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Is an 850 FICO even possible? (1 Viewer)
- Thread starter louBdub
- Start date
You just need a tax id# and to know your annual revenue. I would recommend chase ink. Great point system and points can transfer right over to ur personal chase account.
Sometimes it takes 3-7 days for approval.
If you get denied, google the reconsideration phone # and you can call them to overturn it.
The entire credit system is a bit of scam.
The companies themselves and the banks don’t care if the data is correct, in fact, more errors = lower scores = higher rates = more money for lenders to make.
Plus there was this disaster just a few weeks ago…
The companies themselves and the banks don’t care if the data is correct, in fact, more errors = lower scores = higher rates = more money for lenders to make.
Plus there was this disaster just a few weeks ago…
I haven’t really checked my scores for a while so I got curious. Apparently it is possible but for some reason my score dipped down this past month. I didn’t really have any pattern changes on our spending in July that comes to mind
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louBdub
Full House
I 100% acknowledge the shit system. I’m just playing a game, and want to accomplish my high score. I like having goals, and when set, they MUST be completed. Right?
I’ve done ALL of the correct moves, yet I apparently won’t get my 850 because some magic reason I haven’t figured out yet.
Thanks for the encouragement, I shall continue my quest!
joepro
Flush
This is what makes the FICO score system such a joke, also the reason I don’t do auto deductions but rather I send the amount due each month. I paid several mortgages, loans, credit cards and bills on time, but I make one mistake and I’m now a credit risk? So annoying!
It’s not so much the type of business you have, but whether the card you apply for reports to credit bureaus on your personal report. I think it would not be too difficult to find this out, but if you do not have an EIN (business tax ssn) you should apply for one, and fill out the credit app form as a business. You still need to give them your personal ssn and info, but some report and some do not.
HaRDHouSeiNC
Straight Flush
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I use a couple but I don't pay much attention to the score section. I use them to track spending on the accounts and bills due. Much better than logging into each credit card account and I've spotted a couple times when we had some fraud spending we caught early over the past 10 years.
This thread made me look mine up. It's lower than I thought, high 700s. Wifes is just over 800. She has no income and normally has a new car and a new phone and pays all of our bills. I have an income but never anything like a car payment or new cellphone payment. We obviously have both names on things like utilities and mortgage and have owned the same home for 15 years. She has zero ability to pay off debts without me, I would probably be better off if I didn't have someone buying new cars, and I could probably pay off things like bills once I figured out how to log into them... but yet she has a higher credit rating 
. We were once getting a comprehensive financial review while setting up a bunch of family stuff and I asked the person running it if it really mattered and she said 'no, they will take a look at your debt/income ratio and approve you for anything you would care to buy'.
So @louBdub is the plan to get 850, pop some corks, and then move on, or are you gonna get to 850 and then constantly monitor it to ensure that it stays there?
. We were once getting a comprehensive financial review while setting up a bunch of family stuff and I asked the person running it if it really mattered and she said 'no, they will take a look at your debt/income ratio and approve you for anything you would care to buy'.So @louBdub is the plan to get 850, pop some corks, and then move on, or are you gonna get to 850 and then constantly monitor it to ensure that it stays there?
kaida
Pair
Small business credit cards can be applied for just about any business. Sell on eBay/craigslist/PCF? That'll even likely work. If you have at least a few thousand in revenue, it should not be an issue. Answer the application truthfully. You can use your own SSN (for sole proprietorship, which is what I've done) if you don't have an EIN/Tax ID. I got mine for a consulting side gig (primarily to seperate expenses for easier accounting) and have never been declined.
Here's a resource to kickstart your research. I have Chase and American Express business cards and they don't touch my personal report. https://thepointsguy.com/guide/business-credit-cards-that-affect-personal-credit/
bergs
Royal Flush
Lemme borrow $12K interest free and I’ll vouch for your creditworthiness on the Experian Twitter account.
YES! The shit we remember...when I was in my 20's I was miffed for the longest trying to figure out whose number 007-373-5963 was (been in my brain since teh '80's)....turns out it's Mike Tyson's LOL.
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louBdub
Full House
Hi Dave, the plan is solely to accomplish a goal I set. I’m approaching 40 and it would be nice to hit my score before then.
I’ve dialed in plenty of life goals, hit just about all of them, life is good. Except this damn 850 evades me….
I want for nothing, finances are good, I give zero fucks about needing a bank to loan me money. I’m set there. I actually don’t need a credit score, as I don’t borrow anymore.
I will literally not care once I hit my 850, it’s a game, and I need to win. So yes, pop a cork, check the box, and walk away flippin the bird to FICO and his crew
Based on what I’ve gathered, I think my biggest obstacle is simply time. I’ve hit a point where I have done everything in my control, except time. That one I need to just wait on…
Hi Dave, the plan is solely to accomplish a goal I set. I’m approaching 40 and it would be nice to hit my score before then.
I’ve dialed in plenty of life goals, hit just about all of them, life is good. Except this damn 850 evades me….
I want for nothing, finances are good, I give zero fucks about needing a bank to loan me money. I’m set there. I actually don’t need a credit score, as I don’t borrow anymore.
I will literally not care once I hit my 850, it’s a game, and I need to win. So yes, pop a cork, check the box, and walk away flippin the bird to FICO and his crew
Based on what I’ve gathered, I think my biggest obstacle is simply time. I’ve hit a point where I have done everything in my control, except time. That one I need to just wait on…
I’m thinking those extra points might be because you don’t borrow. Borrow some and make payments and pay off after 2-3 months
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louBdub
Full House
Hello Craig,
I set a goal. I’ve been clear on this, no? Haha
It’s just something I want to accomplish.
I'm curious why this goal? Why would anyone focus energy on obtaining a goal of some number that doesn't matter unless you're borrowing money.
It's not an accomplishment.
Setting goals and accomplishment them for the sole sake of checking them off is admirable and worthwhile. If this is all that is left on your list to accomplish then congratulations and hope you can check it off soon
Jonesey07
Full House
I've come a long way in the last 6 years. From down in the low, low 500's to this.
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louBdub
Full House
I thinks it’s because he already accomplished his other goals. He just wants to finish the list. Like finding that last chip to complete a rack
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louBdub
Full House
Congrats! This is awesome to see!
I come from a very wild situation as well. I feel ya on that. I was once 5XX and poor, sucked at all things finances & had a screwed up life.
Made a promise to myself I’d figure it all out, and hit 850…. Well, I bought my 60K truck cash, my wife a BMW - cash, both titles up stairs, and built my mom a house in 2020, cash (that wire transfer made me feel pretty special)
I’ve turned rags to, well prettier rags - and all I want now is my 850…. I will get it, that is guaranteed…
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louBdub
Full House
You get it. Some goals are just special….
Haven’t ever checked my score just to check it. The last time I purchased a vehicle that I financed was 2016, the person in the finance department told me it was the highest he had ever seen at 867. I was 44 years old at the time.
I’ve never personally set a goal of achieving any specific score personally, I’ve just never made a late payment on anything in my entire history of borrowing money. I’ve also really focused on getting the lowest interest rates that I could whenever borrowing money.
If I use a credit card, the balance gets paid off every month. It’s how I take COMPLETE advantage of any perks these companies want to throw you. (Hotel points, cash back, etc.) If your not paying the balance in full every month, it’s really just a gimmick the banks use to get you to pay interest to them.
I can understand the goal of hitting a number in the sense of any bank would typically lend someone money with an 850 score. As I’ve gotten older and have had time to let certain investments work for me, it’s a much better feeling being able to tell a bank I DON’T NEED YOUR MONEY than having to be at their mercy and pay their rates.
I’m the guy that asks them what they’re willing to do for me and if I can make a suggestion, it’s the position you ultimately want to be in.
Once you achieve your goal, make the banks work for you. If one lender doesn’t want to budge, there’s plenty of others who probably will.
I’ve never personally set a goal of achieving any specific score personally, I’ve just never made a late payment on anything in my entire history of borrowing money. I’ve also really focused on getting the lowest interest rates that I could whenever borrowing money.
If I use a credit card, the balance gets paid off every month. It’s how I take COMPLETE advantage of any perks these companies want to throw you. (Hotel points, cash back, etc.) If your not paying the balance in full every month, it’s really just a gimmick the banks use to get you to pay interest to them.
I can understand the goal of hitting a number in the sense of any bank would typically lend someone money with an 850 score. As I’ve gotten older and have had time to let certain investments work for me, it’s a much better feeling being able to tell a bank I DON’T NEED YOUR MONEY than having to be at their mercy and pay their rates.
I’m the guy that asks them what they’re willing to do for me and if I can make a suggestion, it’s the position you ultimately want to be in.
Once you achieve your goal, make the banks work for you. If one lender doesn’t want to budge, there’s plenty of others who probably will.
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louBdub
Full House
@Lil Tuna I hear ya.
I’m definitely not a guy to borrow from a bank anymore. I hope I’m not coming off as a dick about that. I’m “financially happy”
It’s just a personal goal. Especially how long ago I set the goal, and the situation I came from, it’s just special to me.
The score is not needed for anything other than saying I can check that box. Kinda like a dude bench pressing a personal best, or a kid finally growing up to buy a dream car.
Just gotta do it, because I said I would. Simple enough.
I’m definitely not a guy to borrow from a bank anymore. I hope I’m not coming off as a dick about that. I’m “financially happy”
It’s just a personal goal. Especially how long ago I set the goal, and the situation I came from, it’s just special to me.
The score is not needed for anything other than saying I can check that box. Kinda like a dude bench pressing a personal best, or a kid finally growing up to buy a dream car.
Just gotta do it, because I said I would. Simple enough.
Making smart financial decisions in life is not “coming off like a dick.” Don’t ever let some moron tell you it is either.
I’ve tried to be as much of a “borrowing whore” to the banks as much as the banks have tried to be “lending whores” to me.
My credit score was achieved completely by accident or unconsciously so through my actions. I completely understand personal goals and judging by what you’ve displayed on your short chipping journey thus far, I’m sure you’ll eventually reach that number.
Growing up my dad was a really frugal guy and was firm believer in "if you have to borrow money to buy something, you can't afford it!". While I didn't totally stick to that rule, I did absorb some of it and only take loans for large purchases when it made sense. When a dealership offers you very low APR (0 or 0.9%) I'm all aboard
My wife had a goal to keep her credit score above mine as one of her personal goals. Was there really a purpose other than making her happy? No not really but for her it was fun to do even if she didn't really beat me often lol
I checked the age of our credit cards and oldest about 12 years old, but we had a couple new ones in the past year. One was a crate and barrel credit card to get the reward points, another was a Sam's club credit card when we opened a membership. I'm guessing they either look at the oldest one or overall average age of accounts with a heavy weight on having several older ones?
No late payments is a big one. I've had a month or two where I forgot to pay a credit card but quickly paid it a day or two after. Forgetting to pay them isn't an frequent event (maybe once a year or two) so there's a grace period likely built in before the credit card company reports it.
My wife had a goal to keep her credit score above mine as one of her personal goals. Was there really a purpose other than making her happy? No not really but for her it was fun to do even if she didn't really beat me often lol
I checked the age of our credit cards and oldest about 12 years old, but we had a couple new ones in the past year. One was a crate and barrel credit card to get the reward points, another was a Sam's club credit card when we opened a membership. I'm guessing they either look at the oldest one or overall average age of accounts with a heavy weight on having several older ones?
No late payments is a big one. I've had a month or two where I forgot to pay a credit card but quickly paid it a day or two after. Forgetting to pay them isn't an frequent event (maybe once a year or two) so there's a grace period likely built in before the credit card company reports it.
joepro
Flush
My dad never had a credit card. We rarely went to hotels or rented cars, but when we did, it was all cash. He was also very frugal like most immigrants. We used to joke that dad was renting a car through the “Irish mafia.”
We hit rock bottom a few years ago (right before the pandemic) I’d have been happy if someone stole my credit, as they couldn’t have damaged it any worse. 2 1/2 years now, we been vigilant. Still have too much CC debt, but went from a 480-500 to a 700. Still have a LONG way to go. 7 years to get some of these derogatory marks off of there.
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