FICO Scores - ALL 3 NOW in 800+ Range as of 04/07/2018!

[joesbrat67]

Today, I finally achieved a pinnacle of success that I thought would have taken several more months to accomplish.  ALL of my FICO scores are now in the 800+ range.  The scores are, as follows: EQ - 822, TU - 829, EX - 815

I'd like to thank those who took the time to post some very detailed and useful posts about general scoring logic and how good credit card habits can lead to the always-desired 800+ "exceptional" range.

Just out of curiosity, for those that get into the 830+ and higher range - is that more of a challenge to achieve, or to maintain once you get there?  And, is 850 really a goal worth setting?  I've seen a lot of mixed reviews on that.

Again, my thanks to the myFICO forum and all those that post here.

[Anonymous]

Congratulations on getting all of your scores a good bit above 800.

Where do your age of accounts factors stand currently?  AoOA, AoYA, AAoA?

When it comes to maximizing the last bit of your FICO scores, it really comes down to these factors.  Unlike the other sectors of the FICO pie, there's nothing you can do about the age-related factors other than wait.  No doubt the age of accounts factors will be the constraint to your scores getting into that 830-850 realm.  The only other thing really is to not apply for credit (unless you need it) if you're looking to push your scores as high as possible.  The basics of keeping payment history perfect and keeping utilization low go without saying once you're at the 810-820 range.

[joesbrat67]

AaoA = 5 years, 8 months (good status)

AoOA = 15 years, 4 months (good status)

Payment history (all 3) = Exceptional

Amount of Debt (all 3) = Very Good

Amount of New Credit (all 3) = Very Good

Credit Mix (all 3) = Very Good

[Anonymous]

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@joesbrat67AaoA = 5 years, 8 months (good status)

AoOA = 15 years, 4 months (good status)

Payment history (all 3) = Exceptional

Amount of Debt (all 3) = Very Good

Amount of New Credit (all 3) = Very Good

Credit Mix (all 3) = Very Good

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Your AAoA and AoOA are both maybe 2 years away from being top-notch in terms of FICO scoring benefit.  You're maybe leaving 10-20 points on the table from your age of accounts factors.  What about the age of your youngest account (AoYA)?  If that's less than 1 year, you'll see a score increase once it crosses 1 year in age.

I'm not sure what CMS you are using to give you those "fluff" ratings (very good, exceptional, etc) but the only thing I'd say is that if your amount of revolving debt reported is > 8.9% of your total limits, you are leaving points on the table; this could be around 15 points.  You want all of your accounts to report $0 while just one reports a small balance, known as "AZEO" - this will maximize your score with respect to the debt or amounts owed category.

[joesbrat67]

The very good/exceptional indicators are coming from my most recent FICO score report, where the 5 key areas that make up the score are broken out.

I have 2 cards that were issued as of April 2017.  I'm about to cross the one-year mark with both within the next 2 weeks, and I have another that will hit the 2-year mark in early June.  The rest are 3+ years in age.

Also, my utilization % is just over 1% between 2 cards.  My goal is to get one of them down to zero, with the other keeping a small balance of 1% of less.  Current overall credit line available is 90,300.

[Anonymous]

I would guess you'll see a 10-15 point increase across your scores when your AoYA hits the 1 year mark in a few weeks.

As for your utilization, if you're at 1% or 2% you're in an ideal place with respect to FICO scoring, which from any CMS "fluff" software should be presented as "exceptional" or whatever their top-notch lingo is.  1%-2% utilization is not "very good" as that would suggest that there's room for improvement still [with respect to FICO scoring] and there isn't.

[NRB525]

Congrats on the excellent scores.  Getting over 800 is definitely a good feeling. 

As to how difficult those scores are to maintain, it depends on whether you need to borrow for a home or auto. That change, adding a large debt, would likely decrease score due to the new account, and likely high utilization, but when starting from good scores, the score decrease is the price of getting the loan. Well, that and the fees and interest on the loan, that’s part of the price too. 

To get to and makntain 850, one really needs to stop borrowing except for small revolving amounts, and long term debts like mortgage and auto loans need to be well aged. If that also fits the persons plans, reduced borrowing, then the 850 score is certainly a good goal.