PERFECT credit mix??

[Stugotsv10]

I'm eyeing 850 here (you know bragging rights only lol)

Im at 837 right now.. Average age is over 22 years, below 1% UTL on all cards,  tons of available credit, no card is newer then 6 years (and thats only 1) 1 auto loan for my active installment, rent as a tradeline.... what would I need to do to get to that magic 850?

I read ona  Fake site that my account mix is a B, because I have no student loan or mortgage, is that a thing or is my one installment (auto) enough?

I have over 21 accounts (back when I believed Credit Karma when they said thats needed lol)   

0 inquiries in the past 18 months but 2 in the past 2 years.

[SouthJamaica]

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@Stugotsv10 wrote:

I'm eyeing 850 here (you know bragging rights only lol)

Im at 837 right now.. Average age is over 22 years, below 1% UTL on all cards,  tons of available credit, no card is newer then 6 years (and thats only 1) 1 auto loan for my active installment, rent as a tradeline.... what would I need to do to get to that magic 850?

I read ona  Fake site that my account mix is a B, because I have no student loan or mortgage, is that a thing or is my one installment (auto) enough?

I have over 21 accounts (back when I believed Credit Karma when they said thats needed lol)   

0 inquiries in the past 18 months but 2 in the past 2 years.

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Sounds to me like you could be there any day. No you don't need a student loan or mortgage. Yes your auto loan is enough.

Without knowing more about your present situation, the only things I can think of to check for an optimization tuneup are:

1. Is your auto loan paid down to 9% or less of the original amount? (Once it's down to 9% or less you get a boost in FICO 8).

2. Are you letting only one or a few of your cards report balances? (Best to have a lot of the cards reporting zero balance with just one or a few reporting a small balance)

[Stugotsv10]

3 cards report balances (super small like under $50)

auto loan is not below 9% no

[Anonymous]

First step is to have exactly one credit card reporting a small balance ($50 in your case is fine).  That will give you a baseline of what you can achieve without paying the loan down further.

Can you tell us the balance on the loan now and what the original loan amount was?  Also when the loan was opened?

[Anonymous]

You mention that you may be using Credit Karma.  Is that where you are getting your Average Age of Accounts?  If so, I'd disregard that.  Karma's age calculator (on its front end summary page) is wrong and does not reflect how FICO (or even Vantage) actually work.

You mention that you have over 21 accounts and that your Average Age of Accounts is 22 years.  That's extremely rare.  It would mean that most of your 21+ accounts were opened two decades ago.  Are you sure that it is your Average Age of Accounts that is 22 -- and not the Age of Oldest Account?  Both are important factors, but they are very different.  A person with an Age of Oldest of 25 would tend to have an AAoA of 10 or 12, for example.

[Stugotsv10]

51% paid down... balance is like $10,100 opened roughly 3 years ago

[Anonymous]

Thanks! 

PS.  See my question above about AAoA.

[Stugotsv10]

yes thats correct, most of my cards are very very old 10+ years on all but 1

[Anonymous]

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@Stugotsv10 wrote:

yes thats correct, most of my cards are very very old 10+ years on all but 1

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If your AAoA was actually 22, then most of your accounts would likely be closer to 20 years old.  Is that the case?  (Possible exception would be if you had half a dozen cards that were 50 years old.  Then you could have the remaining accounts showing an age of 11-13 years of age.)

I'd suggest looking at a full report (not the summary page) and looking at each account to determine its age.  Doesn't have to be precise, the year alone is fine.

And again, using the full report, determine what your oldest account is and what its age is.

What tool have you been using to determine your AAoA?

[Stugotsv10]

I have several over 50 years, a bunch over 40, some in the 30's, couple capital ones in the 20's