topic Re: How to get a perfect 850 credit score in Understanding FICO® Scoring

How to get a perfect 850 credit score

CreditBob — Tue, 16 May 2023 01:51:43 GMT

https://www.youtube.com/watch?v=M53wNlq6sro

Re: How to get a perfect 850 credit score

Horseshoez — Tue, 16 May 2023 10:58:51 GMT

I haven't watched the video at the end of the posted link and probably won't. Why? I've found most advice from YouTube videos, regardless of whether it is about when to change your oil, how to get a green lawn, how to lose weight, or how to improved your credit, is HIGHLY suspect.

Re: How to get a perfect 850 credit score

Kforce — Tue, 16 May 2023 15:53:04 GMT

It is very easy.

This is how in 5 steps, no video required.

1) Always pay on time.

2) Have 3 or more cards on record.

3) Don't keep getting cards you don't really need

4) Keep utilization low.

5) Be patient.

1) Always pay on time.

2) Have as many as you want

3) Keep getting cards you don't really need

4) Keep utilization low.

5) Be patient.

( Have excellent but not 850 scores and a fun hobby )

Re: How to get a perfect 850 credit score

Thomas_Thumb — Tue, 16 May 2023 16:08:08 GMT

An open installment loan makes getting to 850 a whole lot easier than a card only profile.

@Kforce wrote:
It is very easy.
This is how in 5 steps, no video required.

1) Always pay on time.
2) Have 3 or more cards on record.
3) Don't keep getting cards you don't really need
4) Keep utilization low.
5) Be patient.

Re: How to get a perfect 850 credit score

Kforce — Tue, 16 May 2023 16:39:52 GMT

@Thomas_Thumb wrote:
An open installment loan makes getting to 850 a whole lot easier than a card only profile.

Yes I did forget that point.

Have always been a few points from 850's with out credit mix

Should either add one more line item or change target to 845.

Re: How to get a perfect 850 credit score

markbeiser — Tue, 16 May 2023 21:32:08 GMT

Also, never use new car dealer financing, like Ford Motor Credit, or make large purchases using services like Afirm, or you will be stuck with a CFA on your credit prifile, making 850 impossible.

Re: How to get a perfect 850 credit score

fury1995 — Wed, 17 May 2023 00:44:43 GMT

@markbeiser wrote:
Also, never use new car dealer financing, like Ford Motor Credit, or make large purchases using services like Afirm, or you will be stuck with a CFA on your credit prifile, making 850 impossible.

@markbeiser I've had 850's accross all three bureaus reporting for FICO 8, FICO 9 and was very close on FICO 10T with Ford Motor Credit and multiple CFA's reporting. It's possible.. These are from last month:

Re: How to get a perfect 850 credit score

markbeiser — Wed, 17 May 2023 06:12:02 GMT

@fury1995
Interesting, maybe on the top level of clean score cards CFA's stop hurting?
I've got FMC and One Main on my report, as well as Forsyth Capitol for my current car loan, and get negative reason codes for CFAs.

Re: How to get a perfect 850 credit score

FireMedic1 — Wed, 17 May 2023 10:57:10 GMT

@markbeiser wrote:
@fury1995
Interesting, maybe on the top level of clean score cards CFA's stop hurting?
I've got FMC and One Main on my report, as well as Forsyth Capitol for my current car loan, and get negative reason codes for CFAs.

CFA's will still do their ding until they fall off.

Re: How to get a perfect 850 credit score

Thomas_Thumb — Wed, 17 May 2023 13:04:28 GMT

@markbeiser wrote:
@fury1995
Interesting, maybe on the top level of clean score cards CFA's stop hurting?
I've got FMC and One Main on my report, as well as Forsyth Capitol for my current car loan, and get negative reason codes for CFAs.

There are 10-25 points worth of buffer on Classic Fico 8/9. In other words a profile can have some flaws and still reach 850. I estimated this in 2016 by comparing Fico 8/9 industry option scores against Classic Fico 8/9 scores.

My Classic Fico 8 scores were all a solid 850 but the industry option counterparts were mostly under 900 - no buffer if under 900. I increased # cards reporting and/or card utilization. I then observed point drop on industry option scores while Classic scores maintained 850. The maximum amount of score drop on Industry option without Classic score dropping is a rough estimate of Classic 8/9 buffers. The amount of buffer differs some by CRA and model 8 vs 9. From what I've seen, the maximum potential buffer for Classic Fico 8/9 is 25 points.

Now that my profile has weakened considerably (no open loan), I can't test 850 buffer. The slightest infraction drops score from 850 on Classic Fico 8/9 can't even get 850 on TU. Not sure about EQ as I don't see those scores anymore.

Re: How to get a perfect 850 credit score

cem13 — Fri, 19 May 2023 16:41:49 GMT

I have a perfect FICO 09 TU score of 850. FICO 08 TU is 828. I went from BK7 to perfect score in about 13 years. I have almost zero debt and enough to retire at 58. Hell, even ACA will give me free healthcare next year.

Re: How to get a perfect 850 credit score

CorpCrMgr1 — Mon, 15 Apr 2024 00:50:05 GMT

I'm close, but not there yet. Equifax has me at 846, Exp & TU are over 830. One day. BTW, I use YT for a lot of solid device. Fixed my pinball off a video.

Re: How to get a perfect 850 credit score

Gunnerboy — Mon, 15 Apr 2024 01:05:47 GMT

The only time I got the three-fer 850, all accounts reported zero except for the final payoff payment on my auto loan. Guess AZEO actually works..

This was last year, and since then, I haven't even checked my scores again. I don't want to be that OCD.

Re: How to get a perfect 850 credit score

FicoMike0 — Mon, 15 Apr 2024 01:11:05 GMT

@fury1995 that's a pretty impressive array of data! If I may ask, where did you get all that?

Re: How to get a perfect 850 credit score

Thomas_Thumb — Mon, 15 Apr 2024 01:16:34 GMT

@fury1995 wrote:

@markbeiser I've had 850's accross all three bureaus reporting for FICO 8, FICO 9 and was very close on FICO 10T with Ford Motor Credit and multiple CFA's reporting. It's possible.. These are from last month:

@fury1995

Congrats on the Classic 850 F8/F9 six pack. Curious, what were your associated Bankcard and Auto F8/F9 scores? The Industry option 900s are more elusive than Classic 850s

Re: How to get a perfect 850 credit score

AC20 — Mon, 15 Apr 2024 01:23:43 GMT

I have 2 closed AMEX loans that are still on my report and code as CFAs. I used to get this as a reason code a lot (esp for Auto scores) but now that my scores are higher and I don't get reason codes for some scores, CFA does not show up as a reason code anymore. I believe the reason it no longer appears is because my student loans and all my credit cards from that time frame all aged off my report which hit my aging factors. Currently when I get reason codes they are about short credit history issues, opening a new credit line recently (1.5 yrs Installment, 2.5 years cc), or having too many accounts.

All that said, my last 3B report from this site had my FICO 8s at 850 EQ, 846 TU, and 841 EQ. I think that the CFAs likely still have some small impact, but I am pretty sure I would be at or nearly at straight 850s if my student loans still were still helping my aging factors.

Aging as of last 3B - EQ, TU, EX

AAoA - 7yrs 4mos EQ, 6yrs, 5mos TU, 6yrs 8mos EX

AoOA - 16yrs 9mos EQ, 11yrs 11mos TU, 12yrs, 7mos EX

Re: How to get a perfect 850 credit score

FicoMike0 — Mon, 15 Apr 2024 01:28:54 GMT

@Thomas_Thumb you've done some great analysis over the years. Many thanks. I've done some work in the "figures don't lie, but liars can sure figure" business. I understand the difficult. I expect the max score is well above 850, they just "ceiling" it at 850.

Re: How to get a perfect 850 credit score

Barkius — Mon, 15 Apr 2024 02:25:12 GMT

Why would anyone want a perfect FICO score? To brag to your friends who don't give a **bleep**? To post on the internet where no one gives a **bleep**? If you have an 850 that means you're under-applying for credit.

No one cares what your score is.

Re: How to get a perfect 850 credit score

markbeiser — Mon, 15 Apr 2024 02:53:22 GMT

@Barkius wrote:
Why would anyone want a perfect FICO score? To brag to your friends who don't give a **bleep**? To post on the internet where no one gives a **bleep**? If you have an 850 that means you're under-applying for credit.

No one cares what your score is.

You appear to care enough to post!😜

Re: How to get a perfect 850 credit score

Horseshoez — Mon, 15 Apr 2024 04:50:54 GMT

@Barkius wrote:
If you have an 850 that means you're under-applying for credit.

What a genuinely bizarre statement; some of us have all of the credit we need/want/desire, and if 850s is the result, so what?