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What is your credit score?

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lending55
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What is your credit score?  Reply with quote  

Anyone care to share their credit score? Myself, 799. I've never been able to achieve anything higher than that. What does it take to achieve the max at 850 (I believe). I have one Master card and one Visa card (entire balances paid in full every month), no department store credit cards or gasoline station credit cards. Recently paid off my 2007 Dodge truck. No student loans (paid as I went), 2 master's degrees. Remaining mortgage about $38,000, property currently rented out in another state. Currently renting in a different state. No other loans. I'm 47 yr old.
Post Thu Feb 28, 2013 1:25 pm
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littleroc02us
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If that is your goal then borrow more and pay it back on time.

Risk comes from not knowing what you're doing. (Warren Buffet)
Post Thu Feb 28, 2013 2:12 pm
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oldguy
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quote:
What does it take to achieve the max at 850 (I believe).


Mine normally runs near the top. But I don't really know what I do to 'earn' that score. Like you, I have one cc and pay it in full every month. When we buy a new car/truck I 100% finance it for 5 yrs. I regularly refi our rental houses and remove th eequity - and invest it elsewhere.

Actually, I only pay attn to the score in recent yrs only becasue os the identity theft issues. Since I was lived a large part of my adult life before credit scores were invented, I was never in the habit of checking/caring.

Maybe that is the secret of a high score - ie, pay no attn to it and do what is best for YOU, not the lenders - lol.

But it is possible that your living status adds some risk (in the eyes of your potential lenders). They may worry that, in a crisis, the first thing that you would default on is the rental note (which is probably true, that's what I would do). As you probably know, there is about a 1% to 1.5% premium on Non-Owner-Occupied houses - eg, I pay about 5% on new rental houses where an Owner-Occupied loan is 4%.
Post Thu Feb 28, 2013 3:13 pm
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coaster
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quote:
Originally posted by oldguy
Maybe that is the secret of a high score - ie, pay no attn to it and do what is best for YOU, not the lenders

Yes, I agree, I think that's it. Last time I refied mine was north of 800, but I didn't do anything special I known of, just met all my financial obligations, as I would expect everone to do.

~Tim~
Post Thu Feb 28, 2013 4:32 pm
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soybean
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Re: What is your credit score?  Reply with quote  

quote:
Originally posted by lending55
Anyone care to share their credit score? Myself, 799. I've never been able to achieve anything higher than that. What does it take to achieve the max at 850 (I believe).
With a score as high as your, I wouldn't worry about it. I know of no lender that requires a score nearly that high. Last year, I refinanced my mortgage to take advantage of a great mortgage loan offer; the lender required a minimum score of 680 (which I was well above).

My score has been over 800 but is currently in the high 7xx range. I'm not sure what factors underlie the scores. Clearly, as already mentioned in previous posts here, always making payments on time is important. And, do not let your total debt exceed a certain percentage of your total available credit. I'm not sure what that percentage is. I am also under impression frequent opening and closing of accounts can affect the credit score.
Post Sun Mar 03, 2013 4:32 pm
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hewiesidney
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Your credit score is a numerical interpretation of your past credit behavior. The creator of the FICO credit score, the Fair Isaac Corp., divides your credit score into five categories -- payment history, amounts owed, length of credit history, new credit and types of credit used.
Post Mon Mar 04, 2013 11:35 am
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tajul2010
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Re: What is your credit score?  Reply with quote  

quote:
Originally posted by lending55
Anyone care to share their credit score? Myself, 799. I've never been able to achieve anything higher than that. What does it take to achieve the max at 850 (I believe). I have one Master card and one Visa card (entire balances paid in full every month), no department store credit cards or gasoline station credit cards. Recently paid off my 2007 Dodge truck. No student loans (paid as I went), 2 master's degrees. Remaining mortgage about $38,000, property currently rented out in another state. Currently renting in a different state. No other loans. I'm 47 yr old.


I have no idea about credit score. What is credit score and what is the use of credit score?
Post Mon Apr 01, 2013 2:49 pm
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soybean
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Re: What is your credit score?  Reply with quote  

quote:
Originally posted by tajul2010

I have no idea about credit score. What is credit score and what is the use of credit score?
See http://www.myfico.com/CreditEducation/CreditScores.aspx for a brief explanation.
Post Mon Apr 01, 2013 3:22 pm
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