?
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‎04-03-2008 10:21 PM

760+ all 3 CRAs.
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
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fused
Posts: 16,382
Registered: ‎03-12-2007

Re: Our Forums' FICO High Achievers: Who has at least one FICO Score of 760 or above?
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‎04-04-2008 01:10 PM

Here are a couple of High Achiever credit files. Interesting, it's my credit history length, average-age of accounts and inqs that have set me back quite a bit with EX. With the first two, there's not much I can do.
 
FICO Scores:
 
EQ: 777
EX:  734
TU:  792
 
EQ Report (777):
overall revolving utilization is 9% (< 10%)
credit history length 28.5 years
average-age of accounts is 6 years
0 inqs
no lates and no other derogs
 
14 total trade lines
 
9 open trade lines:
1 unsecured loan 10K/bal 6.8K
1 BoA unsecured LOC 26.5K CL/ bal 5211
Amex Blue 20K/bal 0
Amex Plat
Chase Visa 19.3K/bal 1871
Discover Motiva 10K (suppose to be 50K)/bal 0
FIA Fidelity Visa 25K/bal 2521
First Hawaiian Bank Visa 10K/bal 0
Macy's Gold 2.7K/bal 0
 
5 closed trade lines
1 auto loan paid and closed; never late
1 unsecured loan paid and closed; never late
Amex Gold AU account $0 bal; never late
Amex Gold account (dupe account); never late
CITI Dividends MC $0 bal; never late
 
EX Report (734):
overall revolving utilization is 9% (< 10%)
credit history length is 14.5 years
average-age of accounts < 3 years
3 inqs
no lates and no other derogs
 
13 total trade lines
 
9 open trade lines:
1 unsecured loan 10K/bal 6.8K
1 BoA unsecured LOC 26.5K CL/ bal 5211
Amex Blue 20K/bal 0
Amex Plat
Chase Visa 19.3K/bal 1871
Discover Motiva 10K (suppose to be 50K)/bal 0
FIA Fidelity Visa 25K/bal 2521
First Hawaiian Bank Visa 10K/bal 0
Macy's Gold 2.7K/bal 0
 
4 closed trade lines
1 auto loan paid and closed; never late
1 unsecured loan paid and closed; never late
Amex Gold account (dupe account); never late
CITI Dividends MC $0 bal; never late
 
TU Report (792):
overall revolving utilization is 9% (< 10%)
credit history length 28.5 years
average-age of accounts is 6 years
0 inqs
no lates and no other derogs
 
14 total trade lines
 
9 open trade lines:
1 unsecured loan 10K/bal 6.8K
1 BoA unsecured LOC 26.5K CL/ bal 5211
Amex Blue 20K/bal 0
Amex Plat
Chase Visa 19.3K/bal 1871
Discover Motiva 10K (suppose to be 50K)/bal 0
FIA Fidelity Visa 25K/bal 2134
First Hawaiian Bank Visa 10K/bal 0
Macy's Gold 2.7K/bal 0
 
5 closed trade lines
1 auto loan paid and closed; never late
1 unsecured loan paid and closed; never late
Amex Gold AU account $0 bal; never late
Amex Gold account (dupe account); never late
CITI Dividends MC $0 bal; never late
 
The differences in scores is big and here is why:
 
- EX has a credit history length of 14.5 years comapred to EQ and TU which is 28 years 5 months
  (estimated loss in points is 10-15)
 
- EX average-age of accounts is < 3 years compared to EQ and TU which is 6 years 
  (estimated loss in points is 15+)
 
- EX has 3 inqs compared with EQ and TU which have 0 inqs
  ( estimated loss in points is 15-20)
 
I think these differences account for at least 40-55 points.
 
 
 
Credit Profile:
FICO 9: EQ 835 ~ EX 832 ~ TU 829 (05-13-2017)
FICO 8: EQ 821 ~ EX 810 ~ TU 819 (05-13-2017)
FICO 8 Bankcard: EQ 844 ~ EX 840 ~ TU 845 (05-13-2017)
Credit History: 29 years ~ AAoA: 14 years
Total available revolving credit: 157K ~ Cumulative Util: 4% and dropping fast
Inqs: 1 EX (new)
13 Total Accounts on Reports: 8 open, 5 closed. No open installment accounts (soon to change)
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psychic
Posts: 1,518
Registered: ‎04-20-2007
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Re: Our Forums' FICO High Achievers: Who has at least one FICO Score of 760 or above?

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‎04-06-2008 08:26 PM - edited ‎04-06-2008 08:49 PM

fused--
 
You have wonderful balance in your trade lines and varied card issuers.  When the Discover Motiva card starts reporting as a 50K credit line, you must let us know how it reports (i.e., revolving, installment, etc.) and is considered in utilization calculations. 


Message Edited by psychic on 04-06-2008 08:49 PM
EQ 814 / TU 815 / EX 842
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sh9730
Posts: 151
Registered: ‎01-30-2008
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Re: Our Forums' FICO High Achievers: Who has at least one FICO Score of 760 or above?
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‎04-06-2008 08:45 PM

Just joined this group yesterday....
 
TU - 700
EQ - 720
EX  - 782!! 
 
The difference is that EX dropped off the last baddie on my CR a couple months earlier than the other two will.  Wasnt officially supposed to drop until June.  I posted on this over on FICO SCORING forum also. 
 
With a little luck I might actually crack 800 soon.  Payments that will post this month will click me below the 20% utils mark and my understanding is I ll get a bump from that.
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psychic
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Re: Our Forums' FICO High Achievers: Who has at least one FICO Score of 760 or above?
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‎04-06-2008 08:54 PM

sh9370--
 
Congratulations on becoming a FICO High Achiever!!!
EQ 814 / TU 815 / EX 842
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ChumChurum
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Re: Our Forums' FICO High Achievers: Who has at least one FICO Score of 760 or above?
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‎04-06-2008 09:06 PM


psychic wrote:
fused--
 
You have wonderful balance in your trade lines and varied card issuers.  When the Discover Motiva card starts reporting as a 50K credit line, you must let us know how it reports (i.e., revolving, installment, etc.) and is considered in utilization calculations. 

psychic: I am curious as to why would the Motiva report as "installment".  Is there something special about the 50K level?

 
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ChumChurum
Posts: 46
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Re: Our Forums' FICO High Achievers: Who has at least one FICO Score of 760 or above?
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‎04-06-2008 09:08 PM


fused wrote:
Here are a couple of High Achiever credit files. Interesting, it's my credit history length, average-age of accounts and inqs that have set me back quite a bit with EX. With the first two, there's not much I can do.
 
FICO Scores:
 
EQ: 777
EX:  734
TU:  792

fused: it seems that your credit profile is better than mine in every respect, yet your scores are lower.  I wonder why.
 
Here is my post showing my Equifax file and score:
 
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psychic
Posts: 1,518
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Re: Our Forums' FICO High Achievers: Who has at least one FICO Score of 760 or above?
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‎04-06-2008 09:19 PM


ChumChurum wrote:

psychic wrote:
fused--
 
You have wonderful balance in your trade lines and varied card issuers.  When the Discover Motiva card starts reporting as a 50K credit line, you must let us know how it reports (i.e., revolving, installment, etc.) and is considered in utilization calculations. 

psychic: I am curious as to why would the Motiva report as "installment".  Is there something special about the 50K level?

 

Each CRA is different.  I have a $33,300 revolving CL that is not included my TransUnion (and I suspect) Experian utilization calculations.  However, this CL is included in my Equifax utilization calculations.  We've always been a little "fuzzy" about these cut-off points.  I'm just trying to determine each CRA's behavior when it comes to high credit lines. 
EQ 814 / TU 815 / EX 842
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