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Theoretical FICO max with CO

W261w261
Frequent Contributor

Theoretical FICO max with CO

My FICO 8 is around 740, and I've kind of run out of things to do to help it out. I practice AZEO, AAoA is 11, SSL at Navy, no other installment loans or mortgage,  8 cards (7 Rev, 1 charge), 2 INQ in past year that are about to age past 12 mos. But, I have a Cap1 CO that I paid off for less last Feb, plus a Merrick payment arrangement paid off a year ago (it went 120 a couple of times in 2019 before I set up the arrangement).

That's it for the black marks, except for a couple of isolated 30's maybe 4 years ago.

I know the CO is the biggie, and the 120's at Merrick aren't great either. (Entreaties to both for GW were smacked down).

So assuming I continue my current good behavior I assume my scores will gradually increase because the bad stuff will be aging away. But my file will remain "dirty" I assume which will keep me out of the highest tranche, and therefore there must be a theoretical maximum to my score before the CO disappears around 2025 sometime. Any idea what that max might be? Thx. 

Message 1 of 5
4 REPLIES 4
coldfusion
Community Leader
Super Contributor

Re: Theoretical FICO max with CO

This is a very long read but if you put in the effort it might help you come up with something that isn't just speculative.

 

  https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Credit-Scoring-Primer-pub-5-17-20/td-p/6...

(6/2022)
FICO 8 (EX) 830 (TU) 836 (EQ) 831
FICO 9 (EX) 849 (TU) 845 (EQ) 846

$1M+ club

Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion
Message 2 of 5
SouthJamaica
Mega Contributor

Re: Theoretical FICO max with CO


@W261w261 wrote:

My FICO 8 is around 740, and I've kind of run out of things to do to help it out. I practice AZEO, AAoA is 11, SSL at Navy, no other installment loans or mortgage,  8 cards (7 Rev, 1 charge), 2 INQ in past year that are about to age past 12 mos. But, I have a Cap1 CO that I paid off for less last Feb, plus a Merrick payment arrangement paid off a year ago (it went 120 a couple of times in 2019 before I set up the arrangement).

That's it for the black marks, except for a couple of isolated 30's maybe 4 years ago.

I know the CO is the biggie, and the 120's at Merrick aren't great either. (Entreaties to both for GW were smacked down).

So assuming I continue my current good behavior I assume my scores will gradually increase because the bad stuff will be aging away. But my file will remain "dirty" I assume which will keep me out of the highest tranche, and therefore there must be a theoretical maximum to my score before the CO disappears around 2025 sometime. Any idea what that max might be? Thx. 


Making sure your inquiries are gone, and that your SSL is at 9% or less, you should be near your maximum until you move on to the next scorecard.

 

The maximum depends on which scorecard you're on.  Here's an interesting post on scorecards. I'm not sure if the maximum score for each scorecard is known, or is proprietary.


Total revolving limits 689000 (587000 reporting) FICO 8: EQ 718 TU 721 EX 698

Message 3 of 5
W261w261
Frequent Contributor

Re: Theoretical FICO max with CO

Thanks to both of you for pointing to these great posts. Looks like I'm in the next to the top dirty scorecard - I have no public records. My Merrick shows no lates within 24 mos, so that leaves the CO, paid 2/21/21.

Two things - am I correct in assuming (if I don't mess up) that I will be in a dirty scorecard (albeit probably the top one) until my CO goes off in 2025? And second, when some of the illustrations say "recent," is that ~2 years?

 

Looks to me that an angel with a CO is destined to never fly above 780.

 

Thx

 

 

 

Thx

Message 4 of 5
MasonK
Frequent Contributor

Re: Theoretical FICO max with CO


@W261w261 wrote:

Looks to me that an angel with a CO is destined to never fly above 780.


 I'm about to shed my last student loan lates and my EQ and TU are at 740 and 761; EX went from 713 to 795 when it went all clear. So yeah, I'd say the data points are holding.

1/1/16 FICO8 Scores: EX: 407, EQ: 403, TU: 455
6/1/22 FICO8 Scores: EX: 811, EQ: 745, TU: 807
FICO9 EX: 816

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