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The Perfect Credit Score is 760 (and up)

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Senior Contributor

Re: The Perfect Credit Score is 760 (and up)

@longtimelurker Impressive! Do you mind giving us your other data points at that point in time?










(Forgive typos, mobile.)(Everything said is Just IMHO.)
Scores updated DEC'19.

In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? (clean/dirty), Number of accounts open and closed on CRs (thick/thin), AoOA? (aged/nonaged), AoYR-Age of Youngest Revolver (new accounts/no new accounts)? Open/closed loan on CR?
For example, mine is clean/thick/aged/new accounts, with open loan on record.
If you don't know where you fall, just list whether you have any baddies, your number of open and closed accounts, AoOA, AoYR and whether you have a loan on record.
For utilization questions, list individual and aggregate utilizations, revolving and installment. please.
Message 21 of 22
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Regular Contributor

Re: The Perfect Credit Score is 760 (and up)

I compleely agree with "all 760's aren't equal".

 

I never had a credit history at all until 2013. I disocvered that I was never going to achieve anything financially if I didn't start building. So in 4 years I reached a (771 FICO avg), mixing 3 credit sources (Visa, MC & Disco) and a couple installment loans to get that credit mix. Took out my first auto loan in 2017 and dropped to about 720 (but I have a sick 3.4% rate on my truck).

 

Then in March 2018, I app'ed for 4 CC's. And I did this for one major reason.....well, two reasons.

1) I needed more credit sources in my mix and I am a huge believer in cashback cards. Yes sir, I would very much like to have the money back that I spent so I can spend it again, thank you.

2) I app'ed for all 4 CC's in a one-day spree (and these were meticulously chosen to spread the INQ's across different bureaus) - In order to keep the AAoA in a cluster.

 

My credit scores dropped to about 668 before they started to recover ( because I did add some balance to these 0%-15 months promos, why not?)

 

Now, after 7 years of credit history, I have a current truck loan, 2 closed installment loans, and 7 revolving CC's (all high % cashback cards, except for my pop-my-cherry CC through my local bank).  My AAoA is 2 yrs 7 mths and my oldest is obviously 7 years.

And some people may go **bleep**, you just killed your AAoA with those 4 cards, but......all of those cards will age together. Think about 4 years from now when my AAoA is about 5 years aross the board, oldest 10.

 

But in August this year (2020) I'll be adding a mortgage loan, so who knows what that will do. But at least I will have a 760+ to apply for the loan. That's all I need for the %rate. Then I will rebuild again.

 

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Message 22 of 22
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