If 830 is a perfect score, how does one reach it? I know the mid 700's are near excellent, but I've never heard of someone with a perfect score...
2007-07-22 07:15:02 · 6 answers · asked by HELP! 1 in Business & Finance ➔ Credit
850 is perfect and none us are. You need a very long credit history like over 30 years, some outstanding debt as revolving and as non revolving but a tiny percentage of your total available. No inquires.
So if you have had perfect credit for more than 30 years your odds of having debt is pretty low.
My credit history is over 20 years now but last time I applied for a mortgage I didn't have a mortgage except HELOC and I don't do car loans and things so my credit ratings weren't over 800.
Who cares? It isn't expected that you will have a perfect score 760 or more is fine for everything and most things over 720 is good enough.
2007-07-22 07:23:23 · answer #1 · answered by shipwreck 7 · 0⤊ 0⤋
Correction, 850 is a pefect score.Coming from a finance background, currently working as a mortgage consultant and seen many credit files. I have actually had a client with a 848 credit score. I have had others who were high 700-850. Any score above 680 is prime credit.
The primary characteristics I have seen of these files are:
1) Excellent pay history and longevity in those accounts (7+yrs)
2) Numberous accounts satisified and paid off over time
3) Very limited or no revolving balances on current accounts
4) Good variety of accounts - Mortgage, Auto loans, FEW revolving accounts
No one has perfect credit, it's too variable and change due to too many factors however these are some of the things I have noticed in my experience.
2007-07-22 07:26:37 · answer #2 · answered by Anonymous · 0⤊ 0⤋
It's actually 850, however, in all the years I have been in the business...I've never actually seen one, and I have seen thousands of reports over the years.
That is why I am very suspicious of people that say they have a "perfect" credit score, or claim they only work with clients that do.
No one really knows how one achieves the magical 850...because credit bureaus do not publish that information or make it available to the public.
2007-07-22 07:38:05 · answer #3 · answered by Expert8675309 7 · 0⤊ 1⤋
the version between a 780 and 800 (or perhaps 850 for that rely) somewhat won't rely for the needs of borrowing money. You better than possibly won't get a extra suited value on interest for having an 800 score as adversarial to 780, so do no longer somewhat subject approximately it. in case you modern-day have any credit taking part in cards or installment debt in simple terms shop making money on time, and shop the balances on credit taking part in cards or branch keep taking part in cards to twenty% utilization or below.
2016-12-10 19:00:53 · answer #4 · answered by rothman 4 · 0⤊ 0⤋
It is very hard to get a perfect credit score but it is possible. You will need to have 5 major lines of credit such as credit cards, auto loan, hoime loan, exc. this is help your credit make every payment on time and you will see the increase
2007-07-26 04:57:30 · answer #5 · answered by xoxocrystalxoxo2003 2 · 0⤊ 0⤋
I don't think it's possible. Who hasn't missed one payment one time?
Even if you had that score, no one would believe it!
2007-07-22 07:36:24 · answer #6 · answered by Anonymous · 0⤊ 1⤋