@Revelate wrote:
@Imperfectfuture wrote:
@Anonymous wrote:
@DIYcredit wrote:Hi,
Does anyone have evidence of an 800 Fico Score w/ credit cards only after derogatories deleted or removed from credit report? What I am most interested in is how long did it take? If my fellow Forum contributers could supply this information it is greatly appreciated.
Thanks,
DIYcredit
You mean how long did it take from when the derogatories were removed? If they are removed, it's as if they were never on there. So how long it's been since they were removed is irrelevant. It's not like you need time to recover from your now-deleted derogatories. It's entirely possible that if your report otherwise supported an 800 score, that you would see that score the moment the derogatories were removed.
To your question about an 800 score with only credit cards, I once had a TransUnion FICO 8 of 798 with only credit cards and an old mortgage that was closed in good standing seven years ago. And at that time my average age of accounts for the credit cards was less than three years. I don't know how many points I was getting from that old mortgage, but it would seem that with a good payment history and no derogs, a FICO 8 score of 800 is possible with only credit cards.
Reached 800 on TU, less than two years AAoA, but did do the reindeer game installment loan. I initially did loan because can not drive, and was going to be renter forever. Changed my mind, and am now going through harrowing mortgage process (my USDA LO knows nothing, okay maybe something
.
Credit cards only, seen anecdotal reports of eight years to get there. PS, my EQ went up 45 pts to 781 the same day. 3b must not be keeping its promises with EX, or EX is poo poo ing some of the methodology.
If goal no loans and 800, takes a bit, but you are pretty much in with 780+. If goal fast 800, get a shared secured loan, and play Fico reindeer games. Your choice.
Yeah and then you go out and do something worthwhile like get a mortgage, and the reindeer fall through the ice. =/
I'll be interested to see your datapoint post-mortgage reporting but I lost all the points I gained from the installment loan tricks. Looks like I am going to be stuck sub 800 for a while yet even after I get clean at the end of 2017; nice to see that you got to 800 around 2 years or less AAOA, what was your oldest account if I might ask?
Not sure on 3B reporting quite yet, I get lots of updates but not for installment loan tracking unless it's a new account.
Big data points, clean files since December 2014. Loan 16 months old before pay down to less than 9%. So, there is age. I will also be paying 1.5 per month for 30 months, it will balance the mortgage (since loan amounts do not matter, one low, one high). Which will probably look like a bit over 50% for awhile. The AGING of the loan is important.
@Imperfectfuture wrote:
@Revelate wrote:
@Imperfectfuture wrote:
@Anonymous wrote:
@DIYcredit wrote:Hi,
Does anyone have evidence of an 800 Fico Score w/ credit cards only after derogatories deleted or removed from credit report? What I am most interested in is how long did it take? If my fellow Forum contributers could supply this information it is greatly appreciated.
Thanks,
DIYcredit
You mean how long did it take from when the derogatories were removed? If they are removed, it's as if they were never on there. So how long it's been since they were removed is irrelevant. It's not like you need time to recover from your now-deleted derogatories. It's entirely possible that if your report otherwise supported an 800 score, that you would see that score the moment the derogatories were removed.
To your question about an 800 score with only credit cards, I once had a TransUnion FICO 8 of 798 with only credit cards and an old mortgage that was closed in good standing seven years ago. And at that time my average age of accounts for the credit cards was less than three years. I don't know how many points I was getting from that old mortgage, but it would seem that with a good payment history and no derogs, a FICO 8 score of 800 is possible with only credit cards.
Reached 800 on TU, less than two years AAoA, but did do the reindeer game installment loan. I initially did loan because can not drive, and was going to be renter forever. Changed my mind, and am now going through harrowing mortgage process (my USDA LO knows nothing, okay maybe something
Credit cards only, seen anecdotal reports of eight years to get there. PS, my EQ went up 45 pts to 781 the same day. 3b must not be keeping its promises with EX, or EX is poo poo ing some of the methodology.
If goal no loans and 800, takes a bit, but you are pretty much in with 780+. If goal fast 800, get a shared secured loan, and play Fico reindeer games. Your choice.
Yeah and then you go out and do something worthwhile like get a mortgage, and the reindeer fall through the ice. =/
I'll be interested to see your datapoint post-mortgage reporting but I lost all the points I gained from the installment loan tricks. Looks like I am going to be stuck sub 800 for a while yet even after I get clean at the end of 2017; nice to see that you got to 800 around 2 years or less AAOA, what was your oldest account if I might ask?
Not sure on 3B reporting quite yet, I get lots of updates but not for installment loan tracking unless it's a new account.
Big data points, clean files since December 2014. Loan 16 months old before pay down to less than 9%. So, there is age. I will also be paying 1.5 per month for 30 months, it will balance the mortgage (since loan amounts do not matter, one low, one high). Which will probably look like a bit over 50% for awhile. The AGING of the loan is important.
Do you have substantial installment loans already?
The reason I ask is it's all aggregate based as near as I can tell, so when I got a mortgage I got slapped hard core. I too had my Alliant and USAA loans for more than a year before I started playing reindeer games and stumbled across the rather shocking boost of 25ish points even with my dirty files.
In my case I went from $280/$3000 to now $252,280/$261,750. Went from pretty to looking like the topographical map of Utah.
I'm going to have to pay my mortgage down by 40K or possibly even more (I need to go through the entire thread I started and see if I can pick out the top breakpoint as to whether it's 70 or 80%), if you're going from pretty installment utilization to now 50%, you're probably going to give back around 28-30 points from your raise (out of 40-45 I think from your datapoints) I would estimate.
I might catch a break though not fully a financial one: I'm going to have negative cash flow for the next two years while I finish out my undergrad (and that's before other things like dating which isn't likely to be as cheap as my me myself and I existence currently) and my school doesn't accept credit cards so I'm looking at financing the education... there is some disparity between Home Equity and HELOC prices, but I think what I'm going to wind up doing is simply take out a couple of student loans and either pay them aggressively or just hoard cash since I might be able to defer them, then refi them when I graduate as I'll be batting 770 or better at that point on EQ/EX and maybe even TU too if that 2 year discount line for 30 day lates holds as people have suggested (I'll get the uber datapoint at least), and if SOFI or the other lender allows reindeer games, if I hoard and then lump sum pay after refinance, I might accelerate that curve by an additional 30K on the top line which might start getting me installment points back combined with the then mortgage sum.
Tricky road to walk, I have to work out the numbers as it might not be financially prudent to do that... though I wish my school just accepted credit cards, this would be perfect on a ~20K 0% financing line for 21 months and just paying it aggressively down but oh well.
@Revelate wrote:
@Imperfectfuture wrote:
@Revelate wrote:
@Imperfectfuture wrote:
@Anonymous wrote:
@DIYcredit wrote:Hi,
Does anyone have evidence of an 800 Fico Score w/ credit cards only after derogatories deleted or removed from credit report? What I am most interested in is how long did it take? If my fellow Forum contributers could supply this information it is greatly appreciated.
Thanks,
DIYcredit
You mean how long did it take from when the derogatories were removed? If they are removed, it's as if they were never on there. So how long it's been since they were removed is irrelevant. It's not like you need time to recover from your now-deleted derogatories. It's entirely possible that if your report otherwise supported an 800 score, that you would see that score the moment the derogatories were removed.
To your question about an 800 score with only credit cards, I once had a TransUnion FICO 8 of 798 with only credit cards and an old mortgage that was closed in good standing seven years ago. And at that time my average age of accounts for the credit cards was less than three years. I don't know how many points I was getting from that old mortgage, but it would seem that with a good payment history and no derogs, a FICO 8 score of 800 is possible with only credit cards.
Reached 800 on TU, less than two years AAoA, but did do the reindeer game installment loan. I initially did loan because can not drive, and was going to be renter forever. Changed my mind, and am now going through harrowing mortgage process (my USDA LO knows nothing, okay maybe something
Credit cards only, seen anecdotal reports of eight years to get there. PS, my EQ went up 45 pts to 781 the same day. 3b must not be keeping its promises with EX, or EX is poo poo ing some of the methodology.
If goal no loans and 800, takes a bit, but you are pretty much in with 780+. If goal fast 800, get a shared secured loan, and play Fico reindeer games. Your choice.
Yeah and then you go out and do something worthwhile like get a mortgage, and the reindeer fall through the ice. =/
I'll be interested to see your datapoint post-mortgage reporting but I lost all the points I gained from the installment loan tricks. Looks like I am going to be stuck sub 800 for a while yet even after I get clean at the end of 2017; nice to see that you got to 800 around 2 years or less AAOA, what was your oldest account if I might ask?
Not sure on 3B reporting quite yet, I get lots of updates but not for installment loan tracking unless it's a new account.
Big data points, clean files since December 2014. Loan 16 months old before pay down to less than 9%. So, there is age. I will also be paying 1.5 per month for 30 months, it will balance the mortgage (since loan amounts do not matter, one low, one high). Which will probably look like a bit over 50% for awhile. The AGING of the loan is important.
Do you have substantial installment loans already?
The reason I ask is it's all aggregate based as near as I can tell, so when I got a mortgage I got slapped hard core. I too had my Alliant and USAA loans for more than a year before I started playing reindeer games and stumbled across the rather shocking boost of 25ish points even with my dirty files.
In my case I went from $280/$3000 to now $252,280/$261,750. Went from pretty to looking like the topographical map of Utah.
I'm going to have to pay my mortgage down by 40K or possibly even more (I need to go through the entire thread I started and see if I can pick out the top breakpoint as to whether it's 70 or 80%), if you're going from pretty installment utilization to now 50%, you're probably going to give back around 28-30 points from your raise (out of 40-45 I think from your datapoints) I would estimate.
I might catch a break though not fully a financial one: I'm going to have negative cash flow for the next two years while I finish out my undergrad (and that's before other things like dating which isn't likely to be as cheap as my me myself and I existence currently) and my school doesn't accept credit cards so I'm looking at financing the education... there is some disparity between Home Equity and HELOC prices, but I think what I'm going to wind up doing is simply take out a couple of student loans and either pay them aggressively or just hoard cash since I might be able to defer them, then refi them when I graduate as I'll be batting 770 or better at that point on EQ/EX and maybe even TU too if that 2 year discount line for 30 day lates holds as people have suggested (I'll get the uber datapoint at least), and if SOFI or the other lender allows reindeer games, if I hoard and then lump sum pay after refinance, I might accelerate that curve by an additional 30K on the top line which might start getting me installment points back combined with the then mortgage sum.
Tricky road to walk, I have to work out the numbers as it might not be financially prudent to do that... though I wish my school just accepted credit cards, this would be perfect on a ~20K 0% financing line for 21 months and just paying it aggressively down but oh well.
While a wordy, yet worthy response 
, it is my only installment loan. It will be interesting to see what happens. However, if do not get mortgage, have really nice scores for 30 months.