topic Re: 800 Club! in Credit Cards

800 Club!

android01 — Tue, 10 Apr 2012 13:01:43 GMT

Your Equifax FICO® score:804

On April 10, 2012

I've been hovering in the high 700's forever it seems. Just got this from score watch today! It jumped from 795 to 804 after I let one credit card report a balance (other than my AMEX charge card, which doesn't account for utilization). I'm also thinking I may have had a boost because my mortgage balance went under 50% of the original loan amount, which I've heard (although I don't know for sure) is something that FICO likes to see. I'm hoping TU and EX will follow later this week when PSECU and Walmart report.

Here are the stats I have that may be of interest:

Oldest Account: 26.2 years

Average Age of Accounts: 11 years

Utilization 1%

1 CC account reporting <1%

No lates, collections. public records

Re: 800 Club!

tcbofade — Tue, 10 Apr 2012 13:17:17 GMT

Wow. Yay u!

Re: 800 Club!

Anonymous — Tue, 10 Apr 2012 13:26:21 GMT

Congratulations! I hope to have a similar story one day! P.S. Your stats were helpful. Thanks for sharing.

Re: 800 Club!

webhopper — Tue, 10 Apr 2012 13:46:29 GMT

@android01 wrote:
Your Equifax FICO® score:804
On April 10, 2012

I've been hovering in the high 700's forever it seems. Just got this from score watch today! It jumped from 795 to 804 after I let one credit card report a balance (other than my AMEX charge card, which doesn't account for utilization). I'm also thinking I may have had a boost because my mortgage balance went under 50% of the original loan amount, which I've heard (although I don't know for sure) is something that FICO likes to see. I'm hoping TU and EX will follow later this week when PSECU and Walmart report.

Here are the stats I have that may be of interest:

Oldest Account: 26.2 years
Average Age of Accounts: 11 years
Utilization 1%
1 CC account reporting <1%
No lates, collections. public records

Amazing and inspiring Thanks so much for sharing! Congratulations on your success

Re: 800 Club!

MsLadyRover — Tue, 10 Apr 2012 18:22:07 GMT

CONGRATULATIONS!

Re: 800 Club!

merlin8r — Fri, 22 Jun 2012 22:42:02 GMT

Congratulations as well!

I just received my Amex Gold and they've backdated to 1983. Puts my AAoA from about 7 years to over 11 and hopefully will boost my mid 700 scores a bit.

Hope to join you soon.

Re: 800 Club!

jla84 — Wed, 11 Apr 2012 15:17:16 GMT

Congrats! I can't wait to get to the 800 club!

Re: 800 Club!

Anonymous — Wed, 11 Apr 2012 15:27:00 GMT

Congratulations!!!!! Feels great when you've made it over a desired threshhold, and this is quite a threshhold! What a great score!

Re: 800 Club!

Open123 — Wed, 11 Apr 2012 15:32:23 GMT

Awesome!

Always nice to see someone breaking 800. It really is the line of demarcation from "excellent" to the "best" credit rating.

Re: 800 Club!

android01 — Wed, 11 Apr 2012 16:57:48 GMT

Thanks, guys!

The interesting thing about the move upward seems to have something to do with my mortgage going under 50% of the original amount. That's the only thing that really changed in my reports. So, I did a little reading here and elsewhere, and I've discovered that the 50% mark on mortgages and installment loans seems to be a threshold for FICO scoring in some way. I never knew this before. This would explain a 10 point rise in my score that I can't explain any other way, but I'll take it!

Re: 800 Club!

guydiver — Wed, 11 Apr 2012 17:05:47 GMT

Awesome. Congratulations. That is a true milestone. I know I will not be satisfied until I get to 800....and it will be this year. 800 or BUST!!!

Re: 800 Club!

Anonymous — Wed, 11 Apr 2012 22:40:37 GMT

Wow, that is fabulous. You have done a great job. I always appreciate your comments, too.

Re: 800 Club!

Anonymous — Wed, 11 Apr 2012 23:53:03 GMT

Congrats

Re: 800 Club!

cleanitup — Wed, 11 Apr 2012 23:57:57 GMT

Congrats, that is awesome.

Re: 800 Club!

jdogi — Thu, 12 Apr 2012 00:40:03 GMT

Congrats! My score watch EQ hit 801 a couple weeks ago. I'm a bit surpised, with your stats, I would have expected a higher score. Must be a bucketing difference, or maybe my 800 was just a fluke. ;-) Mine has since dropped back to 794. My oldest is only 16 years old and average just over 5 years. I have two "new" accounts (less that 1 year) and two inquiries reporting. I've never had a mortgage. 14 total accounts reporting only one with a balance, util ~5%. One installment (car) @ 85% of loan amount.

I'm curious, do you know the total number of tradelines that are reporting?

Re: 800 Club!

android01 — Thu, 12 Apr 2012 02:09:49 GMT

@jdogi wrote:
@Congrats! My score watch EQ hit 801 a couple weeks ago. I'm a bit surpised, with your stats, I would have expected a higher score. Must be a bucketing difference, or maybe my 800 was just a fluke. ;-) Mine has since dropped back to 794. My oldest is only 16 years old and average just over 5 years. I have two "new" accounts (less that 1 year) and two inquiries reporting. I've never had a mortgage. 14 total accounts reporting only one with a balance, util ~5%. One installment (car) @ 85% of loan amount.

I'm curious, do you know the total number of tradelines that are reporting?

Like you I have 14 open TL's and 10 which are closed. I don't have any open installment loans but three of the closed ones were from cars I've bought over the last ten years. I do have one inquiry and one new TL in January of 2012 (Walmart for the TU FICO). I've also noticed after experimenting that my "sweet" spot for utilization is 1% for the highest score. I've tried letting 2%, 5% 9% and 10% report, and all lowered my score. 0% utilization LOWERED my score. The AMEX card that I mentioned earlier is reporting a $370 balance which doesn't affect my EQ FICO score at all, and a $40 charge on a Visa that has a 15K limit. So there are two TL's reporting, three if you count my mortgage.

Re: 800 Club!

Anonymous — Thu, 12 Apr 2012 02:14:40 GMT

Congrats!!

Re: 800 Club!

frogfan12 — Thu, 12 Apr 2012 03:35:25 GMT

Congrats! That's a major accomplishment.

Re: 800 Club!

tmbr10 — Sun, 15 Apr 2012 04:05:34 GMT

@ the OP..... do you have a Discover Card? How do they treat memebrs of the 800 club?

Thanks. Fellow 800 club member.

Re: 800 Club!

android01 — Sun, 15 Apr 2012 05:00:17 GMT

@tmbr10 wrote:
@ the OP..... do you have a Discover Card? How do they treat memebrs of the 800 club?

Thanks. Fellow 800 club member.

Yes, I have had Discover Card since 1986, right about the time Discover opened there doors. I have a $15,000 CL that has stayed the same since 1990. I've never asked for a CLI. I'm not sure what you mean by "how do they treat members of the 800 club". Can you be more specific?