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Youngest age where 850 has been achieved?

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Valued Contributor

Re: Youngest age where 850 has been achieved?

I think that an 850 can be reached in about 10 years.

 

I didn't use any credit for many years so my oldest account on my report is a credit card from 4/1/12 or about 6 years ago. (BTW, when my oldest credit card turned 6 years old last month, I saw an increase of 40 to 50 points depending on which credit bureau. I think the 6 year age of oldest account could be a milestone.)

 

My report looks like this:

 

  • 10 credit cards, oldest 6 years, UTI 15%, 3 credit cards are 15 months old.
  • Mortgage that is 15 months old.
  • 60 month auto loan that is 22 months old.
  • 2 closed SSLs (Alliant)
  • 1 closed credit card (Walmart store card converted to a a Walmart MC)

 

My credit building had been held back because of 3 tax liens that were eventually removed in the summer of 2016. My reports are now 100% spotlessly clean. Total CL of my 10 credit cards is $124K. Smallest CL is a Chase Freedom at $5K.

 

INQ vary from 2 to 6 across the CRAs.

 

My AAoA is at 3.5 years.

 

You can see my current scores in my siggy. They are being held down because of my UTI and move by about 10 points for every 1% of UTI either up or down. If I did an AZEO right now, I think all my scores would be ~800 plus or minus a few points.

 

If I did absolutely nothing with my credit for the next 4 years except pay my bills, I think that I would have a good shot at 850 across the board.

 

4 years from now my credit would look like this:

 

  • My AAoA would be 7.5 years
  • 10 credit cards, oldest at 10 years, youngest at 5 years 3 months
  • Mortgage paid on for 5 years 3 months
  • Closed auto loan
  • 2 Closed SSLs
  • 1 Closed CC

 

Right now I think that my scores are taking a hit because I have a mortgage, auto loan and 3 credit cards that are less than 2 years old. A few times in the past, I have seen a bump when my youngest account aged past 2 years.

 

Your thoughts? Do you think I have a chance of 850 in 4 years?

 

 


Starting Score: EQ 653 6/21/12
Current Score: EQ 817 7/10/19 - EX 802 7/13/19 - TU 815 6/03/19
Message 11 of 62
Super Contributor

Re: Youngest age where 850 has been achieved?

I don't believe that you'd be able to achieve an 850 score within the next 4 years with an AoOA of 10 years.  I'd really like to hear some AoOA data points though from those that have hit 850, since guesstimates on this seem to run from roughly 10 years to 17 years if you read in this thread and throughout the forum.

 


@jamie123

I think that an 850 can be reached in about 10 years.

 (BTW, when my oldest credit card turned 6 years old last month, I saw an increase of 40 to 50 points depending on which credit bureau. I think the 6 year age of oldest account could be a milestone.)

 

 


I seriously doubt that your AoOA hitting 6 years impacted your scores 40-50 points.  I'm sure it could have helped some, but I strongly believe that something else was going on.  Even with potential score card reassignment, a 40-50 point gain seems like an impossibility IMO.  I'd like to hear other opinions on this, though.

Message 12 of 62
Valued Contributor

Re: Youngest age where 850 has been achieved?


@BrutalBodyShots wrote:

Yeah no doubt with AU accounts or a joint account AoOA could be artificially inflated.  That's why in the original post I referenced a straight up profile without any such accounts that could impact the age of accounts factors.


Fair enough, although I wouldn't necessarily call a "motivated" 13-14 year old opening a joint account to be "artificial score inflation" - just good long-term planning by a teenager.

 


@BrutalBodyShots wrote:

I'd like to hear from those that have hit 850 what their AoOA was at the time.  I don't think I've ever heard of one below 15 years.  That's not to say that there isn't one out there, but I do think finding an 850 with a 10 year AoOA or less is nearly impossible.  Hopefully we get some data points here.


Yup. This is definitely a "show me the data" situation - just a bit more difficult to pin down than most scenarios.

 


@BrutalBodyShots wrote:

As a sort of spinoff conversation here, it's worth noting the rapidly diminishing returns with respect to top-notch FICO scores.  For example, someone with < 1 year of credit history can hit a 750 score.  Someone with < 2 years of credit history can hit an 800 score.  So, say that's another year of history (or so) to grab the ~50 points to go from 750 to 800.  Then, from 2 years of credit history one is looking at essentially another decade, maybe 13 years in order to get those next/final 50 points to arrive at 850.


It's not like they would be stuck at 800, just waiting to hit 10 (or 15) years AoOA... they would see incremental improvements in that time.

 

When you look at it as a change of 1% or less in default-risk over that time, it makes more sense.

 

It's not like they would be denied anything in that time, based just on scores - but the older their reports get, the more "wiggle room" they have before dropping into another "tier".

 

EQ8:850 TU8:850 EX8:850
EQ9:850 TU9:850 EX9:850
EQ5:809 TU4:789 EX2:819 - 2019-09-06
Message 13 of 62
Regular Contributor

Re: Youngest age where 850 has been achieved?

I'm 34 and ill have it before I turn 34 more then likely 

Message 14 of 62
Valued Contributor

Re: Youngest age where 850 has been achieved?


@jamie123 wrote:

 

4 years from now my credit would look like this:

 

  • My AAoA would be 7.5 years
  • 10 credit cards, oldest at 10 years, youngest at 5 years 3 months
  • Mortgage paid on for 5 years 3 months
  • Closed auto loan
  • 2 Closed SSLs
  • 1 Closed CC

That's an almost-perfect test setup for this... except for the mortgage.

 

Is it a 15 or a 30? Either way, at only 5 years in, it will still have well over half of the original balance outstanding.

 

That by itself might be enough to keep you from 850 with only the potential AAoA and AoOA "minimums" for this test.

 

I do have a higher mortgage % balance than that, but also have higher account-age stats that may make up for it...

 


@jamie123 wrote:

 

Your thoughts? Do you think I have a chance of 850 in 4 years? 


Maybe? No doubt you'll have a very good score across the board in 4 years - certainly in the 800s.

 

Whether 850 is possible with that report is currently an open question - that you may be able to find the answer to.

 

Are you willing/able to not open new accounts for the new four years?

 

Are you willing/able to pay extra on the mortgage in four years if you don't quite reach 850, to determine the impact of installment balances vs account ages?

 

That's a bigger commitment in time (and perhaps money) than most simple scoring "tests" require - but if you decide to do it, I (and BBS, I'm sure), will be very interested in the results!

 

EQ8:850 TU8:850 EX8:850
EQ9:850 TU9:850 EX9:850
EQ5:809 TU4:789 EX2:819 - 2019-09-06
Message 15 of 62
Super Contributor

Re: Youngest age where 850 has been achieved?


@iv

Fair enough, although I wouldn't necessarily call a "motivated" 13-14 year old opening a joint account to be "artificial score inflation" - just good long-term planning by a teenager.


It's not like they would be stuck at 800, just waiting to hit 10 (or 15) years AoOA... they would see incremental improvements in that time.

 

When you look at it as a change of 1% or less in default-risk over that time, it makes more sense.

 


Agreed regarding the AU account thing, I'm just looking for data points on non-AU profiles.  Someone chimining in and saying they have an 850 score at Age 25 doesn't really mean much to me if/when it's the AU account that's allowing them to do so. 

 

I also understand that the 800 score would creep up slowly over a decade or longer to reach 850.  The point I was making here though is that the gain/year is significantly diminished when considering 800-850 verses 750-800, or any other 50 point range, really.  Good point regarding default risk though, so it definitely makes sense.

Message 16 of 62
Valued Contributor

Re: Youngest age where 850 has been achieved?

I might ride it out for the next 4 years to see if 850 is indeed possible for me or not. I'm not all wrapped up in the glory of having an 850 but if it happens it happens. Don't get me wrong, I would be doing the happy dance for sure but it is not all important!

 

The only other loan or credit that I see a need for in the future is perhaps another auto loan in 2 years but I'm not sure about that yet. Depends what interest rates are at the time. If interest rates are low, I like to keep my cash invested and earning more than I what I pay in interest on the loan. My current auto loan has an interest rate of 1.79% so it was a no brainer to put down a 35% down payment and take out a loan for the rest.

 

I'm now going to post a few things that show how my scores went up 40 to 50 points across all CRAs. The screenshots that I'm posting are from MyFICO. The first one shows my score history and how it jumped 46 points on 4/3/2018:

 

screenshot-secure.myfico.com-2018-05-27-01-04-43.png

 

The second screenshot shows the MyFICO alert for this score change. Have any of my fellow MyFICO members received an alert like this? It is not referencing anything to do with scoring, it is just telling me that my score changed and by a lot:

 

screenshot-secure.myfico.com-2018-05-27-01-20-13.png

 

The only thing that I can think of to cause this was my oldest credit card turned 6 years old on 4/1/2018. This made my oldest account 6 years old. My reports are spotlessly clean with about 15% UTI. Two cards have high balances because of 0% offers.

 

What else could have caused this?


Starting Score: EQ 653 6/21/12
Current Score: EQ 817 7/10/19 - EX 802 7/13/19 - TU 815 6/03/19
Message 17 of 62
Super Contributor

Re: Youngest age where 850 has been achieved?

Perhaps 6 years AoOA is a strong threshold point that rebucketed you.  Others may know for sure.  If your utilization stayed constant and you didn't have any negative informtion fall off, I would say this could be the only thing that influenced that score gain.

Message 18 of 62
Valued Contributor

Re: Youngest age where 850 has been achieved?

Yeah, if you look at the history chart you can see my scores were in the 600s because I had a UTI of about 34% because of 0% offers on another 2 cards. I paid those cards off in February and my scores went up 20 points. I have been coasting pretty much since February with everything on my reports staying pretty much the same and my UTI being 15% now. Only reason that I can think of for the spike in scores is my credit history aged to 6 years old. Might be something to keep an eye out for in other members scores to see if that could be a milestone.


Starting Score: EQ 653 6/21/12
Current Score: EQ 817 7/10/19 - EX 802 7/13/19 - TU 815 6/03/19
Message 19 of 62
Super Contributor

Re: Youngest age where 850 has been achieved?

Any plans to get that utilization down below 8.9%?  Doing so would likely land you another 20 points on your scores.

Message 20 of 62
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