850 score and Age of Youngest > 1.0

[iv]

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@Anonymous wrote:

Thanks, iv!  This helps me a lot.  It does show that it is possible to have an extremely high score (841) with a brand new account reporting.  (Plus you had an inquiry on top of that and a substantial increase in installment U.)

I don't think I have a desire for the 850 in itself.  But I do like knowing I can get close to it, just since that way I have more room for my score to drop. 

The 841 doesn't rule out the possibility that you went to a new scorecard that had a maximum of 848 (say) whereas the ideal scorecard you were previously in might have had a maximum of 865 (including buffer).  Obviously I am just making up some numbers there.  Or as you say maybe an 850 was still possible in the new scorecard, and if you hadn't had the inquiry and the change in installment U, you might have still had an 850.

Prior to adding the new account, what was your Age of Oldest Account?

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Oldest still-reporting account at that point was 18-years (revolving account, open/active).

There were also multiple closed mortgage and other installment loans reporting at the time, the oldest being a 12-year old closed mortgage.

My profile tends to be slanted more to installment (vs revolving) than is common around here - it's not been unusual for me to have more open/closed mortgage tradelines listed than open/closed revolving tradelines. What effect that has (if any) on scorecard placement, I don't know.

[JLK93]

I've achieved 850 on EQ with several accounts less than 6 months old and 1 HP.

The highest score I've ever had on TU, with age of youngest account < 1year and 0 HPs, is 849. Based on my experiences I question whether it is possible to achieve an 850 on TU with AoY < 1 year. It might be different for people with mortgages.

The highest score I've ever experienced on EX, with age of youngest account < 1 year and 0 HPs, is 847. I currently have 847 on EX with newest account less than 2 months old and 0 HPs.

[Anonymous]

Immensely helpful, JLK.  Gratefully received.

[newhis]

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@Anonymous wrote:

Yeah, Age of Youngest Account considers all accounts, whether they are installment or revolving, also whether they are closed or open.  Doesn't matter.  An account is an account.  AAoA (Average Age of Accounts) works the same way, as does Age of Oldest Account.

I thought that your Age of Oldest might be really high... good to know.

I do not know if the people that got to 850 with a new SSL had any CC younger than 1 year.  Can't even remember their screennames or whether was 1 or 2 of them.  If I am willing to plow throught the thread tomorrow I may be able to find their names, and then you can ask them via PM.

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Thank you and thanks to JLK93 for the data. 

I'll wait until the SSL is 1 year old to see if I get to 850 on TU/EX.

[manyquestions]

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@JLK93 wrote:

I've achieved 850 on EQ with several accounts less than 6 months old and 1 HP.

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I've had 850 on EX and TU with two accounts at three months age. For me, EQ was the hard one to hit 850. I don't think I hit 850 on EQ until the two new accounts hit six months. 

[JLK93]

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@manyquestions wrote:

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@JLK93 wrote:

I've achieved 850 on EQ with several accounts less than 6 months old and 1 HP.

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I've had 850 on EX and TU with two accounts at three months age. For me, EQ was the hard one to hit 850. I don't think I hit 850 on EQ until the two new accounts hit six months. 

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What was your AAoA?

[manyquestions]

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@JLK93 wrote:

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@manyquestions wrote:

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@JLK93 wrote:

I've achieved 850 on EQ with several accounts less than 6 months old and 1 HP.

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I've had 850 on EX and TU with two accounts at three months age. For me, EQ was the hard one to hit 850. I don't think I hit 850 on EQ until the two new accounts hit six months. 

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What was your AAoA?

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>10 years AAoA on all three.  The one obvious difference between my EQ report and TU and EX is that the only loan of any kind reporting on my EQ is the Alliant loan which is one of the two new accounts with the other being a credit card.  Both TU and EX have the Alliant loan as the only open loan of any kind, but TU and EX also have a 9 year old closed installment loan reporting.  This makes me wonder if there might be a separate "age of oldest loan" factor that puts me on a slightly more generous scorecard or in some other way helps with my FICO 08 score on TU and EX. 

EDIT:

I got curious enough I looked up my old reports to see if anything else was different back then and I now think a contributing factor to the score difference might have been having 2 recent inquiries on EQ.

My EQ FICO 08 was at 846 (2 inquiries and 2 accounts under 12 months) until the oldest inquiry rolled over the twelve month mark giving me 850 (1 inquiry and 2 accounts under 12 months).  The oldest inquiry passing 12 months coincided with the two new accounts passing six months so I can't separate those events.

My TU and EX were both 850 (2 accounts and 0 inquiries under 12 months).

[NRB525]

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@Anonymous wrote:

PS to Newhis....

You just made me think of something.  I believe that somewhere in the Share Secure Loan Technique thread we have at least one person who claimed to have hit 850 after adding his Alliant loan and paying it down.  That would confirm that the presence of a very young account (AoY < 0.25) would not in itself prevent you from getting to 850. 

The SSL is an especially nice way to test this because it involves no hard inquiry, which most new accounts do.  I will go back and read through it tomorrow and see if I can find the person or people who made that claim.

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Another wonky possibiltiy: If you don't have a savings account at State Department FCU, open one now. That gets a HP, but then sets up a source for a new credit account. Later, after the HP fades, you can open a secured CC with them for a $250 deposit, get the $250 minimum secured limit, and no HP involved in that step. That also gets you a card where you can force the utilization using only $200 charges, to see other break points later.

[Anonymous]

Hello NRB!  I believe that our brief Brutal Body Shots will be doing something like that very soon.  By late spring (sooner I hope) he plans to have a CC with a very small CL, amd he'll be using that to test individual util breakpoints.  His profile is ideally situated in a way for a test like that since (for his profile) one bureau is very dirty, one bureau has only very mildly dirty, and one bureau is absolutely clean.

[vanillabean]

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@Anonymous wrote:

A dozen or more people report in to the forums each year that they achieved an 850 FICO 8.

Does anyone know if this has been achieved with an Age of Youngest Account < 1.0 year?

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My EQ and TU < 1.0 year, EX = 1.0 year (new credit, not inquiry).

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@manyquestions wrote:

I've had 850 on EX and TU with two accounts at three months age. For me, EQ was the hard one to hit 850. I don't think I hit 850 on EQ until the two new accounts hit six months.

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@manyquestions wrote:

>10 years AAoA on all three.

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I would be curious to hear what your mortgage scores are (EQ 04 TU 04 EX 98).