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Posts: 28,095
Registered: ‎04-01-2007
Re: Our Forums' FICO High Achievers: Who has at least one FICO Score of 760 or above?

MidnightVoice wrote:

Scout1965 wrote:
I guess the FICO gods don't want FICO high achievers to seek any new credit.Smiley Sad
New credit once every two years. Assuming a new car loan every 4 years, that is a new CC every 4 years also Smiley Very Happy

I was interested in a phrase that TheNewWorldMan used on another post. He said that the ones who get really killed with new accounts are those with "long thin" histories: in other words, those who have history going way back, but relatively few accounts. So mathematically speaking, when these people get new accounts, there isn't enough "mass" from older existing accounts to minimize the damage to average age. This would mean that the traditional FICO High Achievers, with very few accounts, would definitely get hurt.

DH has only a couple of open TL's, but he has this fascination with signature loans from our credit union, so when (if!) the American Express AU account ever posts, it shouldn't do much damage.

Even without my admittedly high number of new accounts, I did fit the "long thin" category, probably the only area in my life where I do! Smiley Very Happy
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007