topic Re: How to get to 800s in Understanding FICO® Scoring

How to get to 800s

greent — Sun, 03 Jul 2016 23:18:29 GMT

Has anyone gone from 500s to 800s. Currently TU 680. EX 667. 3 collections (became unemployed and wasn't able to pay). I' m currently trying to find out who I owe to to pay them off. My most recent late was in 2014. So it falls off in 2021. Do I have to wait till then to see my scores go to 800s. Current CL 22k, UTIL 5%. Any feedback is welcomed.

Re: How to get to 800s

Creditplz — Sun, 03 Jul 2016 23:22:50 GMT

I went from 470 to 740 EX, would be higher but my AAoA is 8 months, it plays a big role !

Re: How to get to 800s

Anonymous — Sun, 03 Jul 2016 23:31:25 GMT

Youu can get to 800 but it's going to be time and energy.....really with the lates reporting it may not be the whole 7 years to rebound from those, as time passes the effect is less, it will still show deragotory but not so much drawing on your scores. Try to work for PFD on those collections, I would start with the original creditors. Just make sure you get the agreement first and pay with money orders lol. Also with your starting over, rebuilding essentially work at having 1 card reporting a balance and try to PIF any other cards each month. Hopefully that'll move you sooner. Good Luck.

Re: How to get to 800s

Anonymous — Sun, 03 Jul 2016 23:58:39 GMT

OP, you will be able to get there but as previously stated it will take some time and energy. For example, back in 2012 I sold my part of a few companies and started a new one. By early 2013 I had ran through my savings as i was not paying myself as much as I had been making. By the end of 2013 I had 11 late payments on my report including 6 on my mortgage and 5 on my car. The medical bills that I had been paying I stoped paying and those went into collections. I ended up doing a loan mod on my house. I believe as of January 2014 my credit scores were roughly low 500's. The items that I made sure that I never missed a payment on where my credit cards and my $1k a month child support. As of today my scores range from 755 to 775. I have added roughly $100k in credit card limits and purchased 2 cars since then and about to buy another one. In addition I am also about to start the process of selling my house and purchasing a new one here in a few months. The only things still listed on my report are the missd payments from 2013 which won't come off for a while.

No matter where it currently is, you can always make it better. All you have to do is put some effort behind it and make a plan. From where I was to where I am only took 24 months.

Re: How to get to 800s

SouthJamaica — Mon, 04 Jul 2016 02:00:42 GMT

@greent wrote:
Has anyone gone from 500s to 800s. Currently TU 680. EX 667. 3 collections (became unemployed and wasn't able to pay). I' m currently trying to find out who I owe to to pay them off. My most recent late was in 2014. So it falls off in 2021. Do I have to wait till then to see my scores go to 800s. Current CL 22k, UTIL 5%. Any feedback is welcomed.

If you get rid of all your negatives it's pretty easy to get to the 800's.

Re: How to get to 800s

RonM21 — Mon, 04 Jul 2016 06:52:36 GMT

Patience will be the key here. Can it be done, absolutely. But it will take time to allow negatives to disappear, as well as growing what you do have, and growing what you get in the future, all while keeping everything reporting positively.

Re: How to get to 800s

Anonymous — Mon, 04 Jul 2016 12:31:47 GMT

I went from a 495 to a 840 , it took me 7 years until all of the negatives fell off however as soon as I started working on getting the negatives removed I had my wife cosign a car with me and then I went on a Ford Motor credit lease for 2 years and she put me on 4 of her CC's. I then got a Wells Fargo card at $1,000.00 ( thats all they would give due to the negatives my first X left me with. From there I bought another car and with my wife for her and within 3 years bought a New Silverado truck in our names. Now during this time I aqcuired an American Express, Wells Fargo Card $7500.00 , a NC State Employees credit union Visa $10k and line of credit with them for 20K. now last year Septemeber the last 2 negatives dropped after 7 years and I now have an 830 across the board with more credit than I need. Hang in there and work hard and be persiisent.

Re: How to get to 800s

Thomas_Thumb — Mon, 04 Jul 2016 13:45:12 GMT

@greent wrote:
Has anyone gone from 500s to 800s. Currently TU 680. EX 667. 3 collections (became unemployed and wasn't able to pay). I' m currently trying to find out who I owe to to pay them off. My most recent late was in 2014. So it falls off in 2021. Do I have to wait till then to see my scores go to 800s. Current CL 22k, UTIL 5%. Any feedback is welcomed.

Jamie123 went from the mid 300s to over 800 on his EX Fico 08 score. His other 2 reports still showed a derog which limited score. See below link to post

http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Scoring-a-perfect-300/m-p/4142829#M96948

You won't get to 800 with collections or tax liens in your file.

Re: How to get to 800s

Anonymous — Mon, 04 Jul 2016 13:55:38 GMT

@RM21 wrote:
Patience will be the key here. Can it be done, absolutely. But it will take time to allow negatives to disappear, as well as growing what you do have, and growing what you get in the future, all while keeping everything reporting positively.