MidnightVoice wrote:
smallfry wrote:
No mortgages and no car loans. Nice score. When did you notice your score go from very good to great?
for me, 758 was very good, and 763 was great.So making an educated guess, 760 - when you become a FICO High Achiever.
If I recall correctly, at one time FICO did not label scores as being "very good," "great," etc. When FICO began designating these score distinctions, my scores were noted as "great," so I never made the transition from "very good" to "great."
I would assume that MidnightVoice is correct in his assumption that at 760 your FICO score is considered "great."
Message Edited by psychic on 07-06-2008 09:52 AM
Odd - my TU report says that the magic amount is $1200, not $600. I got dinged for having $2300 in CC debt, despite util of 3% (without timing the balance reporting -- I just PIF by due date).
Phoenix-rising wrote:
I didn't see this in the list of characteristics, but it shows up as my number 1 negative:
The amount owed on your revolving accounts is too high.
Your FICO score evaluates how much you owe on your revolving accounts (such as your credit cards). The amount you owe on these accounts is too high.Most FICO High Achievers owe less than $600 on revolving accounts such as credit cards and department store cards.
I have a long way to go to get it under $600.
Message Edited by Phoenix-rising on 07-04-2008 07:11 PM
This was from my EQ report when I signed up for Scorewatch. I didn't pay for the EX or TU reports. I have no idea what they say.
masdeocho wrote:Odd - my TU report says that the magic amount is $1200, not $600. I got dinged for having $2300 in CC debt, despite util of 3% (without timing the balance reporting -- I just PIF by due date).
Phoenix-rising wrote:I didn't see this in the list of characteristics, but it shows up as my number 1 negative:Your FICO score evaluates how much you owe on your revolving accounts (such as your credit cards). The amount you owe on these accounts is too high.Most FICO High Achievers owe less than $600 on revolving accounts such as credit cards and department store cards.I have a long way to go to get it under $600.
Message Edited by Phoenix-rising on 07-04-2008 07:11 PM
@Anonymous wrote:
I think I have the one that's missing- average revolving age...
#4
You have not established a long revolving credit history.
Your first revolving account was opened
1 Year, 6 Months ago
FICO High Achievers [?] opened their first revolving account 19 years ago, on average.
Your FICO score measures the age of your oldest revolving account [?] and the average age of your revolving accounts. In your case, either your oldest revolving account was opened recently or the average age of your revolving accounts is relatively low. People who do not frequently open new accounts and have longer credit histories generally pose less risk to lenders. Therefore, as your credit history lengthens and you pay your bills on time, this factor should have less of a negative impact on your score.
That's the first time I've seen mention of average revolving age not being long enough, I think, but you'll notice that they still don't tell you what the average of the High Achievers is! --just the longest. They're teasing us....
I get thumbs up for longest revolving, but still not a peep on average revolving.
You have an established credit history.
20 Years, 9 Months ago
FICO High Achievers [?] opened their oldest account 19 years ago, on average. Average age of your accounts6 years
Most FICO High Achievers [?] have an average age of accounts between 6 and 12 years.- Your FICO score measures the age of your oldest account and the average age of your accounts. Your FICO score was helped because you have a relatively long credit history and you haven't recently opened many new accounts.
You have an established revolving credit history.
20 Years, 9 Months ago
FICO High Achievers [?] opened their first revolving account 19 years ago, on average.- Your FICO score measures when you opened your first revolving account [?] (such as a credit card). Your FICO score was helped because you have a relatively long credit history.