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I finally broke 800!!!

Your FICO® Scores can impact your loan interest rates, terms, approvals and more.
Valued Contributor

Re: I finally broke 800!!!


@BrutalBodyShots wrote:

MC, congrats on hitting that eight-hundo milestone!

 

Prior to your AoYA drop to 0 months here, what was your AoYA prior?  I'm thinking it must have been < 12 months, as if not your scores would likely have taken a 15-20 points penalty?


That would be my Discover card. It was 51 weeks old when I was approved for the DCU credit card and auto loan. I was wondering why I didn't take a score hit from the new accounts. My TU gained 9 points. I would have said that was from paying my first auto loan to under 9% but I added another auto loan to the mix. 

 

I'm thinking I might lose some points when that first loan is paid off in September  The origional amount was $24,995. It's now at $2200 (8.8% rounded to 9). The new loan is $28,300. ($53,295 for the two). I expect it to be $25,800 when loan #1 is paid off.  So loan utilization will go from 57% to about 91%. 

Cap 1 - $23,000 / Lowe’s - $17,000 / Barclay Apple Rewards - $15,000 / Capital 1 - $15,000 / Walmart - $15,000
Cap 1 - $12,000 / PenFed - $10,000 / JC Penney - $10,000 / Discover IT - $9700 / Discover IT - $7500
NFCU - $7300 / Barclay Rewards - $5400 / DCU - $5,000 / Merrick - $2400 - Total - $154,300

EQ - 760 / TU - 801 / EX - 748
Message 11 of 16
Frequent Contributor

Re: I finally broke 800!!!

Congrats!!



Current Scores Dec 2018 – FICO 8
Message 12 of 16
Regular Contributor

Re: I finally broke 800!!!


@NRB525 wrote:
Congrats! That is an excellent result from all the effort to rebuild!

The 42% utilization shows you can still have an excellent score with some borrowing. And that is one purpose of getting to an excellent score.

My wife and I put almost all of our spend on a single credit card, which is in my name, she's the AU.  It usually reports a balance of 10 to 20 %, which is paid in full every month.  My other cards rarely show a balance.  That's about 3 or 4 % of my revolving limit.  Until about a year ago, I would notice big flucuations in my FICO 8 scores (I get scores from TU and EX from various credit cards, no way I am paying for them.) depending on what balance got reported.  790ish on the high end, 760 low end when their was a high balance on the main card, and more than one of my other cards reported a balance.


About a year ago (a little longer now, I think), my scores took a jump (from the 790s to the 810s).  At the same time, there is very little variation in the score, it's between 810 and 816, even the month we had 32% util on the card, and one of my other cards reported a 5% balance.   Nothing changed in my behavior; my overall limits went up, but not on the main card; no new accounts.  Apparently, I aged on to a score card that's much less sensitve to balances. 

I have a new installment loan that should report soon, I will be interested to see how that changes things. 

Message 13 of 16
Super Contributor

Re: I finally broke 800!!!

It definitely sounds like based on your age of accounts factors that your scores are less sensitive today to balance changes than was the case prior.

 

Would you be able to tell us your AoYA, AAoA and AoOA now (when you're seeing 10 point or less fluctuations) compared to those same factors not too long ago when you were seeing up to 30 point fluctuations from the utilization sector of the FICO pie?

Message 14 of 16
Established Member

Re: I finally broke 800!!!

Good job. I have had my score jump up and hit 800 but goes back to 700s fast. Still cool though, I always get the urge to finance a sweet car when it's 800 but never lasts, utilization has to be perfect I think.
Message 15 of 16
Established Contributor

Re: I finally broke 800!!!

Congratulations and always aim high!


Message 16 of 16