Study: AAoA and max FICO score (Forum Survey)

[Anonymous]

I think it might be my inquiries and I noticed your experian score is low like mine too mine is 720

[Discover2016]

FICO 08 Score: 736
AAoA: 7 Months
Oldest Acount: 1y 5m
Youngest Account: 5 months
Utilization: 6% 
# 30-60 day lates <2 years: 0
# Derogs: 0
# Inquiries <1 year: 9
Bankruptcy (Y/N): N

[Anonymous]

Survey	Equifax	Transunion	Experian
Fico 08 Score	675	679	686
AAoA	4.8	4.8	4.8
Oldest Acount:	13.8	13.8	13.8
Youngest Account:	0.16	0.16	0.16
# 30-60 day lates <2 years:	0	0	0
# Derogs:	1	1	1
# Inquiries <1 year:	4	4	5
Bankruptcy (Y/N):	N	N	N

Additional:

Derog is 90 day late from 1/2010

EX simulator shows 15pt jump when AAoA reaches 5 yrs in 3 months.

[Anonymous]

Survey Blank:

FICO 08 Score: Equifax: 837, Transunion: 830, Experian: 828

AAoA: 9 Years

Oldest Acount: 15 Years

Youngest Account: 2 months

# 30-60 day lates <2 years: 0

# Derogs:  0

# Inquiries <1 year: 2 from a car loan inquiry

Bankruptcy (Y/N): N

[Involver]

Survey 

FICO 08 Score: 815

AAoA: 5.5

Oldest Acount : 20.9 

Youngest Account: 0.7

# 30-60 day lates <2 years: 0 

# Derogs: 0

# Inquiries <1 year: 0 

Bankruptcy (Y/N): N

Util: 2%

[iv]

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@olehammer wrote:
Hey CG! 740 may not be optimum for all credit products, but from a non-PMI mortgage it's the sweet spot. I believe that a 760+typically helps with best homeowners insurance premiums and PMI.

I would say for the average home buyer 740 is a good threshold that if you're close to it you can save thousands of you achieve it. I like to keep the $1000s in mind when I'm tempted by at 50k points offer or a higher % cash back on groceries.

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If your primary concern in looking at these stats is mortgage rates, then why are you collecting FICO 8 data?

Given how drastically different FICO 8 vs EX2/EQ5/TU4 can be... why not collect those instead for this analysis?

(Yeah, it's easier to collect FICO 8 data, given the multiple free or cheap ways to get it... but you need the relevant data, not the easy data - otherwise: https://en.wikipedia.org/wiki/Streetlight_effect )

[olehammer]

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@iv wrote:

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@olehammer wrote:
Hey CG! 740 may not be optimum for all credit products, but from a non-PMI mortgage it's the sweet spot. I believe that a 760+typically helps with best homeowners insurance premiums and PMI.

I would say for the average home buyer 740 is a good threshold that if you're close to it you can save thousands of you achieve it. I like to keep the $1000s in mind when I'm tempted by at 50k points offer or a higher % cash back on groceries.

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If your primary concern in looking at these stats is mortgage rates, then why are you collecting FICO 8 data?

Given how drastically different FICO 8 vs EX2/EQ5/TU4 can be... why not collect those instead for this analysis?

(Yeah, it's easier to collect FICO 8 data, given the multiple free or cheap ways to get it... but you need the relevant data, not the easy data - otherwise: https://en.wikipedia.org/wiki/Streetlight_effect )

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Noted.  And thanks for sharing your stats

I felt that several responess would be more helpful than the likely 2-3 I might get from folks with mortgage stores.   

[Anonymous]

Survey Blank:

FICO 08 Score: TU 784 Exp 771 Eq 754

AAoA: 3.8 yr.

Oldest Acount:  8.8 yr.

Youngest Account: .33 yr.

Utilization: 2%

# 30-60 day lates <2 years:  0

# Derogs:  0

# Inquiries <1 year: Eq 4 Exp 4 TU 2

Bankruptcy (Y/N): N

All three bureaus show same information can't figure out why Eq is 20-30 points below the others.

[Thomas_Thumb]

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@olehammer wrote:

Updated 2/12 13:30

Summary

• Maximums by AAoA: <1 year: 748, 1 year: 771, 2 year: 775, 3 year: No Data, 4 year: 825
• 675 lowest clean file impacted by Util of 37%. Data suggests potential for large score bump when brought below 9%.
• 800+ has required minimum AAoA of 4 years
• No "Dirty" reports have yet acheived >700, regardless of age.

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FYI - Posters with "Dirty" files have reported scores up to the low 750s 

Inverse had 2 CRA scores in the 740s and one at 752 or 753). Many other posters have reported scores in the 700 to 730 range with dirty files. Without going back to look for details, some posters that come to mind include CAPTOOL, Jamie123 and Revelate

[olehammer]

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@Thomas_Thumb wrote:

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@olehammer wrote:

Updated 2/12 13:30

Summary

• Maximums by AAoA: <1 year: 748, 1 year: 771, 2 year: 775, 3 year: No Data, 4 year: 825
• 675 lowest clean file impacted by Util of 37%. Data suggests potential for large score bump when brought below 9%.
• 800+ has required minimum AAoA of 4 years
• No "Dirty" reports have yet acheived >700, regardless of age.

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FYI - Posters with "Dirty" files have reported scores up to the low 750s 

Inverse had 2 CRA scores in the 740s and one at 752 or 753). Many other posters have reported scores in the 700 to 730 range with dirty files. Without going back to look for details, some posters that come to mind include CAPTOOL, Jamie123 and Revelate

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Hi Thomas.  Thank you for the other talking points. I appreciate your feedback and experience with respect to scores.  My commentary above is specific to the results of this survey only.  If those who have experienced the results that you mention share their stats here I'd be happy to include them.

I would expect those with a dirty file and scores in the mid 700's have significant positive influencers in the other categories (i.e. High AAoA, no new accounts, a paid down mortgage, etc).  Without their specific stats with respect to this survey they aren't relavent.