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Score not capped at 790 with lates...

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Score not capped at 790 with lates...

Hey all, AllZero asked me to post this information on here.  I was in the rebuilding credit forum and saw AllZero posted this in a thread:

 

"@AllZero wrote:
I don't recall the exact number but FICO 8 is capped around 780-790 with a well aged 30 day late. It was discussed in the understanding fico forum. I'm not sure how it will be for your mortgage FICO 2,4,5.

That late will sting for a long time. Best to try the Good Will saturation technique."

 

I can attest that this is untrue.  As of today, my Experian FICO 8 score is 792.  I have two 60 day lates set to fall off in December of this year.  I had two school loans with one 60 day late on each.  My Experian FICO 8 has improved from about 648 to 792 since 07/14/2019 after having a couple medical collections removed and opening two credit cards.  I am unable to tell you exactly when these lates quit hurting as much as I'll admit I didn't pay too much attention to my score until this summer Smiley Indifferent  The two lates are the only deragotories left on Experian.  It was suggested that I try Early Exclusion next month with Experian as they do Early Exlusion at three months.

Message 1 of 29
28 REPLIES 28
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Valued Contributor

Re: Score not capped at 790 with lates...


@Cloudburst2000 wrote:

Hey all, AllZero asked me to post this information on here.  I was in the rebuilding credit forum and saw AllZero posted this in a thread:

 

"@AllZero wrote:
I don't recall the exact number but FICO 8 is capped around 780-790 with a well aged 30 day late. It was discussed in the understanding fico forum. I'm not sure how it will be for your mortgage FICO 2,4,5.

That late will sting for a long time. Best to try the Good Will saturation technique."

 

I can attest that this is untrue.  As of today, my Experian FICO 8 score is 792.  I have two 60 day lates set to fall off in December of this year.  I had two school loans with one 60 day late on each.  My Experian FICO 8 has improved from about 648 to 792 since 07/14/2019 after having a couple medical collections removed and opening two credit cards.  I am unable to tell you exactly when these lates quit hurting as much as I'll admit I didn't pay too much attention to my score until this summer Smiley Indifferent  The two lates are the only deragotories left on Experian.  It was suggested that I try Early Exclusion next month with Experian as they do Early Exlusion at three months.


Ok 780-790 and your are at 792, pretty close. Every profile is different and we all want to think we have a general idea of what goes into FICO scoring and we do know alot. But stating the above statement in untrue, maybe it is maybe it's not, but you can't base it on a 792😕

Message 2 of 29
Frequent Contributor

Re: Score not capped at 790 with lates...

Thanks for posting .

 

I'm trying to search for that thread topic. Only one I found so far was a FICO 8, 785 with a 90 day.

 

What month/year are the lates?

 

ETA. Can you share your (AAoA) Average Age of Account, (AoOA) Age of Oldiest Account, (AoYA) Age of Youngest Account?

Message 3 of 29
Regular Contributor

Re: Score not capped at 790 with lates...


@AllZero wrote:

Thanks for posting .

 

I'm trying to search for that thread topic. Only one I found so far was a FICO 8, 785 with a 90 day.

 

What month/year are the lates?

 

ETA. Can you share your (AAoA) Average Age of Account, (AoOA) Age of Oldiest Account, (AoYA) Age of Youngest Account?


The two lates are both from 12/2012.  There is one 60 day late each on two different school loans

 

AAoA: 10 years 9 months

AoOA: 20 years 3 months

AoYA: 0 years 0 months (just opened two new CCs)

 

I will try Early Exclusion in September and see how much this increases my score, and post the score increase here.

Message 4 of 29
Frequent Contributor

Re: Score not capped at 790 with lates...

Thanks for the data points.

I'm not sure if Experian will be open on Monday. Good luck on the phone call on Tuesday!
Message 5 of 29
Regular Contributor

Re: Score not capped at 790 with lates...


@Jnbmom wrote:

@Cloudburst2000 wrote:

Hey all, AllZero asked me to post this information on here.  I was in the rebuilding credit forum and saw AllZero posted this in a thread:

 

"@AllZero wrote:
I don't recall the exact number but FICO 8 is capped around 780-790 with a well aged 30 day late. It was discussed in the understanding fico forum. I'm not sure how it will be for your mortgage FICO 2,4,5.

That late will sting for a long time. Best to try the Good Will saturation technique."

 

I can attest that this is untrue.  As of today, my Experian FICO 8 score is 792.  I have two 60 day lates set to fall off in December of this year.  I had two school loans with one 60 day late on each.  My Experian FICO 8 has improved from about 648 to 792 since 07/14/2019 after having a couple medical collections removed and opening two credit cards.  I am unable to tell you exactly when these lates quit hurting as much as I'll admit I didn't pay too much attention to my score until this summer Smiley Indifferent  The two lates are the only deragotories left on Experian.  It was suggested that I try Early Exclusion next month with Experian as they do Early Exlusion at three months.


Ok 780-790 and your are at 792, pretty close. Every profile is different and we all want to think we have a general idea of what goes into FICO scoring and we do know alot. But stating the above statement in untrue, maybe it is maybe it's not, but you can't base it on a 792😕

AllZero had said that the cap of 780-790 had basically been presented before as basically an absolute.  He simply asked me to present that it is not an absolute score cap.  I have not one but two 60 day lates and my score is above 790.  He wanted the data available for the posters who collect such data to show that the 780-790 cap is not absolute. I think what is helping me is my credit history length which Experain lists as Exceptional.  Payment History, Amount of Debt, and Credit Mix are listed as 'Very Good' while Amount of New Credit is 'Fair'.  I believe my score would be even higher if I had already had three credit cards instead of opening two new ones this past month.  If I had already had three opened credit cards with a longer AAoA, I think my score would very well be into the 800s even with the two 60 day lates.

Message 6 of 29
Frequent Contributor

Re: Score not capped at 790 with lates...

@Cloudburst2000


How many open revolving credit cards to you have, 2?

 

How many open installment loan(s) (car loan, student, mortgage, etc.) do you have?

 

If you have open installment loan(s), what is the installment utilization %?

Message 7 of 29
Regular Contributor

Re: Score not capped at 790 with lates...

 


@AllZero wrote:

@Cloudburst2000


How many open revolving credit cards to you have, 2?

 

How many open installment loan(s) (car loan, student, mortgage, etc.) do you have?

 

If you have open installment loan(s), what is the installment utilization %?


- I have three open revolving accounts.  Three credit cards (two of which were opened in the last month).  All in good standing. No derogatories.

- I have three closed revolving accounts.  All in good standing.  No derogatories.

- I have three installment loans. One car loan in good standing,  No derogatories.  Two school loans.  Each school loan has one 60 day late from 12/2012.

- I have one closed installment loan.  A car loan in good standing.  No derogatories.

- I also forgot to mention that I did Experian Boost.  I have four accounts reporting here (two wireless, two utilities).  Perhaps this is why I have a higher score?  I had forgotten I did the Boost thing.  All four accounts are listed as in good standing.  No deroagatories.  I do think this helped improve my credit mix as I have no mortgages and relatively few open revolving accounts.

 

Message 8 of 29
Frequent Contributor

Re: Score not capped at 790 with lates...


@Cloudburst2000 wrote:


- I have three open revolving accounts.  Three credit cards (two of which were opened in the last month).  All in good standing. No derogatories.

- I have three installment loans. One car loan in good standing,  No derogatories.  Two school loans.  Each school loan has one 60 day late from 12/2012.

- I also forgot to mention that I did Experian Boost.  I have four accounts reporting here (two wireless, two utilities).  Perhaps this is why I have a higher score?  I had forgotten I did the Boost thing.  All four accounts are listed as in good standing.  No deroagatories.  I do think this helped improve my credit mix as I have no mortgages and relatively few open revolving accounts.

 


Once you have all 3 open revolving credit card accounts reporting, you should see a FICO boost if you are implementing AZEO. How many points, I do not know.

 

What about the open installment loans, do you know the aggregate / individual utilization %?

 

I don't know the specifics being on a derogatory scorecard and reaching 800. You have definitely met the minimum thresholds for AAoA, AoOA. For AoYA at 0, on a clean scorecard, I was able to obtain FICO TU8 801.

 

From reading BrutalBodyShots' "Lowest AoOA with an 850 score? "

850 requirements: AoOA in the 15-17 year range, AAoA of 7+ years is more or less assumed as a starting point.

If I recall correctly; AoYA >12 months.

 

With that said, you have the credit profile to get to 850.

Message 9 of 29
Super Contributor

Re: Score not capped at 790 with lates...


@AllZero wrote:

Only one I found so far was a FICO 8, 785 with a 90 day.

 


Do you have a link to that thread?  I personally have not seen a 785 Fico 8 score with the presence of a major delinquency.  Minor yes, but not a major.  I've always understood the presence of a major to seemingly cap scores somewhere around the 770-775 range.  With a single 90 day on my report I could never get higher than a TU score of 768, for example and for the most part the rest of my profile was optimized (ideal utilization, age of accounts factors solid, few to no inquiries, etc).

Message 10 of 29
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