What DOES it take to reach 800? Age?

[jbh]

Hey,

Besides me having to sacrifice a chicken or the fico software to burp, what DOES it really take for one to hit 800? Let's say you have low util, the right mix of credit no baddies/etc...is it safe to assume that the fico scoring is smart enough to require a 20 year record at least?

I'm more fascinated by it more than anything. Just curious. Has there every been an 800 member that didn't have a 20 year history? The way fico works really fascinates me, to say the least.

[athensguy]

I doubt that you need a 20 year age to reach 800. You do need some age, perfect payments, low UTI, no new credit, and credit mix

[jbh]

I see. I know that when my car loan expires in 2012, I'll be in doody land with regards to age (average and longest will be 4-5 years and growing from that point)

If all things are equal and no other baddies/etc appear, I'd be curious to see what happens to my scores on that day. I'm guessing it won't go from 720 --> 804

So I realize, regardless of the needed age limit, I'm a ways away.

[athensguy]

I think you can get there with an average age around 5 if everything else is in place.

[jbh]

Interesting. I guess there is only one way to find out

TY

[marty56]

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athensguy wrote:
I think you can get there with an average age around 5 if everything else is in place.

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Someone at work has a score in the 800's.  I think she is 26.  She owns a home and lives well bellow her means. I dont know which CRA she had the 800+ score with though since she transfered to another office.

[athensguy]

I'm losing some overall UTI points, and a lot of individual UTI points with my 772. I have overall of 25% or so, and one card is at 75%. I think once I get those taken care of, I might be able to approach 800.

[marty56]

Try 1 CC reporting a balance of 1% - 9%

[athensguy]

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@marty56 wrote:

Try 1 CC reporting a balance of 1% - 9%

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Can I borrow 10K please?

[marty56]

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@athensguy wrote:

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@marty56 wrote:

Try 1 CC reporting a balance of 1% - 9%

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Can I borrow 10K please?

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I hear you.  Based on your util though I think your score would be over 800 if you could get your util there.