I’m 97% of the way there but I seem to have hit a ceiling. I think I may not have old enough accounts (oldest two are only 25 years old) or my credit utilization is too high (I don’t carry balances but when they take the snapshot I sometimes have a balance because I haven’t paid it off yet for the month)
It’s just annoying I can’t get to perfection. Yes a very first world problem.
I had a perfect 850 in September. This month, it is 838.
The scoring of your credit utilization is by percentage. So you can reduce that percentage by keeping your total $ usage the same but getting your limit increased.
No. And I do not care what my credit score is. To me, it is illogical.
I have not had a debt in 30 years. I have 7 figures in the market and in equity in my home. I keep 6 figures in my bank account. I use only 2 credit cards. One for subscriptions, auto pay bills, etc. that is in a drawer and does not leave home. It is on autopay so it is paid the day they send the bill. The other I use for everything. It is paid within days of when they send the bill.
I just checked and my credit score is 770 out of 900. Like I said, illogical. Since I will never have another debt in my life .. I really do not care.
No idea. I suspect not that high as I do not carry enough debt, having only a mortgage and a one credit card with a $5k limit. But you’re question piqued my interest so I took a look, 96% (812 out of 850).
Depends.
Your credit score is not the same across the 3 bureaus (in the US), as their calculations differ, as does timing of when they receive and use info reported into them.
And your bank, or insurer, or other usually also customizes a credit score for their purposes.
Yes, they should be similar to each other but chasing a perfect score isn’t really that meaningful or useful. Knowing the range or tier level that your credit score is in is useful to know.
Honest question, should I care if my score is 97 or 100? I don’t really pay any attention to my credit score. My wife pays all the bills on time and we don’t carry much debt, our score has always been sufficient for anything we’ve wanted to do.
Is there an advantage to the 3% or is it just something you want to achieve?
And as a consumer, that’s a healthy way to “use” one’s score.
To add - scores are also affected by percent utilization of credit (not just the credit limit itself).
So if you want to optimize your credit score (e.g. when applying for a loan), it helps to lower your credit utilization number at the time your application is being considered. e.g. paying off credit card debt in full and well in advance of their due date if nec. (while your loan application is in process).
I checked a couple of months ago and it was 840 (IIRC).
I had a similar though when I checked my credit. Is there anything you can buy with an 850 that you can’t buy with an 840?
I am in same situation.
Various banks I have engaged on loans have told me no. You get the same loan interest rate with a 800 as you do with 850.
That’s what our mortgage broker said as well. 800 seemed to be a breakpoint; our interest rate would have been slightly different/higher if we’d been under 800, according to the broker.
… which is why it makes sense to manage one’s credit to the right “tier level” or band vs. trying to hit a specific number.
(since we’re sharing… Also in the >800 club).
I’ve got straight A’s on every test
A perfect credit score
My ledger is never in the red
I look good on paper
Why isn’t “Perfect Credit” = 1000?
Also, why is a “Perfect QBR” = 158.3?
In this way, I think Celsius makes much more sense, but it’s hard for me to translate in my head
Same
I have been in the 840s for many years. I just checked and have dropped down to 815, but i expected that, as I applied for about 5 new credit cards in last 6 months, so taking a hit for that.
I got on a side project of trying to get a number of diff credit cards to try to max out my cash back rate on using credit cards, so i have cashback now on all purchases between 4-6%, so lets just say average of 5% now.
I was 815ish before we renewed our last mortgage. We switched lenders and didn’t reopen the HELOC we had with our first lender. That, along with the credit checks that came along with mortgage renewal, dropped me significantly to mid 700s. Despite doing everything else the same, no delinquencies etc not having that unused LOC available seems to have made it impossible to get back above 800. I guess not needing to potentially borrow hundreds of thousands of dollars makes me risky.
Currently 790. I think I’m fairly capped because of age of credit still. Only 14 years. Never have missed a payment, but have varied in the past just based on credit % used, and it dropped when I paid off my car loan several years ago (tell me how that makes sense). I think I’ll have to graduate into the 25 years of credit history before I can get much higher.
