Lainee Posted November 9, 2004 Report Share Posted November 9, 2004 Just curious......what is the highest credit score any of you have known a person to have? I know that 800+ is possible, and although I know some people who do pretty well for themselves and have great credit habits, I've never known anyone to have above a 720 or so. Anyone ever known a person with this 800 range? Are they just multi-millionaires and that is how they get it? I just am wondering when to "rest" on the credit issue. I mean, my initial goal is 700, but if the 800 score is possible at a modest income, then I would like that to be my ultimate goal. Thoughts? Link to comment Share on other sites More sharing options...
Ravenous Wolf Posted November 9, 2004 Report Share Posted November 9, 2004 There are lots of rich people with bad credit...A very high score is actually the domain of middle-aged people. People with credit histories like 20 years old, no inquiries, etc...The Fair Isaac corporation has a list of averages of what people have. Link to comment Share on other sites More sharing options...
itsgettingbetter Posted November 9, 2004 Report Share Posted November 9, 2004 used to have a perfect score--850. Now their score has come down a bit because they sold their house and are renting, they currently have an average score between 820 and 830. It definitely IS possible. My father has been retired for nearly 15 years now--the maximum salary he ever made was around 80 thousand dollars per year. My parents have always paid every bill IN FULL the minute that it arrives in their mailbox. They have never financed anything except their houses--and they only did that when they were newly married. In order to have a house paid for--my mother became a general contractor--and they built their own house--they did this several times during the 1980's and 1990's and made a profit every time they built their own home.They are NOT wealthy people--and they live carefully not lavishly. However, they do have a nice middle class lifestyle--they enjoy doing the things they like to do--but their tastes are not extravagent. They have enough money for a nice middle class lifestyle and they live slightly below their means.Every bill--is ALWAYS paid in full---the minute it arrives in their mailbox--they have done this for a period of over 40 years. They have never carried a balance on anything except a house--not even for a day. Perfect credit. They only have three credit cards--the youngest of these is from the 1980's, another is from the 1960's and the oldest they have had since the 1950's--that card has a history of being PIF every month for over 50 years--it is a Shell gasoline card! (My father had it even before he married my mother! The other cards are from a shared financial history.)I know that perfect credit must be quite rare--my father is extremely proud of his credit--and even though he always pays cash (they save in advance) for things like cars--he always has the salesperson pull his credit--I think just to show off. The last time they bought a car--the entire sales staff was talking about it--they pull scores everyday and none of them had ever seen a score as high as my parents. They kept prattling about it the whole time that my father was writing out the check to pay for his car in full.To sum it up--a high score is not about being rich--it is about being responsible. It is about being dependable in paying your bills on time--and over a very long period of time. I think that it is very hard to get past the mid 700's without a lengthy history. The longer a person works on being responsible--the better their score should be. Link to comment Share on other sites More sharing options...
credithelp Posted November 9, 2004 Report Share Posted November 9, 2004 My parents have scores that range between 810 and 835. They have a 35 year credit history and the late payments they had were about 20 years ago so now their reports are perfect. Their house was just paid off and they have two credit cards that they pay off each month. My dad actually said his credit sucked when they first got married but time definitely heals credit. Link to comment Share on other sites More sharing options...
Ahntara Posted November 9, 2004 Report Share Posted November 9, 2004 First, aim for 721, that puts you in the highest category for mortgage loans. Then aim for 751. That gets you the best automobile interest rates.Everything in credit is categorized.Below 500=no way500-5559=okay, but outrageous interest560-619=okay, but exorbitant interest620-674=high interest rates675-699=moderate rates700-719=slightly higher than the best available720-850=best rates, like I said, for mortgage industry(These figures are not actual, just to give you an idea). Link to comment Share on other sites More sharing options...
DocPC Posted November 9, 2004 Report Share Posted November 9, 2004 When I was a manager at a car lot, I pulled this old farmers report so he could buy a used truck we had on the lot. His AVERAGE score was 835! I then asked why he wanted a used truck and he said he wouldn't be around long and he didn't want a new one.I think his TU was 842 if I remember correctly. Link to comment Share on other sites More sharing options...
Lainee Posted November 11, 2004 Author Report Share Posted November 11, 2004 WOW! This is some really exciting information. I think it is pretty motivating! Thanks to everyone who replied. It is nice to know that the perfect score really does exist if you work hard and "keep on truckin".I hope we all can post 800+ scores one day! Link to comment Share on other sites More sharing options...
Recommended Posts