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Those with an 850 score, please provide DPs!

Senior Contributor

Those with an 850 score, please provide DPs!

I know that it's possible to achieve an 850 FICO 08 score with a less than "perfect" profile due to a top end buffer.  My question for those of you that do have an 850 score, what area(s) of your profile are less than perfect?  For example, you may have more than 0-1 inquiries.  Your AAoA may be less than 7.8-8.0 years, your utilization may not be between 1%-8.99%, you may not have an open installment loan that's almost completely paid off, etc.  There are more examples, as we all know.

 

I'd like to hear which factors can be less than perfect but still enable someone to achieve an 850 score.

Message 1 of 29
28 REPLIES
Valued Contributor

Re: Those with an 850 score, please provide DPs!

Excellent question, BBS.  Looking forward to reading the responses!  

 

 

Year 2012: All Scores in the 520 range, during a foreclosure, CC Settlement and high UTIL. Very ugly days...
Dec 2017: EX8: 736; EQ8: 736; TU8: 747; EQ04: 734 FICO 9 Scores about 50 points higher
In My Wallet: Discover $63.7K; Cap1 Venture $36.7K; Amex ED $38K; Amex Optima $12.5K; Amex Delta Gold $15K; Cap1 Plat $8.4K; Barclay $7K; Citi TY Pref $13K; US Bank $4K; Dell $5K; Care Credit $6.5K. Total Revolving CL: $209.8K
My UTIL: Less than 1% - Only allow about $10 a month to report, on one account. .
Message 2 of 29
Senior Contributor

Re: Those with an 850 score, please provide DPs!


EW800 wrote:

Excellent question, BBS.  Looking forward to reading the responses!  

 

 


Me too.  Surprised no one has chimed in yet.

 

TT, I know you said when you reached 850 you had an installment loan (mortgage) at 50%-60% utilization.  Do you recall your other profile data points at the time?  I think you may have mentioned these in another thread recently, but it would be cool to see them here as well.

Message 3 of 29
Super Contributor

Re: Those with an 850 score, please provide DPs!

One point short TU which came via a score alert that my autoloan balance went down by 2 payments.  Gained 19 points from that?  The other score alert was for a retail account being removed from my CR.  LOL you still docked me 1 point.  Can't imagine what that might be for and probably don't want to know.

12/08/2017 FICO: EQ 843 TU 849 EX 844
Message 4 of 29
Senior Contributor

Re: Those with an 850 score, please provide DPs!

If it was your 2 auto loan payments that caused your score to go up 19 points, the only thing I can think of is that you crossed to under 9% utilization on the auto loan and that this is your only open installment loan.  Is that the case?

Message 5 of 29
Super Contributor

Re: Those with an 850 score, please provide DPs!

I only have the auto loan as an installment load and current util is %56. Very strange but I'm not complaining.  I will see what EQ and EX does if I get alerts on them.

12/08/2017 FICO: EQ 843 TU 849 EX 844
Message 6 of 29
Senior Contributor

Re: Those with an 850 score, please provide DPs!

No doubt the alert came from paying down your balance, but I'm 100% sure your score increase wasn't for the same reason.

 

Perhaps your AAoA is greatest on TU and it crossed a threshold?  Where does your aggregate revolving utilization currently sit and is it the same across all 3B?

Message 7 of 29
Valued Contributor

Re: Those with an 850 score, please provide DPs!

Most important factor for 850s to me is "age of oldest account" as this is likely the basis for the scorecard/bucket tiering, not AAoA.

 

I'd love all of these data points since this is what FICO itself seems to look at closely:

 

  1. Age of oldest installment loan (open or closed)
  2. Age of oldest credit card (open or closed, not AU)
  3. Are any consumer finance accounts present?
  4. Aggregate utilization on credit cards
  5. Any high utilization credit cards (68.9%+?)
  6. Age of the newest account reporting in months
  7. Number of inquiries under 12 months of age
  8. Average age of all accounts
  9. Credit Mix: Number of open credit cards, number of open installment loans (and type)
FICO8FICO8Visit my posts:
03/1712/17My 11 Rules to Credit RebuildingFree FICO Scores!
550EX
570TU
559EQ
710EX
701TU
734EQ
FICO alert: why did my credit score drop???
Message 8 of 29
Senior Contributor

Re: Those with an 850 score, please provide DPs!

ABCD, I'm curious in points 1 and 2 on your list above why you differentiate between AoOA with respect to acccount type (revolver or installment loan).  Do you believe the account type matters with respect to AoOA and FICO scoring?  I never thought it did, or ever considered that, so if you felt differently I was curious to hear your thoughts and why.

Message 9 of 29
Valued Contributor

Re: Those with an 850 score, please provide DPs!


BrutalBodyShots wrote:

ABCD, I'm curious in points 1 and 2 on your list above why you differentiate between AoOA with respect to acccount type (revolver or installment loan).  Do you believe the account type matters with respect to AoOA and FICO scoring?  I never thought it did, or ever considered that, so if you felt differently I was curious to hear your thoughts and why.


Initially it was just based on trying to understand some differences between people with relatively identical profiles (married couples) but some differences in score because the couples had MINOR differences in age of oldest accounts but seriously different scores (20-30 points difference).  The only thing that differed was one oldest account but between a few couples it was an old (open) loan or an old (open) credit card that appeared on one but not the other's profile.

 

Then I did more digging and some of the FICO patents (or white papers referencing patents) do mention that there appears to be a difference in age of oldest installment loan and age of oldest credit card but it was a minimal difference.  Unfortunately FICO locked a few white papers behind their subscription firewall and I never saved them (just bookmarked) so I can't even recall exactly what they said but I keep looking for public copies.  I want to say that it was 15 years for CC and 20 years for installment loan but I can't prove it.

 

The scorecard issue appears to have a significant portion of the "Length of Credit" FICO points category -- more so than even AAoA.  Maybe 2x as many points for age of oldest than AAoA offers.  My strongest data points comes from a friend of mine who had literally 1 ancient credit card and 1 mortgage open for the past 20 years and then went on an app spree after his divorce and his AAoA plummeted majorly but he didn't lose much from his score overall.  His AAoA dropped from 22ish years (2 accounts) down to under 2 years (23 accounts!) and even after inquiries and new account penalty were gone this summer, he never recovered all his FICO points but didn't lose that many to begin with.  But that's ONE profile, so it isn't helpful enough, just interesting to see.  He wasn't at 850 though.  Might get there in a year or two.

FICO8FICO8Visit my posts:
03/1712/17My 11 Rules to Credit RebuildingFree FICO Scores!
550EX
570TU
559EQ
710EX
701TU
734EQ
FICO alert: why did my credit score drop???
Message 10 of 29