Highest score w/o installment; only revolving accounts

[Save-n-Invest]

I've never had an installment or auto loan. Scores provided by credit card issuers are Experian 823, Transunion 819, Equifax bankcard score 833 currently.

[Anonymous]

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@Save-n-Invest wrote:

I've never had an installment or auto loan. Scores provided by credit card issuers are Experian 823, Transunion 819, Equifax bankcard score 833 currently.

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Are those all Fico scores?  I'm assuming the EQ BCE is through a Citi account, the EX 823 from perhaps Amex, but not sure about the TU since many CCCs (Chase, Cap One, etc) give a TU VS 3.0 rather than a Fico score.

[SouthJamaica]

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@Anonymous wrote:

Hi, I was just wondering -- for those of you that were never interested in/needed loans or opened installment accounts and only have revolvers (credit cards), what's the highest credit score you've achieved? Is it possible to go 825+ FICO without them? I saw credit mix was 10% of the FICO score, and assuming 5% of 850 for revolvers/5% for installment, I figure it might be impossible? Obviously not how it's calculated, but just led me to wonder what the highest someone has achieved without installment accounts is.

Thanks

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According to @Ubuntu 850 is doable without any open or closed installment loan:

https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Our-Forums-FICO-High-Achievers-Who-has-at-least-one-FICO-Score/m-p/4338873#M101631

[mikesonthemend]

I didn't save the author's name, but he reverse engineered the Fico 8 score and came up with below. If he is correct, and many think he is, 850 cannot be achieved without installment loan on file.

Utilization	Less than 9.0000%
Number of Accounts Reporting Balance	Up to Three [AND] Less than 40% of total accounts.
AAoA	Max bonus at 7 year 8 month
Oldest account(AoOA)	Not a scoring factor. Used as a scorecard assignment segmenter.
Youngest account (AoYA)	Remove score penalty after 12+ months {Exact proprietary: 90% confidence}
Total Number of Accounts	5+ credit cards, 1 installment loan
Latest Open Account	Score penalty if less than 90 days between apps. Complete score penalty removed after 6 months
Inquiries in Last Year	Zero. Score penalty removed after 1 year
Late payments	Zero. Score penalty removed after 2 years (minor) and 7 years (major)

[Anonymous]

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@mikesonthemend wrote:

I didn't save the author's name, but he reverse engineered the Fico 8 score and came up with below. If he is correct, and many think he is, 850 cannot be achieved without installment loan on file.

Utilization	Less than 9.0000%
Number of Accounts Reporting Balance	Up to Three [AND] Less than 40% of total accounts.
AAoA	Max bonus at 7 year 8 month
Oldest account(AoOA)	Not a scoring factor. Used as a scorecard assignment segmenter.
Youngest account (AoYA)	Remove score penalty after 12+ months {Exact proprietary: 90% confidence}
Total Number of Accounts	5+ credit cards, 1 installment loan
Latest Open Account	Score penalty if less than 90 days between apps. Complete score penalty removed after 6 months
Inquiries in Last Year	Zero. Score penalty removed after 1 year
Late payments	Zero. Score penalty removed after 2 years (minor) and 7 years (major)

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Well, based on SJ's reference in the previous post, it sounds like 850 can be had without an installement loan present.  The data in the table pictured above to me doesn't seem like a list of requirements for 850, moreso just a list to maximize 850 potential.  I do believe one or two forum members have achieved 850 with their AoYA landing under 12 months and others have definitely hit 850 with a scoreable inquiry present.

[Save-n-Invest]

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@Anonymous wrote:

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@Save-n-Invest wrote:

I've never had an installment or auto loan. Scores provided by credit card issuers are Experian 823, Transunion 819, Equifax bankcard score 833 currently.

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Are those all Fico scores?  I'm assuming the EQ BCE is through a Citi account, the EX 823 from perhaps Amex, but not sure about the TU since many CCCs (Chase, Cap One, etc) give a TU VS 3.0 rather than a Fico score.

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TU is from Discover

[CJ7]

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@Anonymous wrote:

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  I do believe one or two forum members have achieved 850 with their AoYA landing under 12 months

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I'm surprised, since not long ago I realized that was costing me around 25 points.

During my rebuild, I don't ever recall reading any thread mentioning the

AoYA <12M thing.  Three years later I finally didn't have an account under 12 months old

and had to find this out myself.  Of course it was a good thing!

Anyone with a AoYA of say 10-11 months and looking for a score boost in the near future

(say for a mortgage, auto loan) would be well-advised to chill on the apps for a few months.

[Anonymous]

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@CJ7 wrote:

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I'm surprised, since not long ago I realized that was costing me around 25 points.

During my rebuild, I don't ever recall reading any thread mentioning the

AoYA <12M thing. 

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25 is just about at the top end of it.  Many others see a number in the 15-20 point range.  The Fico 8 algorithm has at least that much buffer built into it, so on an otherwise optimized profile one can still grab an 850 with AoYA < 12 months.  Some people also report gaining points back at 3 months and/or 6 months after an AoYA reset to 0 months, so an 850 for someone with an AoYA of 6-11 months would likely be "easier" to obtain relative to someone with an AoYA of 0-5 months.  I know member TT on here is aware of a couple of threads that he could link for everyone where a member or two has reported an 850 with AoYA under 12 months.  Off the top of my head I don't recall their other optimized stats.