how do i get to 800?

[cakebuilder]

how do i get to 800? my current fako is 767.

credit lines, 6 open:

-credit cards, 2, UTIL is zero% I PIF always:

citi, 4-yrs-old (CLI about $8k)

amex, 8-yrs-old (CLI about $11k) about to apply for 3x CLI but to get to $25k

-car: 2-yr-old loan

-student loans, 3, 8-yr-old loans: about $40k total

credit lines, 14 closed:

random assortment (approx average 7.5-yr age)

1 baddie:

co-signed for my mom, she was late 32 days ONCE. 3-yrs ago. this has been paid in full. 

inqueries:

5 total, but 3 will wipe off in 12 days

 I will appreciate any advice

[Josh2942]

You will get an 800 with a lot more time. Your AAoA credit would probably be close to 10 years. You will have no student loan debt. Your utilization will always be under 10%. You have cards with limits over $10k and you will have a mortgage that is probably midway though with no baddies and no INQs. My grandma has an 825 FICO's almost across the board and that's her credit portfolio.

[cakebuilder]

that is a great point. 

but i ask only to be more productive? 

i was thinking of acquiring more credit through my current credit cards, adding an additional amex and backdating is also in the plans. and then staying put. agreed? 

[user5387]

1.  Avoid derogatories.

2.  Keep utilization very low (less than 10% on one card).

3.  Only apply for credit you really want and need.  Don't get lots of cards simply because you can, or to eke out the last bit of rewards.

4.  Don't worry about the "mix of credit types" angle unless it's a natural fit to get an installment loan or mortgage.

5.  Get a CU card for financing and emergency purposes (low APRs, no fees, BTs, etc.).

[lg8302ch]

It can be done with AAoA of 4yrs, quite many new accounts and inq, but perfect payment history and no badies. All I have is revolving accounts on my CR, no installment loan, no mortgage, no car loan, no student loans, etc....just the cards in my signature and I crossed the 800 border to 802 with optimal number of accounts reporting. Right now I am testing how far I drop with reporting balances on my accounts, overall util is 4% and this was pretty much the same as with 802 but only 1 account reporting a balance the rest to 0. In May I will see if I can make it back up and cross the 800 line just by optimal reporting...LOL.. I am curious myself to see if Fico has really no memory

[B335is]

TU was the only CR I ever hit 800+ with. I had no negs, fewer than 3 inq, util 1%, AAoA 3yrs, 2 yrs into a 3 yr auto lease. EX and EQ popped above 800 a few times but never managed to keep it there very long. TU was at 815 for 6+ months, now its dipped to 779 with new accts including new auto lease.

[clocktick]

Do you know your real FICO scores?

[-Wade-]

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@lg8302ch wrote:

It can be done with AAoA of 4yrs, quite many new accounts and inq, but perfect payment history and no badies. All I have is revolving accounts on my CR, no installment loan, no mortgage, no car loan, no student loans, etc....just the cards in my signature and I crossed the 800 border to 802 with optimal number of accounts reporting. Right now I am testing how far I drop with reporting balances on my accounts, overall util is 4% and this was pretty much the same as with 802 but only 1 account reporting a balance the rest to 0. In May I will see if I can make it back up and cross the 800 line just by optimal reporting...LOL.. I am curious myself to see if Fico has really no memory

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No it does not have a memory............3 1/2 years ago i was a victim of ID theft with 11 CO and 1 judgement and none of them were mine . It took me over a year to get all them off with 10 or 11 police reports and all i had on my report was an old close Amex acount from 2001. I have less than 10 accounts total and i am a member of the 800 club. I did just get a new TL that has not reported yet !!!  so i will have to wait and see what my scores will be when it reports ..But i wll be back in the 800 club soon if it

knocks me out

PS :  AAoA is 6.4 years oldest account which is the 2 Amex accounts backdated to 2001

[vanillabean]

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@cakebuilder wrote:

how do i get to 800?

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Don't be late. Ever.

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@Josh2942 wrote:
My grandma has an 825 FICO's almost across the board and that's her credit portfolio.

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Which FICO flavors would they be?

[Anonymous]

I was able to cross the 800+ mark with a profile similar to yours. I had two cards active, 1 closed but still reporting and two student loans reporting. I think the biggest factor holding you back is probably the baddie. I'd recommend trying a gw letter to try and get it removed. Besides that I had a slightly higher aaoa ( 7 yrs I think), 0 Inq, reported < 3% on one card and my amex  was just bumped to 17k (requested the 25k but was countered $17). I did not have a car loan, mortgage, heloc etc. 

You need a thick file to consistently take hard inq, new accounts and still maintain optimum scores. You can often see the members who are occasionaly adding to there portfolio have very good scores but fall short of 800 which I assume may at times be due to the impacts to aaoa for some. The rub is that with a thinner file and focusing on optimal scoring you may be impacted by a score reduction when you begin adding inq and new accounts. So the decision is whether to add accounts now and wait, or keep a thinner file and and go for optimal scorning. You could also do a combination of both. I do think there is often way to much emphasis put on the amount of credit that is needed to have 800+ scores. Also realize many members enjoy acquiring various cards because of perks, rewards, bonus and even the materials they are made of ( I'd like a csp but other than being cool is of no use for me). Acquiring new credit for those reasons do not necessarily correlate to what is needed for the 800 score if that is what your goal is.

best of luck!