FICO: How high can it get with just CCs?

[Anonymous]

I am building up credit from scratch (new in the country).

I currently have 1 Wells Fargo secured card, 1 Capital One Visa and a Macy's store card. 

I don't see myself getting a mortgage until early 2009... a car loan maybe in early 2010.

How high can my FICO scores get with just credit cards?

I've read about having a good combination of loans/cards/mortgages to push scores up. Is there any other loan I can get to help my FICO -- in preparation for the mortgage I plan to get in 2009?

[MidnightVoice]

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BlueEagle wrote:

I am building up credit from scratch (new in the country).

I currently have 1 Wells Fargo secured card, 1 Capital One Visa and a Macy's store card. 

I don't see myself getting a mortgage until early 2009... a car loan maybe in early 2010.

How high can my FICO scores get with just credit cards?

I've read about having a good combination of loans/cards/mortgages to push scores up. Is there any other loan I can get to help my FICO -- in preparation for the mortgage I plan to get in 2009?

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Do you have a score yet?

And in general, any installment loan might help, but getting a mortgage depends on more than just your score

[Anonymous]

I got my 1st secured card in Dec '07... the pre-app Cap 1 just came in in Feb '08.

I'm itching to pull a score but I'm thinking it's just too soon? Do you think I have a score by now?

[Anonymous]

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BlueEagle wrote:

I got my 1st secured card in Dec '07... the pre-app Cap 1 just came in in Feb '08.

I'm itching to pull a score but I'm thinking it's just too soon? Do you think I have a score by now?

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You need six months of history on a credit card or installment loan in order to generate a score.  I'd wait until July to pull scores.

[Anonymous]

Blue Eagle:

My EQ FICO is 806 with just credit cards.

[Anonymous]

6 months to get a score... Thanks Cheddar.

Back to my original question. Do you know how high my scores can get with just credit cards -- assuming prompt payments and maintaining 1-9% util by statement cutoff?

[Anonymous]

806.

WOW!

[tonsers]

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@Anonymous wrote:

I am building up credit from scratch (new in the country).

I currently have 1 Wells Fargo secured card, 1 Capital One Visa and a Macy's store card.

I don't see myself getting a mortgage until early 2009... a car loan maybe in early 2010.

How high can my FICO scores get with just credit cards?

I've read about having a good combination of loans/cards/mortgages to push scores up. Is there any other loan I can get to help my FICO -- in preparation for the mortgage I plan to get in 2009?

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My husband has an 800+ score and has never had a mortgage (hopefully next year) and has never had a car loan (work always supplied cars). In an attempt to help his credit, he took out a $1000 personal loan from his bank. He paid $100/month - and it really gave a boost to his score.

[Anonymous]

There is also "age limits" to consider...w/out (I think) a minimum 5 year credit history it is almost impossible to brake the 780 ceiling.

[haulingthescoreup]

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@tonsers wrote:

My husband has an 800+ score and has never had a mortgage (hopefully next year) and has never had a car loan (work always supplied cars). In an attempt to help his credit, he took out a $1000 personal loan from his bank. He paid $100/month - and it really gave a boost to his score.

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This is a great solution, and the loan money can be put in a high(ish) interest MMA, to offset the APR a bit.

If anyone gets a loan, though, drag the payments out over 6 months to a year for scoring purposes.