Moderator Emeritus
Posts: 2,050
Registered: ‎04-17-2007
Re: Our Forums' FICO High Achievers: Who has at least one FICO Score of 760 or above?
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.
Bartender, bring another round of FICOtinis please!

9.4.2011: TU 805. EQ 815.