@BrutalBodyShots wrote:
@NoHardLimits wrote:Yes, I have been able to achieve an 850 on Experian even without an open loan. My last open loan was paid off in 2018, and I had an FICO8 Classic of 850 as recently as 2024.
Good to know, @NoHardLimits. What were your corresponding TU/EQ scores at the time? Also, what did your AWB% / utilization look like when you hit 850? Were you implementing AZEO (optimizing) or was it just with organic reporting? I ask because we know that on clean files EX8 doesn't care about AWB%, so you may not have been penalized there but perhaps were on TU/EQ.
When I last hit FICO8 Classic 850 on EX with no new revolver in 2024, my corresponding TU and EQ scores were both 841. Number of Accounts with Balances was 3 out of 12 (11 revolvers and 1 Amex charge card). Aggregate revolving utilization was 1%, with 4% being the largest individual card utilization. There would have been some micromanaging of AWB and revolving utilization because organic reporting would have resulted in close to 100% AWB and much higher total $ balances.
@BrutalBodyShots wrote:
@Thomas_Thumb wrote:By my estimate, 3 years payments on a 15 year loan still left you with a B/L ratio (installment utilization) above 80% - assuming a 4.5% apr.
I suppose that would just make attaining an 850 all the more impressive if so. It's possible that they paid extra over those 3 years though to chip away a the balance quicker perhaps.
Yes, paid extra principal almost every month during those 3 years.
@Thomas_Thumb wrote:Good to know on the extra payments. That could have dropped your B/L to the 70% range.
Length of payment history is quite important when assessing mortgage risk. Moreso than a large paydown. 3 years of history might be a significant milestone. Did you reach 3 years before the refi?
The original mortgage was over 5 years old when I did the refi (opened 2007, refi'd 2012). I also, concurrently, held another mortgage for an investment property which had been 6 years old when it was also refinanced in 2012. A closed mortgage loan account would have been present as well on my reports with 11 years of payment history before being paid off in 2014.
Our apologies @ElvisCaprice for completely derailing your thread. Starting at @fleetfoot's question in message 20, the whole discussion has been about FICO scoring. I did contribute to the derailment, but I also said, "You're getting into the nuances of FICO scoring so if you want to explore it more in depth, you might consider consulting the "Understanding FICO Scoring" forum or starting a new thread there regarding the impacts." Messages 20-44 are all about FICO scoring. I'm going to suggest to moderators that they split this thread as appropriate. Not only does this much discussion not belong in "Credit Cards" forum, but it may keep someone wanting to read about FICO scoring from seeing the data points and information.
@Aim_High wrote:Our apologies @ElvisCaprice for completely derailing your thread. Starting at @fleetfoot's question in message 20, the whole discussion has been about FICO scoring. I did contribute to the derailment, but I also said, "You're getting into the nuances of FICO scoring so if you want to explore it more in depth, you might consider consulting the "Understanding FICO Scoring" forum or starting a new thread there regarding the impacts." Messages 20-44 are all about FICO scoring. I'm going to suggest to moderators that they split this thread as appropriate. Not only does this much discussion not belong in "Credit Cards" forum, but it may keep someone wanting to read about FICO scoring from seeing the data points and information.
It's okay, we were pretty much exhausted on the original topic to begin with. I find the scoring subject interesting but can understand that it may be better served in it's own thread. No problemo either way.
Citi:
Chase:
Aven:
RH:
