Examples of the Elusive Theoretical 850 FICO score and Fair Isaac Algarithom.

[Anonymous]

Please post Examples or post what you have learned as FACT and Opinion of the Elusive Theoretical 850 FICO score and Algarithom.

Fair Isaacs gives us little clues made public here and there.

Like reaching the 820-830 FICO score. Not hard if you follow the rules given to us from MyFico.com.

I would like to see CR's from people that have scores in the 840's. Most people seem to have a FICO limit between 820-830. There are reasons why you are not going higher. I am searching for these reasons. You can't open a lock if you don't have the key.

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Please post all known types of credit here., Such as different installments, revolving ect... Knowing what tools we have and items that might be missing can be an important factor. For instance. If you don't have an installment on your credit report your score will be higher after you have had a long term installment.

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If you think "Inside the box", Reaching 800, piece of cake. 820, just as easy. 830, takes years.

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Breaking 830's... people that have broken 830's this is for you. You've been able to "Think out side the box". Congratulations! I know as simple as it is, please share some ideas with us to go from 840 up to 850?

So many people I talk to say I don't want to share. Well, I am sharing some of the things I learned, please share back. Even if you don't want to tell us how you got in to the 840's at least tell us what doesn't work. Thanks.

Message Edited by ilovepizza on 06-19-2007 10:31 PM

[Anonymous]

I guess that if you have that elusive 850, you basically don't know you have it. Because you are so rich that: 1.- Banks send you platinum cards with unbelievable pre-approved limits and therefore, no pings lowering your credit score 2.- You don't need to check your score as we layman have to.

[Tuscani]

Below is some detail from a friends Experian credit report (posting with permission).  Despite the 835 score you can see that not everything is "perfect"... there are a few accounts with very low limits, one of which appears to have gone over limit once.

Note that there are still some tradelines listed that are over seven years old. Since they are not negative tradelines they are not removed as quickly.

Experian lists two negative factors: "You have too many accounts that were recently opened" and "You have a relatively high number of accounts with balances" Go figure.

Note: There are no negative items and no inquiries on this report.

Last......Type.....Name.................Date....Balance/Limit/High Credit..**Notes**
Report..................................Opened.......(when available)

12/04 Revolving... CBUSASEARS...........04/1989 $-/0/93
06/03 Revolving... BAC/FLEET-BKCARD.....03/1992 $-/ **Account closed at credit grantor's request**
11/98 Installment. PNCBANK..............11/1995 $-/ **Auto Loan**
03/06 Revolving... GEMB/MENS WEARHOUSE..04/2001 $0/424/554
03/06 Revolving... CITI.................06/1988 $79/12300/
03/06 Revolving... BANK OF AMERICA......03/1992 $0/12000/3398
03/06 Revolving... CHASE................10/1998 $0/13000/9855
03/06 Revolving... GEMB/JCP.............03/1997 $0/1000/197
03/06 Revolving... WACHOVIA BANK NA/FTU.08/2002 $13,079/100,000/75,175 **Credit Line Secured**
05/05 Revolving... UNVL/CITI............04/1990 $0/5000/
03/06 Revolving... CHASE................04/2005 $0/16,000/85
08/05 Revolving... MBNA AMERICA.........08/2000 $0/17,100/443
03/06 Revolving... UNVL/CITI............04/1990 $0/7500/
03/06 Revolving... DISCOVER FIN SVS LLC.04/1989 $0/12500/307
03/06 Revolving... TNB - TARGET.........10/2001 $0/200/86
03/06 Revolving... DISCOVER FIN SVS LLC.10/1995 $0/4800/63
03/06 Revolving... CHASE................06/1997 $0/12500/12500
07/00 Revolving... MBNA AMERICA.........05/2000 $0/9000/1696
09/97 Revolving... GEMB/HECHINGERS......08/1997 $0/3000/371

IMO, the "secret" to 800s is perfect payment history, good mix of credit, very little or zero util, and plenty of age.

Message Edited by Tuscani on 05-19-2007 08:18 AM

[MidnightVoice]

Of course, we need to understand that FICO measure the likelyhood of someone not paying on time.  As anything can happen in real life, the only way there is ZERO chance of someone defaulting is if they have no loans that they are paying.  So the only way ot get a perfect score is not to have any loans out.  But you also need creit cards to get a perfect score, and if you have no balances to pay back, you lose points for not using the credit cards......

Catch 22 anyone? 

[Anonymous]

Thank you very much for sharing this great information. Probably so, but just checking, was the 835 Fico score on the same day this cr was pulled back in April of 2006?

:-)

[Anonymous]

The best thing I learned is V.V.A.Q.L.

V-Variety
V-Volume
A-Age
Q-Quantity
L-Low Balances

[Anonymous]

This thread moved here.

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http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=6088

Message Edited by ilovepizza on 09-15-2007 09:40 AM