Score low and risk high apparently....

[donkort]

^ And you've been in the 800 club for 1 1/2 years now!

Kudos for you!

None of my FICO 8 scores are in the 800s----but 17 out of 28 of my scores are in the 800s. 

[Anonymous]

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@Anonymous wrote:

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@donkort wrote:

Take heart.....credit cards aren't rushing to have me as a client, either......

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I'm in the 800 club and I don't get any credit card pre-approvals or solicitations either. My wife is also in the 800 club and she gets tons of them. There is no rhyme or reason to it, and NO, I have not opted out of anything nor do I have any blocks or holds on my credit files.

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They probably see you as unprofitable. Getting your scores means you understand how it all works. They know that beyond swipe fees you're unlikely to generate any money for them. You'd likely still be approved for anything you want (salary permitting), because swipe fees are still money coming in and you're as unlikely to default as one can be. They just aren't going to chase you for business since those swipe fees are all they're likely to earn off of you.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@donkort wrote:

Take heart.....credit cards aren't rushing to have me as a client, either......

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I'm in the 800 club and I don't get any credit card pre-approvals or solicitations either. My wife is also in the 800 club and she gets tons of them. There is no rhyme or reason to it, and NO, I have not opted out of anything nor do I have any blocks or holds on my credit files.

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They probably see you as unprofitable. Getting your scores means you understand how it all works. They know that beyond swipe fees you're unlikely to generate any money for them. You'd likely still be approved for anything you want (salary permitting), because swipe fees are still money coming in and you're as unlikely to default as one can be. They just aren't going to chase you for business since those swipe fees are all they're likely to earn off of you.

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If they don't chase me for business they won't even get the swipe fees.

[Anonymous]

Guess that's the risk they take. Seems like with the ever-increasing aggregate CC debt in the nation, having super-prime borrowers would never be a bad idea to offset the invariable losses from the lowest tiers.

[Anonymous]

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@Anonymous wrote:

Guess that's the risk they take. Seems like with the ever-increasing aggregate CC debt in the nation, having super-prime borrowers would never be a bad idea to offset the invariable losses from the lowest tiers.

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Now that I have all the CCs I will ever need (Amex Delta Platinum CL $24K, Amex Everyday CL $10K, Chase Amazon CL$8K and Citi DoubleCash CL 10K) and $52K in lines between them, if they don't ask, I'm not about to app. My mortgage will be paid off in 2 more months and my one installment loan 6 monrths after that. With an income that exceeds $100K and $50K in cash with $50K in lines after that, I can walk around feeling they need me a lot more than I need them.

[Anonymous]

That's a great position to be in

[Anonymous]

@KeithW You really need not be a math whiz to figure this one out. FICO runs from what? 300-850? 550 points?

30% of 550 is 165

Now lets assume perfect payment history, credit mix, ages and no new credit. 850-165= what? 685. That's assuming all else was perfect; it's not.

Add in a 30 day late from payment history, ~50 points, let's see...635? no, definitely does not take a whiz to see utilization + baddie kills score.

[Anonymous]

Add in the other lack of optimizations and its easy to see 640. Cuz obviously you are not losing every utilization point, tho most.

Not trying to sound harsh, but we don't profess to be whizzes. On the contrary, we simply study this hardcore so we know why it works and how it works.

[KeithW]

I have since paid my aggregate util down to 31% and all of my cards are under 47% except for my wife's 2, which I am an authorized user on. They are at 80%. Not all have updated, but my scores are now around 685. 

[Anonymous]

Congratulations nice job! You’ll see some more gains when you get the 80s under 69% and the aggregate under 29%, I believe.