As close as I ever got -PIC

mogley98

To the mythical 850 FICO

Wife's is higher and she doesn't even have a job! LOL 

Banker said it doesn't matter anywhere from around 750 up he says you get the same interest rate. I think it is a Ego thing

SW0320

That is a great score.  My wife has an 850 score.  When she got a car loan last year and they ran her credit.  They sent her a copy of the report.  I had to laugh it said her credit score was "better than 100% of other people".  Mine runs in the 820 to 840 range depending on the time of year and how much I use my credit card for business.

Maalox

congrats 

chiefr

Flying Clay Disk said:

Anything above 800 is considered perfect. 

The rest is just pee elevation on the wall.

Nailed it, family member worked for Equifax for years and told me the same thing.
Over 800 you are not considered any form of a credit risk and can secure loans quickly and at lower interest rates.

BobJudy

Congats. I'll never be that high. My score is around 810 and has been for years. I asked my CPA friend about why it never goes higher. He laughed and said that I haven't borrowed enough money in the last 20 years. Perfect payment history on credit cards will only get your score so high. If I was to finance a vehicle or have a mortgage then my score could go higher. So in other words I would have to pay someone interest to get my score higher. That ain't gonna happen. Bob

Locust Fork

When we were in the finance room at the car dealer the lady laughed when she said mine was higher than Larry.    We are in the 800s.....I don't remember the exact numbers, but I'm about 5 above his.    He said its because the truck he's paying for is in just MY name.    We were shopping for him, but he had to leave for work before we were done.   So, after he picked out what he wanted he left and I was there doing the paperwork by myself.    I drove his truck to him at his job and picked up my car from him. 

mark christian

I've never made it above 825. I'm not sure what I'd have to do to break through that ceiling:
 

Ditch-Runner

 I never thought about ours a few years back we helped one of our sons get a house , the bank officer told us we had the highest score of any one he had ever delt with I know it was not 850 but just a few point off my  wifes was real close mine  was 3 points lower then hers  , for what ever reason .  but JMHO I think my score and a dollar I could get a cup of coffee 

nunn

There are no bankers anymore.

US Military Guy

Other than to borrow money - which I don't do - why would I care how high my score was?

I thought I heard at one time it might affect my insurance rates.  I could be wrong on that.  It didn't make any sense to me, but what do I know. 

A low score might limit the number of channels I get on my TV for all I know.  Either scenario seems possible.

hillbille

US Military Guy said:

Other than to borrow money - which I don't do - why would I care how high my score was?

I thought I heard at one time it might affect my insurance rates.  I could be wrong on that.  It didn't make any sense to me, but what do I know. 

A low score might limit the number of channels I get on my TV for all I know.  Either scenario seems possible.

my understanding, it does effect your insurance rates, seems their thinking is a low score is a higher risk, equalls higher premiums.......

dreher

I don't remember, or care, what my credit score is since I don't borrow money anymore.  My payments every month are utilities and one credit card for online purchases.  This is a wonderful feeling!!

I bought a 2010 Corolla in 2010.  I did it through Toyota credit.  The salesman comes back after running my credit check.  He looked at me and said you don't have to buy a Corolla with your credit score, you can buy anything on our lot.  I told him the reason for my high credit score was that I didn't buy anything I couldn't afford.  What I can afford is a Corolla.  He was a young guy.  You could tell he didn't understand why you would buy a Corolla when you could buy something expensive, meaning something cool.  I actually got that.  I can remember being young and stupid.  Not that much has changed except I'm not young anymore!!         

Rocky Raab

I hit a FICO of 850 once. Don't know how or care. It usually bounces around at 825 or so. Other than two credit cards (one daily and one travel) I never use credit.

mogley98

Insurance not all states but most use your credit score when calculating your cost for home ins or auto ins. So even if you never borrow anything it helps to keep a higher score.

Mr. Perfect

A scale that has its terminus at 850 is beyond stupid.

select-fire

 Never worried about our scores

bpost

dreher said:

I don't remember, or care, what my credit score is since I don't borrow money anymore.  My payments every month are utilities and one credit card for online purchases.  This is a wonderful feeling!!

I bought a 2010 Corolla in 2010.  I did it through Toyota credit.  The salesman comes back after running my credit check.  He looked at me and said you don't have to buy a Corolla with your credit score, you can buy anything on our lot.  I told him the reason for my high credit score was that I didn't buy anything I couldn't afford.  What I can afford is a Corolla.  He was a young guy.  You could tell he didn't understand why you would buy a Corolla when you could buy something expensive, meaning something cool.  I actually got that.  I can remember being young and stupid.  Not that much has changed except I'm not young anymore!!         

AMEN!  That is why my retirement car is a base model Kia Soul, paid off three years early and I drive a 20 year old truck with 565,000 miles on it so I can afford to fly a 50 year old aircraft. 

dreher

bpost, I should have added that I am still driving that 2010 Corolla 225,000 miles later!!  On the basis of cost of operation it is by far the cheapest car per mile driven I have ever owned.

pickenup

Mr. Perfect said:

A scale that has its terminus at 850 is beyond stupid.

Up until a few years ago, I didn't know or care what mine was (still don't care) Then a credit card I hadn't used in years offered 5% cash back, so I used it. They sent me my score. It was 84? (whatever) and I was PIZZED. Why so low I thought. THEN later I found out that it topped out at 850. What the h*ll? Who ever came up with a top score of 850? WHY?

No mortgage, no loans, only credit cards (that I pay off in full every month, to get the cash back on things I am going to buy anyway) and it still runs in that area. Whoever says you have to have loans to get a higher score?.........I don't think so.

select-fire

If you need a loan the banks will look at assets . Collateral.

jltrent

A good Credit score does not always make for a good loan.  I worked in a bank as a Loan Officer and Branch Manager a few years ago.  Probably the most important thing is ability to pay.  Also you better take in these 5 things also or you will have a troublesome asset on the bank books and a CEO asking you questions why did you make the loan.  Also when the FDIC, State and Federal boys and girls visit the bank you can get red flagged as an employee and a lot of explaining to do.  I remember one employee I worked with got shown the door with an escort out as a recommendation to the bank from the Feds.

The Case for the 5 C's of Credit

• Capital – Indicates your level of seriousness. ...
• Condition – The purpose and details of your loan.
• Capacity – How you plan of to repay the loan.
• Collateral – A form of security that guarantees repayment.
• Character – A look at your credit history, demonstrated responsibility and the integrity of your actions.

fugawe

Credit score affects the weirdest things. When I got DISH they told me that I would get the biggest and baddest Hopper upgrade for free because of my score. Huh?
When I bought a house in '11, the bank told me I could get a loan for almost double what I was comfortable with. Isn't that how the mess started in '08? 

Junkballer

select-fire said:

If you need a loan the banks will look at assets . Collateral.

Yes Sir, the rule was good back then and it's still good now.......friendship with your local banker is good too 

drobs

Getting there.

savage170

Mine actually went down  about 10 points after I paid the mortgage off

KenK/84Bravo

When I moved down to TN. I made sure I was debt free. Had paid off two previous Home loans, and when I moved down I paid cash for my house. I had no credit card debt nor did I have/use a credit card. About two years later, I went to buy a Jeep. I figured my Credit would be awesome as I was excercising fiscal responsibility. Nope.

The Jeep guys came over to my desk and explained that my Credit score was terrible, because i basically did not owe anyone $$, nor was I using Credit. I pretty much stopped caring what my "Score," was at that point, and since.