Richard’s quest for 800 FICO credit score

After achieving a 760 FICO credit score, I thought the next milestone would be 800. Since there are multiple FICO scoring models that lenders use, an 800 FICO would almost guarantee me at least a 760 on other FICO models. My credit history length is hitting 3 years in January 2015, and my AAoA (average age of accounts) is going to reach 2 years in February 2015. Since FICO scores tend to increase at these factors’ milestones, my score is probably going to achieve the maximum in February 2015 before hitting the plateau. And since I have several credit inquiries from the auto loan applications in February 2014, in February 2015 when they drop off, I’ll have a decent shot at an 800 FICO.

800 is a beautiful number Continue reading Richard’s quest for 800 FICO credit score

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Today’s feature: Discover It credit card review

2 years ago, when I had just started this blog, the Discover More was one of the first credit cards that I reviewed. Since then, Discover Financial Services has replaced the card with the Discover It which is in many ways the same as the Discover More. I personally still have the Discover More, but most people these days have already switched over to the Discover It. It is about time I reviewed the Discover It as well.

discover-it-web-page-header

Continue reading Today’s feature: Discover It credit card review

How I achieved 760 FICO credit score in just over 2 years

How I achieved 760 FICO credit score in just over 2 years

My credit journey has now lasted for 2 years and 10 months, and I’m in the mood for reflecting on the journey thus far. I did a lot of research about credit along the way, especially in the first year, to make sure I could achieve the most, credit-wise, in the shortest amount of time. And at this moment, I am about exactly where I wanted to be, and in just about the best position there could be for someone with 2 years and 10 months of credit history.

760 FICO credit score has long been considered a hallmark of excellent credit, and I hit it about 3 months ago.

FICO score 767
From MyFICO Score Watch

Continue reading How I achieved 760 FICO credit score in just over 2 years

Does checking your own credit report affect your credit?

The other day I was having lunch with co-workers. I don’t remember how this topic came across, but one of my co-workers was convinced that checking your credit would lower your credit score. I just wanted to emphasize that checking your credit is totally harmless. Why?

Continue reading Does checking your own credit report affect your credit?

Reblog and analysis: “Five Surprising Things That May Impact Your Score” from Transunion

parking-ticketTransunion is one of the three consumer reporting agencies (CRA’s) which are responsible for keeping a record of your credit profile. Today I came across a brief and helpful article on their “Credit Education” section that I’d like to share with you and attach my comments to. The article is titled “Your Credit History: Five Surprising Things That May Impact Your Score.” Let’s analyze these 5 surprising things, one by one.

 

Continue reading Reblog and analysis: “Five Surprising Things That May Impact Your Score” from Transunion