On March 31, 2014, I obtained a perfect FICO 850 (TU/FICO 8:FICO_History.xls). Iíve obtained an 849 with Experian. I also have an 845 with Discover although this will almost certainly reflect the 850 once Discover generates a new statement and the items on the credit report are ďup-to-dateĒ (around the 5th of the month).
Update on 4/5 - Discover card shows an 850 also.
Iíve been working on this pursuit for more than 20 years (very diligently for the past 10 years). As you might imagine, itís been a very long-time in waiting. In fact, I havenít opened a single revolving credit card in nearly a decade; thatís one reason I finally reached this milestone among many other careful and thoughtful moves with my credit and finances over a very long period. This Credit Report Scores spreadsheet is another.Although I donít intend to brag about this in the very least, I nevertheless intend to talk about what it takes to achieve a perfect score. I also want consumers who are struggling with marginal or bad credit to understand that credit situations can and do get better (thatís the beauty of the FICO score). Moreover, with credit scoring and Federal laws to protect consumers, an individualís difficult circumstances or life-events (i.e. collection accounts, bankruptcy, foreclosure, serious delinquency, etc.) donít have to haunt their financial health and credit forever. I will share what it takes from the standpoint of the consumer credit report to reach the maximum scoreÖthe 100th percentile (less than (4/10) of (one percent) obtain a perfect score and, surprisingly, thereís a good deal of interest on this subject). Interestingly too, nearly every banking professional with decades of experience selling credit products, s/he will never see a single perfect score in their entire career.
Iím writing because I will be talking about this to everyone and anyone who may be interested. Yes, itís an incredibly big deal for me both personally and professionally.
I plan to contact journalists/bloggers who write and discuss the subject and seek their engagement. I am also going to write about it and publish many of the account details contained on my personal credit report(s) (which ultimately generated the perfect FICO score). I may also use the opportunity to once again refute ĎConsumer Reportsí and the advice they provided about purchasing ďuselessĒ credit scores. http://finance.yahoo.com/news/president-subscriberwise-responds-consumer-reports-185700406.html
Exceptional credit scores offer consumers the most favorable terms and make many financial opportunities much more plausible. My exceptional credit is one of the reasons I own 65 percent of the outstanding shares in Americaís first and largest issuing CRA for the communications industry.Sincerely,
P.S. Whatís the impact of one singly inquiry? Itís impossible to generalize with certainty Öbut for my specific credit profile: 3 points.
When I obtained myFICO report on 03/31/14 I had one hard inquiry which was generated with my mortgage, 04/01/2013. One year later, the inquiry would no longer impact my score (as of 04/01/2014).
When I obtained an updated score today 04/02/14Öwith absolutely no other changes to my credit file expect the removal of the inquiry, the net gain: 3 points. I have 0 inquiries impacting my report.
Why did I not obtain an 850 with Experian? Most likely itís the factor indicated: ďAmount of new creditĒ. This factor reflects accounts that are up to 12 months old. In May, once the mortgage has been booked for > one year, itís highly probable Iíll see the 850Öjust like with TU.
Knowledge is Power. I own each.
Additional resources on obtaining a perfect credit score:Can I score the elusive FICO 850?