Perfect credit score!

[disneysteve]

I've always wondered if it was actually possible to have a perfect credit score. Well I found out today. We just bought my wife a "new" van. They ran our credit. Her score was 835. Mine was 850! It just doesn't get any better than that - literally.

[MoneyLifeandMore]

That's awesome. Do you plan to take advantage of it in any other ways or are you going to try to keep it pristine.

[Barclay]

I just got mine back when I applied for a car loan. It was 851. They increased the rates to 900 max now according to loan officer. Sorry. And no, I'm not talking vantage score. Idk when it changed. I just got that number a few days ago. I think credit cards weigh it stronger or something, I'm not sure

[disneysteve]

I just got mine back when I applied for a car loan. It was 851. They increased the rates to 900 max now according to loan officer.

There are other rating agencies but FICO, the most commonly used score, ranges from 300-850.

[Barclay]

This was also a FICO score. I questioned it because I thought the high was 850, alsp. She explained that there are scores that can go above the 850. Something about classic risk scores. I'm not sure. It was all new to me and I didn't even get the loan so it didn't really to me.

The good news is that there are more people with 800+ credit scores now forcing the numbers up. At least according to her.

[disneysteve]

I did a little Googling and it turns out it isn't as simple as it used to be.

There are several types of FICO score: generic, bankcard, personal finance, mortgage, installment loan, auto, NextGen and expansion score. The generic FICO score is between 300 and 850 exhibiting a negative skewed distribution with 60% of people falling between approximately 650 and 799.[15] According to FICO the median score in 2006 was 723, and 711 in 2011.[16] The FICO bankcard score and FICO auto score are between 250 and 900. The FICO mortgage score is between 300 and 850.

So I guess my 850 was probably on the auto score range which does, in fact, go up to 900. Oh well. So much for my perfect score.

[creditcardfree]

850 is still a very good score. We already knew you would score high, DS! And now we learned something new.

[disneysteve]

850 is still a very good score. We already knew you would score high, DS! And now we learned something new.

Thanks!

I knew my score was high. I bought my car last June and I think it was 815 then, so the fact that it has gone up even higher to 850 was certainly nice to hear.

[snafu]

Good score but what car/van did your wife chose?

[disneysteve]

Good score but what car/van did your wife chose?

She got a 2011 Toyota Sienna LE.

[fsumom]

If it makes you feel any better, I've worked in the financial industry (credit union) for 12 years and have never seen anyone have a perfect score with Equifax (the reporting agency we use). However, after a certain point, it doesn't really matter. A 757+ score where I work will yield the same rate on various loan products as someone that has an 820.

[krantcents]

I've always wondered if it was actually possible to have a perfect credit score. Well I found out today. We just bought my wife a "new" van. They ran our credit. Her score was 835. Mine was 850! It just doesn't get any better than that - literally.

A large component of how they calculate credit scores is time and history. The longer you have credit and don't screw up, your credit score will go to the top. In fact, I actually had a credit score over 850 when I applied for a Home Equity Line of Credit.

[bjl584]

Good job.

But, I wouldn't expect anything less from you Steve.

[alternativegirl]

way to go

Congratulations!

[karenjcarlson]

great score

congratulations on the score - you are right, the longer you maintain good credit, the higher your score goes. I'm not sure how to get "perfect credit" - but doubt it conveys any advantages beyond your current credit score.