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I'm wondering what are some disqualifying factors of getting in to the 700 club. Sure I know that each case varies, but are there any definitive no-nos that prevent someone from reaching that milestone?
Maybe too many inquiries?
Maybe a BK?
Maybe you're more familiar with one reporting agency over another. I just want to start the conversation about factors one should consider when trying to attain that goal.
My AAOA is just under a year and I have 7 new accounts in that time. My scores are all over 730. My highest is 742. I have no negatives and have anywhere from 7-10 inqs depending on bureau.
The more that i've presssed for bigger limits and got them, the easier and faster it was to cross into 700 territory and stay there.
Utlilization and too many new accounts will knock your score down and keep it there if not careful to obtain cards spread apart by months.
At least this is been my experience so far. As always YMMV
Everyone can get to 700 on any version of FICO given time regardless of what's on their file: all it takes is sufficient positive history and some amount of age on any negative (not much I might add).
FICO 8 appears to be capped around 755ish for anyone with a collection or public record. FICO 04/98 somewhat less, not certain by how much.
FICO 9 breaks that, I'm currently at 789 even with ugly installment utilization there so it may be possible to break 800 on that score even with a tax lien and a couple of old lates.
@Revelate wrote:Everyone can get to 700 on any version of FICO given time regardless of what's on their file: all it takes is sufficient positive history and some amount of age on any negative (not much I might add).
FICO 8 appears to be capped around 755ish for anyone with a collection or public record. FICO 04/98 somewhat less, not certain by how much.
FICO 9 breaks that, I'm currently at 789 even with ugly installment utilization there so it may be possible to break 800 on that score even with a tax lien and a couple of old lates.
+1
Total CL: $321.7k | UTL: 2% | AAoA: 7.0yrs | Baddies: 0 | Other: Lease, Loan, *No Mortgage, All Inq's from Jun '20 Car Shopping |