Our Forums' FICO High Achievers: Who has at least one FICO Score of 760 or above?

[Turbobuick]

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@sarge12 wrote:

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@Anonymous wrote:

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@Turbobuick wrote:

Evidently I don't own a credit card that reports Equifax on Fico 8? 

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That's pretty common actually, as EQ FICO 8 is the toughest of the 3 to come by for free and/or through a CCC.  I too can't get my EQ FICO 8, although Citi does give FICO BCE 8, which it sounds like you may be getting since that's on a scale up to 900.  Your best bet is to go with a $1 trial at CCT if you don't have another source for your Classic 8 from EQ if it's a score you really want to know. 

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BBS...You can get a free monthly equifax fico 08 by opening a checking or savings account at Langley FCU. If you do not have military service you will have to make a 5 dollar donation to an approved charity to qualify for membership. It will take a couple of months to start reporting the equifax, but it comes like clockwork afterward. I actually deposted 50 in savings and 50 in checking, but I think much less was required. It will result in a hard pull to become a member. I only joined for the free Equifax fico 08...so now I get all 3 somewhere for free.

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I'm curious but not curious enough to jump through hoops just to get a fico score. I'm going to assume 890 translates into 850 for EQ. Lately I've opening checking accounts to get cash bonuses not credit scores. lol

That brings up a queston. Can opening checking accounts, collecting bonuses, and closing checking accounts reflect on my fico score or is there a banking score separately?

[Thomas_Thumb]

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@Turbobuick wrote:

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I'm curious but not curious enough to jump through hoops just to get a fico score. I'm going to assume 890 translates into 850 for EQ. Lately I've opening checking accounts to get cash bonuses not credit scores. lol

That brings up a queston. Can opening checking accounts, collecting bonuses, and closing checking accounts reflect on my fico score or is there a banking score separately?

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Fico scores are affected by churning of credit card accounts. They are not affected by churning of checking accounts.

There is a "banking" score called Chexsystems. That scoring algorithm puts a lot of focus on churning of checking accounts. If you have a Chexsystems score it undoubetedly has been negatively impacted - perhaps a great deal. That can lead to denials when trying to open new checking accounts in the future.

Check out the below thread for more info.

https://ficoforums.myfico.com/t5/Personal-Finance/WTH-is-up-with-my-ChexSystems/m-p/5289348#M24623

[Anonymous]

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@Thomas_Thumb wrote:

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Fico scores are affected by churning of credit card accounts. They are not affected by churning of checking accounts.

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It was stated above though that one must take a HP to open a checking account at one CU, so I imagine that could be the case elsewhere as well.  That being said, HPs can of course impact FICO scores.

[sarge12]

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@Anonymous wrote:

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@Thomas_Thumb wrote:

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Fico scores are affected by churning of credit card accounts. They are not affected by churning of checking accounts.

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It was stated above though that one must take a HP to open a checking account at one CU, so I imagine that could be the case elsewhere as well.  That being said, HPs can of course impact FICO scores.

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Yes BBS, they do a hardpull at Langley to become a member or maybe to open an account, not sure which. I think they gave me some reason for it, but I can't recall what it was. I think my Michelin credit union does as well, but since I have been a member there since I started working at Michelin Tire in 1979, I can't remember. I worked there 35 years until my damaged spinal cord caused my involuntary disability. I could theoretically work as a pie taster or something with all the permenant restrictions imposed after what they called a functional capacity exam. I actually thought the physical therapist who administered the test was going to clear me to go back to work. When he failed me, I told him that I had done everything he asked me to do. He said that was because I was sruggling to do what he had seen me do, and it would not have been safe to have me do more. Within a week of that test result my SSDI was approved. Michelin was paying me LTD, but after 6 months on LTD they required an employee to apply for SSDI, which they pay for a company to do all the paperwork for. If the employee refuses to apply the discontinue the LTD. After 1 year on LTD the employee is terminated, but LTD and insurance continues for another year if SSDI is not approved, and must be paid back out of a lump sum when approved. I hated leaving because I loved my job, but in reality Michelin treated me very good, and in fact with all my 401k and retirement from the company, money is no issue at all. Do not get me wrong, the work there was always very hard work, but their pay and benefits were very good. Many of my friends there had been there as long as me, so they were like family. For all the moaning some do about how big companies do people dirty, I never found that to be the case, and Michelin Tire company is a very big company.

[Thomas_Thumb]

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@Anonymous wrote:

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@Thomas_Thumb wrote:

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Fico scores are affected by churning of credit card accounts. They are not affected by churning of checking accounts.

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It was stated above though that one must take a HP to open a checking account at one CU, so I imagine that could be the case elsewhere as well.  That being said, HPs can of course impact FICO scores.

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Although Fico scores are minimally impacted by a few HPs, they do not consider checking accounts as credit accounts nor do they look at debit cards or savings accounts. These accounts do not show up on one's credit file and do not factor into Fico scoring attributes.

Conversely, ChexSystems looks at recent openings AND closures of checking accounts as a fraud indicator. On going behavior of this nature can result in widespread denial of new checking or even saving accounts. Frequent address changes are also a red flag.

[sarge12]

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@Thomas_Thumb wrote:

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@Anonymous wrote:

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@Thomas_Thumb wrote:

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Fico scores are affected by churning of credit card accounts. They are not affected by churning of checking accounts.

---

It was stated above though that one must take a HP to open a checking account at one CU, so I imagine that could be the case elsewhere as well.  That being said, HPs can of course impact FICO scores.

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Although Fico scores are minimally impacted by a few HPs, they do not consider checking accounts as credit accounts nor do they look at debit cards or savings accounts. These accounts do not show up on one's credit file and do not factor into Fico scoring attributes.

Conversely, ChexSystems looks at recent openings AND closures of checking accounts as a fraud indicator. On going behavior of this nature can result in widespread denial of new checking or even saving accounts. Frequent address changes are also a red flag.

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I agree, but what I would love to know is why does some credit unions do a hard pull to open a checking or savings account? I know Langley did when I joined. In addition to that, they provide a free monthly equifax fico 08 score. It seems they could have just done a soft pull. The only reason I joined was the equifax score was the only fico 08 that was not provided by any of my accounts.

[gh17]

up to 862 on my citi equifax fico.  i haven't been managing which cards show balances at the end of the month so generally they all do.  one of these days i want to let only one show a balance and see if that gives much of a score boost, out of curiosity.

[Anonymous]

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@gh17 wrote:

up to 862 on my citi equifax fico.  i haven't been managing which cards show balances at the end of the month so generally they all do.  one of these days i want to let only one show a balance and see if that gives much of a score boost, out of curiosity.

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You're probably looking at about 20 points.  My EQ BCE 8 score from Citi is very close to yours at 863 and that's with all of my accounts (8 of 8) with balances reported.  Last time I was at just 2 of 8 (1 revolver, 1 installment loan) accounts with non-zero reported balances my BCE 8 score was 884.

[LilyBee]

Hello: I haven't been on here for quite awhile since my computer crashed. My how things have changed on this forum.

I haven't checked MYFICO scores lately, but my credit cards that provide FICO scores are all 850 across the board. Guess I'm still doing okay. I will do the MYFICO thing again for a 'legitimate' score one of these days. Glad to see you all are still hanging in there.

Cheers.

[Anonymous]

All FICO scores are "legitimate" so nothing you get from MF is going to be "better" or more "legitmate" than what you're seeing from your CCCs that provide FICO scores.  If you're seeing 850's across the board as you say, those are FICO scores, as no one I know has ever reported an 850 VS 3.0 score... typically 839-840 is the highest there, so IMO your 850 references are indeed of the FICO variety and are therefore legitimately relevant scores.