How Long Before "Perfect" Score?

Discussion in 'Credit Talk' started by texan, Sep 7, 2003.

  1. texan

    texan Well-Known Member

    I am close to clearing out - paying off - deleting, etc all negative entries on all 3 reports. Leaving postive ones - paying others on time. Very low debt. How long does it take for the scores to start showing significant improvement into the "positive" areas? Most scores are around 600 - 700 right now.

    GEORGE Well-Known Member

  3. snakeman

    snakeman Well-Known Member

    I don't mean to minimize your 600-700 scores, but you should be good to go for most any loan you would want.

    1. 660 and higher for most banks for secured or unsecured loans.

    2. 500 and up for mortgages.

    3. CC's usually hovering close to 700 but many accpeted around 650.

    4. auto loans 600 and up.

    Of course this has little to do about the rates and so on. I was pointing out that your in the range where most creditors will at least give you a second glance.

    I'm not very proud of my scores. At one point my score hovered around 700. Now my scores are as follows:

  4. willgator

    willgator Well-Known Member

    Snakeman had some info , but heres a little more 720 and up will get you the most attractive rates on homes credit cards and locs and you should be reaching that shortly..... all of my reports have been clean for a long time 250,000in cl's at 18% usage and I'm around 760 to 790ish....
    hope this clears it up a little....

    GEORGE Well-Known Member

    I have 25+ years of PERFECT payment history...

    F.I.C.O. 665-739

    I owe less NOW than when I had 739...only closed one $5,000 account...
    Most other accounts have increased CREDIT LIMIT...


  6. allen074

    allen074 Well-Known Member

  7. Peachkiwi

    Peachkiwi Well-Known Member

    It's been about 6-7 months since my bankruptcy came off. FICO range at the time was 695-706; EXP FAKO was about 760. The last time I checked (about a month ago), my FICO was in the range of 721-790; It's been a relatively slow process, but I'm still working towards that "Perfect Score"!
  8. RichGuy

    RichGuy Well-Known Member


    I'm guessing that the fact that your scores are grouped so closely together (804, 796, 790) means that they've run out of random excuses. So it's likely that all the normal improvement has already taken place.

    Now it's just a matter of longevity, like 20 years at the same residence, multiple accounts for 30 years, etc.
  9. J. Vick 71

    J. Vick 71 Well-Known Member

    Re: Re: How Long Before "Perfect" Score?

    When did time at residence count on a FICO score? Did I miss something lately?
  10. RichGuy

    RichGuy Well-Known Member

    Well, this isn't from FICO itself, but I took some notes from credible sources about 3 years ago that indicated that type of employment, time at present job, and time at current residence were important factors in credit scoring.

    Now, this may not be referring to FICO scores, and I would hope that that type of information wouldn't be on credit reports at all. It probably refers to private scoring systems based on FICO, which are the ones really used by most major lenders. And they're depending on information from your application: whatever you're smart or dumb enough to tell them.

    So you have a point in that it probably doesn't affect your actual FICO scores. But longevity of accounts and of the file itself does matter. And length of residence could easily affect approval for credit even if it doesn't affect FICO scores. Because, even though it seldom gets mentioned, FICO isn't everything.
  11. GEORGE

    GEORGE Well-Known Member

    Re: Re: Re: How Long Before "Perfect" Score?

  12. GEORGE

    GEORGE Well-Known Member

  13. J. Vick 71

    J. Vick 71 Well-Known Member

    Re: Re: Re: How Long Before "Perfect" Score?

    Those slides are private scoring and have nothing to do with a FICO score. Employment, rent or own, etc. I have no idea why Fair Isaac is even on there. It looks to me that a lender provided those slides to someone like potential or current investors or others for reasons unknown. The actual numbers make no sense and the results would vary from different reports. I have no idea why these slides would be tied to a FICO score other than personal or corporate gain.

    For some reason the first time I ever saw a FICO score simulator I got hooked on it and have spent hundreds of hours trying to figure out the variables that drive the score up and down. I'm sure I have spent over $1000 on FICO scores personally and also help others in credit repair just to see the changes in their FICO score. What a deal they get free credit repair help and I go crazy trying to figure out what changed and the effect of it. I know its a dumb hobby but for some reason I keep trying everyday to figure it out.
  14. J. Vick 71

    J. Vick 71 Well-Known Member

    Re: Re: Re: How Long Before "Perfect" Score?

    I shouldn't have posted my above remarks without fully checking it out. Dumb mistake I'm still learning. But now the slides make sense check this out.

    It is mortgage scoring and automated underwriting. It's just examples not FICO facts.

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