Here's a data point for what ever it's worth. To my surprise , my Equifax and TransUnion Fico 8 scores have topped over 800.
I filed for Chapter 7 back in 2012. After it reported for 10 years on my credit report, it aged off in 2022. Also, I had a 60 day late that was removed on Equifax and TransUnion this month.
I also paid off a $15k balance on one credit card bringing down the 60% uti balance to O. I have very small balances on 3 of my very high limit cards that have an average 20k limit. The uti on my three cards is 1%.
I have followed the suggestions on this forum: kept my utilization below 10%, asked for credit line increases, never paid late, and have an exceptional mix of bank cards, auto loan, and a mortgage.
The removal of the late payment history on my Equifax and Transunion is contributing to the significant increase in scores. They both got removed 6 months early since Equifax and Transunion are reporting them as 6 years 6 months when they were reported late. Also, I think that by paying down the 15k balance on my card is also a contributing factor to pushing me over the 800 mark.
Also, I have to add that my American Express card is my oldest account, and I have had that card since 1987. However when I filed for chapter 7 in 2012, it was included in the bankruptcy. When I got off of AMEX's blacklist in 2022, I was approved for their gold card. However, AMEX does not report my 38 year credit history with them anymore. They do report on the card that I have been a member since 1987.
Another data point is that my average age on both Equifax and TransUnion credit files is respectfully 6 years and 4 years.
Congrats for surpassing 800!! I guess EQ likes you a lot more that TU, LOL.
Yeah. I noticed that too. But not everything is reported on Equifax like TransUnion.
Congratulations. Excellent accomplishment.
Get this, and here's another data point. A previous late payment just aged off of my TransUnion account. This account is 6 years 6 months old. I just gained 71 points. Wow!
@citymunky wrote:Congrats for surpassing 800!! I guess EQ likes you a lot more that TU, LOL.
I guess I make this statement too soon, TU likes you a bit more now.
Ha ha too funny. I guess I had to wait for TransUnion to update my file showing the removal of the 60 day late in order to get those 71 points.
So here's a possible data point for being in the 800 club, at least for my credit file. I can confirm that I do not have any lates on my credit report whatsoever. I am at 10% or less UTI on my credit cards that do have balances. My average age of credit on Equifax and TransUnion is 5 years. However, FICO is reporting my oldest credit file is 21 years.