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I've been looking back at the progress I've made in the last couple of years. In that space of time, I've opened 9 new credit cards, paid down student debt, and opened a new home mortgage. Here's my FICO 8 chart from Jan 18 through Feb 20:
Jan 18: EQ-763, TU-737, EX-716
May 18: EQ-792, TU-771, EX-751
In May of 18, I was fortunately able to finally pay my 4 student loans down to over 95% and now have no payments due until 2024. I let the balance remain because those 4 loans benefited my credit mix, AAoA, and having been paid down past several thresholds, gave me significant score bumps which you can see in the spike there.
In August of 19, I bought a house as planed, had taken several mortgage inquiries, and was expecting a natural score drop once my new mortgage reported. I was surprised when no significant drop came. I think that expected drop was blunted by having 4 student loans paid down so low. So, 4 out of 5 non-revolving loans being paid down over 95%, even with my new high mortgage balance, seemed to really prevent my scores from taking a hit.
I applied and was approved for two new cards in February this year, one of which is already reporting to EX and EQ.
My F8 scores at the beginning Feb:
EQ-816, TU-847, EX-810
At the end of Feb after 2 new inqs and 1 new account reporting (except to TU):
EQ-793, TU-814, EX-782
Before the new accounts, my AAoA for TU and EQ was 4 years 7 months. With the first new account reporting they go to 4y3m. However my EX went from 3y7m to 3y1m. Perhaps a similar decrease when the second card hits.
I'm happy to add any other data points that might be interesting. Just thought I'd share while looking back over this time.
Happy Monday ☀️
[Thanks everyone!]
You're doing pretty darn good : - )
Congratulations on your success! Impressive scores 👍
Thanks! It's been really helpful getting advice from this forum.
Here's a look at my mortgage scores over the same period of time compared to F8 scores below. It's crazy how differently they behave:
Mortgage--
FICO8---
Well done OP .. Congratulations!