Is an 850 FICO even possible? (1 Viewer)

[louBdub]

Greetings PCF,

Hitting an 850 has been a lifelong goal of mine, but I’m just not there. I’ve hit 843 and I’ve just ran outta steam.

I know there’s a rather large variation of algorithms and programs to compute a credit score. You literally have like 20 of them, depending on what you pull.

However, it seems no matter what I do I just can’t seem to hit it. Anyone here ever hit the 850? Care to share? Any tips?

 

[JustDave]

Why bother? Over certain values it doesn't matter.

 

[The_dude]

https://www.fico.com/blogs/perfect-credit-score-understanding-850-fico-score

 

[louBdub]

Why bother? Over certain values it doesn't matter.

Well, I set the the goal almost 20 yrs ago. Im just trying to accomplish it, and I’m sooooo close.

 

[FDLmold]

Can't help you, my friend. I'm still working on 650 myself.

 

[buffalojim]

I have an 803. Wanna loan me 100K?

 

[Rhodeman77]

Yes it is. Last month was 850, this month 849. It moves a point or two on a regular basis.

 

[JustDave]

Yes it is. Last month was 850, this month 849. It moves a point or two on a regular basis.

View attachment 977010

you should call them up and complain about defaming you for lowering it 1 point.

 

[Boother36]

I was told by FICO, to raise my score even higher, all I need to do is borrow more money (I'm currently debt free) and borrow from more places........something is a tad bit askew..........

 

[louBdub]

Yes it is. Last month was 850, this month 849. It moves a point or two on a regular basis.

View attachment 977010

That’s the thing, it’s like a damn carrot and I just don’t get to taste it haha.

Care to share any tips? I own both my cars, I don’t have inquiries, I own one of two houses, I literally pay off all credit cards each month.

What am I missing?!? Down forward back back A B A B select!!!???

 

[JustDave]

I was told by FICO, to raise my score even higher, all I need to do is borrow more money (I'm currently debt free) and borrow from more places........something is a tad bit askew..........

You can't have a proven history of paying a loan back if you don't have a loan.

 

[johnjohn]

mine was 850 for 2 straight months in fall 2021. 843 now.

 

[joeyshin]

Mine was 643 in nov 2019. This month it’s 789. It might be higher if I didn’t buy chips

 

[RichMahogany]

What am I missing?!? Down forward back back A B A B select!!!???

Ooh close.

Up, down, up, down, left, right, left, right, B, A, B, A, start

 

[Rhodeman77]

You can't have a proven history of paying a loan back if you don't have a loan.

I was told a lot of different thing by different people. But I have found only having 2 credit cards I use. They both have high limits but I don’t charge much each month (always paid off) so it shows a very low evolving amount of possible credit being used. And those 2 cards I have had for many years. The only loan we have is our mortgage.

That is about all I got.

Good luck getting it to where you want it.

 

[doublebooyah85]

I’ve seen thousands and thousands of real credit scores. Not just the free models…and the highest score I’ve ever seen was 898.

However, depending on the lender, and to qualify for their best rate, top tier, I’ve seen scores as low as 660 be approved, and the highest minimum credit score required for the best rates from a certain bank has been 740. Of course it’s not only score. Also monthly income/debt ratio.

Once you hit 760-790, you really don’t need to go any higher other than it gives you a larger margin of error if you miss a payment or want to open more lines of credit.

Source; finance manager at an auto dealership for 5 years.

 

[doublebooyah85]

I was told by FICO, to raise my score even higher, all I need to do is borrow more money (I'm currently debt free) and borrow from more places........something is a tad bit askew..........

More loans/lines of credit and making payments while keeping balances low improves your credit score.

The only way to improve your credit score, is taking on debt and paying it.

 

[doublebooyah85]

I have an 803. Wanna loan me 100K?

At what rate and terms lol. Any collateral? I would assume an unsecured personal loan @ $100k w/ minimal debt and 760+ score would be around 8-9% for 4-6 years.

 

[buffalojim]

At what rate and terms lol. Any collateral? I would assume an unsecured personal loan @ $100k assuming minimal debt with 760+ score would be around 8-9% for 4-6 years.

Yes!

 

[raynmanas]

Up, down, up, down, left, right, left, right, B, A, B, A, start

You must be rusty! It's:

Up, up, down, down, left, right, left, right, B, A, [select], start

 

[rowlin]

Nice work on your score and good luck with the quest for 850. The myFICO forums have a bunch of helpful and worthwhile threads/discussions about this topic.

 

[RichMahogany]

You must be rusty! It's:

Up, up, down, down, left, right, left, right, B, A, [select], start

Lol might be! It’s been a while

 

[HaRDHouSeiNC]

A FICO score just means you’ve had lots of credit and paid lots of interest

So you can get more loans and pay more interest

You could be a multimillionaire and a zero credit score

 

[louBdub]

Nice work on your score and good luck with the quest for 850. The myFICO forums have a bunch of helpful and worthwhile threads/discussions about this topic.

Thx and I’ve been there long ago, was definitely part of the “credit gardening” circle in my mid to late 20s.

That forum is very much like this one, except instead of some dude buying some boat chips, it was another dude talking about his new CC.

I think the most reoccurring trend I’ve found is length of credit history. I’ve crossed all bridges, checked all boxes but I’m just not old enough I guess. Maybe I’m wrong. Maybe.

Im about to turn 38, maybe it’s about to hit a magic number in the matrix and I got bloop to 850….

@Rhodeman77 & @johnjohn - care to share your age? This might be the one thing I have yet to hit, length of credit age.

 

[louBdub]

A FICO score just means you’ve had lots of credit and paid lots of interest

So you can get more loans and pay more interest

You could be a multimillionaire and a zero credit score

This isn’t necessarily true, but I can understand why it could be perceived as such.

It’s just a personal goal of mine is all.

 

[Machine]

Yes it is. Last month was 850, this month 849. It moves a point or two on a regular basis.

View attachment 977010

7% is the magic number, its very important to maintain it.

 

[doublebooyah85]

Thx and I’ve been there long ago, was definitely part of the “credit gardening” circle in my mid to late 20s.

That forum is very much like this one, except instead of some dude buying some boat chips, it was another dude talking about his new CC.

I think the most reoccurring trend I’ve found is length of credit history. I’ve crossed all bridges, checked all boxes but I’m just not old enough I guess. Maybe I’m wrong. Maybe.

Im about to turn 38, maybe it’s about to hit a magic number in the matrix and I got bloop to 850….

@Rhodeman77 & @johnjohn - care to share your age? This might be the one thing I have yet to hit, length of credit age.

What’s your oldest credit card?

 

[louBdub]

7% is the magic number, its very important to maintain it.

This is the type of replies I’m looking for. Thx.

Do you have any insight why it’s 7%

Algorithm wise? I float between 5-9% on my report and it’s annoying, because they are paid in full monthly.

I make all large purchases on my AMEX for the most part, and they all float in the monthly report no matter how I do it.

It’s almost as if I have to just not spend a thing for a month just to play their game…?

 

[pltrgyst]

..., I literally pay off all credit cards each month.

I haven't carried a credit card balance for about 40 years, yet every month, my credit rating rises or drops two to four points, depending on what they think my "balances" are. A lot of their rating principles are pure bullshit, IMO.

 

[louBdub]

What’s your oldest credit card?

18yrs