How long does it take before your profile hits 800+ FICO 8 without an active installment loan?

[crystal626]

Paid my Chase card down to $0 so they off-cycle reported it. EX8 went up to 787.

Total debt went under $2K ($1881), 9/20 accounts with a balance.

Getting close.

[ElvisCaprice]

     As you already know.   It just doesn't matter.  Can't deposit 800 Fico score in a checking account.  You can already get any CC if your last 2 years of profile data are "striken down of velocity".    You'll tire of these snail movement observations, next.

[crystal626]

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@ElvisCaprice wrote:

     As you already know.   It just doesn't matter.  Can't deposit 800 Fico score in a checking account.  You can already get any CC if your last 2 years of profile data are "striken down of velocity".    You'll tire of these snail movement observations, next.

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I personally like watching my profile improve over time. I would suspect that goes for most people who come to this particular section of the forum. All of my immediate credit needs are being met right now so why wouldn't I want to optimize before I blow it all up in the fall? lol.

[Thomas_Thumb]

^ Agreed.

Some people just don't get it and never will. I'm looking forward to the impact of dropping # of cards with balances on your scores.

[crystal626]

Well my Experian FICO 9 definitely approved of me dropping under $2K.

[Thomas_Thumb]

Almost there. Looking forward to seeing the EQ/TU boost from fewer cards reporting balances.

[FICOdawg]

I'm in same situation.   I was able to get my scores just over 800 then got a boat loan and now back under.

     If I go 0/12 I'll probably nose back over 800.   In my case I need to add couple more cards and after a few years my acct should be less swingy on minor account moves.    I'm going to add a card this week since once I hit 6 months since last card added.

     I don't need CL as my balances I'm paying off immediately.

     I resent the hell out of the FICO scoring game.     Tons of credit history, personal finances probably top 3% and here I am playing the system as I know I'm going to be getting a big boat loan the year I retire and need to be solidly 800.

[FICOdawg]

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@Thomas_Thumb wrote:

^ Agreed.

Some people just don't get it and never will. I'm looking forward to the impact of dropping # of cards with balances on your scores.

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Correct.    Wish I had been more diligent to maximize my FICO before the last two years.    You never know when or how a FICO score will come in handy.

     If you wait until you need it, you're late 🤦‍♂️

[BrutalBodyShots]

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@FICOdawg wrote:

     If I go 0/12 I'll probably nose back over 800.   In my case I need to add couple more cards and after a few years my acct should be less swingy on minor account moves.    I'm going to add a card this week since once I hit 6 months since last card added.

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If you go 0/12 your AoYRA will hit 12 months and you'll experience scorecard reassignment to No New Revolver. Notable gains on a clean/thick/mature file are typically realized at that time. If you keep adding cards every 6 months, you reset that AoYRA clock and perpetually remain on your New Revolver scorecard, which only makes your goal of hitting 800+ more difficult. 

[FICOdawg]

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@BrutalBodyShots wrote:

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@FICOdawg wrote:

     If I go 0/12 I'll probably nose back over 800.   In my case I need to add couple more cards and after a few years my acct should be less swingy on minor account moves.    I'm going to add a card this week since once I hit 6 months since last card added.

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If you go 0/12 your AoYRA will hit 12 months and you'll experience scorecard reassignment to No New Revolver. Notable gains on a clean/thick/mature file are typically realized at that time. If you keep adding cards every 6 months, you resent that AoYRA clock and perpetually remain on your New Revolver scorecard, which only makes your goal of hitting 800+ more difficult. 

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I understand this and you snipped this out of context.       By adding accts in 5 years my score won't be as sensitive to minor changes.     You focus on single details too much.

     Of my 4 CC accts, 3 are Chase and two of those are my oldest open accts.   That's not where I like to be if they ever decide to take action on my accounts they hold a lot of power over my credit score.      My only regret is I wish had done the FICO game 15-20 years ago and opened a couple more cards and hung onto them but I only kept open cards I needed/used.    I'd probably be pushing 850 right now.

      I don't need credit right now but I'm also not going to get lazy and take no action and regret it later as this is really my last chance at my age to game my credit scores.