@AllZero wrote:
Congratulations on your success!
Thank you, AllZero!
@LilyBee wrote:Haven't been here in awhile, but checked out my TU score, that last dunned my scores when I opened a new account in Mar. 2019. They said it would be dunned for two years, which sent me raving mad. This is what was shown today:
Credit score: 850
Credit rating is EXCEPTIONAL
Fico Score As of 2/19/2020. Updated monthly by
FICO® Score History
Credit score
Month
838
MAR, 2019
847
APR, 2019
850
MAY, 2019
850
JUN, 2019
838
JUL, 2019
838
AUG, 2019
850
SEP, 2019
838
OCT, 2019
838
NOV, 2019
838
DEC, 2019
838
JAN, 2020
850
FEB, 2020
Congratulations!
You have the highest FICO® Score possible. You are doing an excellent job managing your credit.
I think the above 850 scores in May, June, and Sept. were posted by one of the other FICO agencies that felt that my good record did not 'deserve' to be penalized. [Or whatever.
The inquerie will show on a report for 2 years, but only has a scoring effect for 1 year. Whoever the they was that told you it would be dunned for 2 years lacked knowledge. Having inqueries on the report for 2 years might affect a chase app due to their 5/25 rules, but inquiries over a year old will not harm scores, period. It might have an adverse affect on AAoA that could drop scores, but the inquerie itself will not.
Hi Sarge:
Long time no see you. Thanks for the reply. You may be correct about the lack of knowledge by a probable 'groundling' at TU who told me about the two-year penalty for opening a new account. It did cause some consternation since the other two creditors seemed to follow TU's guidance and also lowered my scores for awhile. All's okay again since all three scores are at 850; or at least all my credit cards that report FICO scores are at 850.
Finally made it to 800 last month! Now just have to keep these up while I work on that pesky Experian!
Utilization is around 8%, so will likely need to get it closer to 2-3% for EX to get to 800. Fun challenge!
@alma_socal wrote:Finally made it to 800 last month! Now just have to keep these up while I work on that pesky Experian!
Utilization is around 8%, so will likely need to get it closer to 2-3% for EX to get to 800. Fun challenge!
Congrats and welcome to the '800 club'! It's a lot easier to stay here than to get here. Just keep plodding along cautiously, pay on time, use your credit but don't take on a lot of new accounts or inquiries at one time. Most importantly, enjoy your new status and the privileges it offers, such as lower APRs and better credit cards and terms!
@Anonymous wrote:I think one thing people lose track of is that it takes a lot of time to get a high score.According to the FICO data, a High Achiever opened his/her first revolving account 19 years ago (and that's the average). Twenty years is a loooooooong time to build a credit history.And you have to pay consistently on time. According to the same data, virtually none of the High Achievers have a 60 day late, and the very few of them with a single 30 day late got it at least 4 years ago. That means that the vast majority of them have never paid late. Ever.The problem is that people are impatient. Seems a lot of people file BK and then wonder why they can't get a good mortgage 6 months later. A mortgage is usually a 30-year commitment. The bank needs to be comfortable that you're going to hold up your end of the bargain for that long.
Well said @Anonymous,
I looked back on prior scores - one of the benefits of both MyFICO and Experian. Looking back provides needed perspective as you make that journey.
4 years ago, my scores were below 700, total CLs were <$40K. I had an old hospital bill with errors that took 1 year to get the record straight.
I was meticulous on record keeping. That helped. Once that matter was resolved, my scores jumped 100 points.
Today, my scores are in the 800s, and my total CLs are nearly 400K. That would not have without the guidance and wisdom I learned from members like you on these boards.
Many, many, many thanks.
