How to get a perfect 850 credit score

[CreditBob]

https://www.youtube.com/watch?v=M53wNlq6sro

[Horseshoez]

I haven't watched the video at the end of the posted link and probably won't.  Why?  I've found most advice from YouTube videos, regardless of whether it is about when to change your oil, how to get a green lawn, how to lose weight, or how to improved your credit, is HIGHLY suspect.

[Kforce]

It is very easy.

This is how in 5 steps, no video required.

1) Always pay on time.

2) Have 3 or more cards on record.

3) Don't keep getting cards you don't really need

4) Keep utilization low.

5) Be patient.

or 

1) Always pay on time.

2) Have as many as you want

3) Keep getting cards you don't really need

4) Keep utilization low.

5) Be patient.

( Have excellent but not 850 scores and a fun hobby )

[Thomas_Thumb]

An open installment loan makes getting to 850 a whole lot easier than a card only profile.

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@Kforce wrote:

It is very easy.

This is how in 5 steps, no video required.

1) Always pay on time.

2) Have 3 or more cards on record.

3) Don't keep getting cards you don't really need

4) Keep utilization low.

5) Be patient.

---

[Kforce]

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@Thomas_Thumb wrote:

An open installment loan makes getting to 850 a whole lot easier than a card only profile.

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Yes I did forget that point.

Have always been a few points from 850's with out credit mix

Should either add one more line item or change target to 845.

[markbeiser]

Also, never use new car dealer financing, like Ford Motor Credit, or make large purchases using services like Afirm, or you will be stuck with a CFA on your credit prifile, making 850 impossible.

[fury1995]

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@markbeiser wrote:

Also, never use new car dealer financing, like Ford Motor Credit, or make large purchases using services like Afirm, or you will be stuck with a CFA on your credit prifile, making 850 impossible.

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@markbeiser I've had 850's accross all three bureaus reporting for FICO 8, FICO 9 and was very close on FICO 10T with Ford Motor Credit and multiple CFA's reporting. It's possible.. These are from last month:  

[markbeiser]

@fury1995 
Interesting, maybe on the top level of clean score cards CFA's stop hurting?
I've got FMC and One Main on my report, as well as Forsyth Capitol for my current car loan, and get negative reason codes for CFAs.

[FireMedic1]

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@markbeiser wrote:

@fury1995 
Interesting, maybe on the top level of clean score cards CFA's stop hurting?
I've got FMC and One Main on my report, as well as Forsyth Capitol for my current car loan, and get negative reason codes for CFAs.

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CFA's will still do their ding until they fall off.

[Thomas_Thumb]

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@markbeiser wrote:

@fury1995 
Interesting, maybe on the top level of clean score cards CFA's stop hurting?
I've got FMC and One Main on my report, as well as Forsyth Capitol for my current car loan, and get negative reason codes for CFAs.

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There are 10-25 points worth of buffer on Classic Fico 8/9. In other words a profile can have some flaws and still reach 850. I estimated this in 2016 by comparing Fico 8/9 industry option scores against Classic Fico 8/9 scores.

My Classic Fico 8 scores were all a solid 850 but the industry option counterparts were mostly under 900 - no buffer if under 900. I increased # cards reporting and/or card utilization. I then observed point drop on industry option scores while Classic scores maintained 850. The maximum amount of score drop on Industry option without Classic score dropping is a rough estimate of Classic 8/9 buffers. The amount of buffer differs some by CRA and model 8 vs 9. From what I've seen, the maximum potential buffer for Classic Fico 8/9 is 25 points.

Now that my profile has weakened considerably (no open loan), I can't test 850 buffer. The slightest infraction drops score from 850 on Classic Fico 8/9 can't even get 850 on TU. Not sure about EQ as I don't see those scores anymore.