Re: Our Forums' FICO High Achievers: Who has at least one FICO Score of 760 or above?[ Edited ]
10-26-2010 03:51 PM - edited 10-26-2010 03:52 PM
Back in May I posted regarding my journey to recover from a 57 point drop in my TU score (768 to 711!) thanks to a likely re-bucket.
I noted then I had finally crossed back into the 760 Zone.
I was still frustrated that the recovery was taking seemingly forever. I also wanted to re-fi my home to eliminate an ARM.
I took a flier that rates would continue to drop and waited to begin the re-fi.
In the meantime I tried the one thing I hadn't done in an effort to further raise my score. I actually used multiple credit cards, putting a couple of hundred on each of three different ones. I then paid them down leaving a hundred or so balance on each one.
End result; I started the re-fi process and waited interminably for Wells Fargo to agree to subordinate a second.
When it came time to actually sign off on the new mortgage I really had no idea what scores the lender saw?
Apparently I timed the useage and pay downs perfectly?
MyFico Quarterly Monitoring shows overall they pulled a total of FOUR reports over the course of the re-fi. Two in July and two more in September.
On the last report dated 9/25 included in the loan package, All 3 CRA's now listed the dreaded 008 code AKA "too many inquiries in the last 12 months" as a scoring factor. (I wonder why?)
Regardless of the inquiry hits, Ex and EQ were 789 and 782. TU was 796!
Sure makes me wonder what those scores would have been without all the inquiries?
Because your FICO® score is exceptionally high, there are no actionable negative factors present with your score.