Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 11-03-2014, 06:36 AM   #41
Thinks s/he gets paid by the post
Senator's Avatar
 
Join Date: Feb 2014
Location: Eagan, MN
Posts: 3,048
Quote:
Originally Posted by target2019 View Post
Today I checked Penfed and they report that my FICO is 860. So I feel good that it is over 800, but don't really think that 860 is worth any more than an 800 to me.
A true FICO score, as issues by the Fair Isaac COmpany, only goes to 850. There are many flavors of credit scores, some of which go to over 900.

There are several types of FICO credit score: classic or generic, bankcard, personal finance, mortgage, installment loan, auto loan, and NextGen score.
The generic or classic FICO score is between 300 and 850, and 37.2% of people had between 750 and 850 in 2012.[9] According to FICO, the median FICO score in 2006 was 723, and 711 in 2011.[10]
The FICO bankcard score and FICO auto-enhanced score are between 250 and 900. The FICO mortgage score is between 300 and 850. Higher scores indicate lower credit risk.

http://en.wikipedia.org/wiki/Credit_..._United_States
__________________

__________________
FIRE no later than 7/5/2016 at 56 (done), securing '16 401K match (done), getting '15 401K match (done), LTI Bonus (done), Perf bonus (done), maxing out 401K (done), picking up 1,000 hours to get another year of pension (done), July 1st benefits (vacation day, healthcare) (done), July 4th holiday. 0 days left. (done) OFFICIALLY RETIRED 7/5/2016!!
Senator is online now   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 11-03-2014, 07:04 AM   #42
Recycles dryer sheets
 
Join Date: Dec 2012
Posts: 221
Since I likely will have a no need for credit in the coming years, I consider a credit freeze a no brainer. You might check with your bank or credit card company. My bank posts my credit score for free on a quarterly basis.
__________________

__________________
davismills is offline   Reply With Quote
Old 11-03-2014, 07:35 AM   #43
Full time employment: Posting here.
 
Join Date: Oct 2006
Posts: 525
Quote:
Originally Posted by braumeister View Post
When I login, on the Main Menu there is a box at upper left (just below today's date) that says

Click that and there you are.
The credit score link on the Penfed site is not available to me because I only have CD's thru them. From their website:

New Feature on PenFed Online Banking Site Provides Free Access to ‘FICO® Score’ to Eligible Members

PenFed partnered with FICO to develop and integrate the ‘FICO® Score’ feature into its online banking service. The benefit is available for free to PenFed members that have active checking accounts, installment loans, and revolving lines of credit with the credit union.
__________________
***********
My motto is.... "a dollar saved is better than a dollar earned. I don't pay tax on the dollar I saved."
Tom52 is online now   Reply With Quote
Old 11-03-2014, 08:06 AM   #44
Thinks s/he gets paid by the post
 
Join Date: May 2014
Posts: 2,984
Quote:
Originally Posted by FUEGO View Post
I tend to apply for a lot of credit cards to get thousands of dollars of sign up bonuses. Having a top notch credit score is helpful.
Yeah, DH and I do that a lot. I just tell him which cards to put into the sock drawer and which to keep in his wallet, and he enjoys the Business Class flights and the nice hotels that we get as a result! We've gone to straight cash back ones now for more flexibility. I had to laugh at the lady who told me when I called to cancel my AA credit card that if I didn't keep my AAdvantage account active I could lose my miles. They sell miles to everybody and anybody which is why they're losing value. I once rescued 100K points in DH's account from expiring by buying a $15 iTunes gift card. He used the miles on our trip to Madrid.
__________________
athena53 is offline   Reply With Quote
Old 11-03-2014, 08:37 AM   #45
Thinks s/he gets paid by the post
target2019's Avatar
 
Join Date: Dec 2008
Posts: 3,705
Quote:
Originally Posted by Senator View Post

A true FICO score, as issues by the Fair Isaac COmpany, only goes to 850. There are many flavors of credit scores, some of which go to over 900.

There are several types of FICO credit score: classic or generic, bankcard, personal finance, mortgage, installment loan, auto loan, and NextGen score.
The generic or classic FICO score is between 300 and 850, and 37.2% of people had between 750 and 850 in 2012.[9] According to FICO, the median FICO score in 2006 was 723, and 711 in 2011.[10]
The FICO bankcard score and FICO auto-enhanced score are between 250 and 900. The FICO mortgage score is between 300 and 850. Higher scores indicate lower credit risk.

http://en.wikipedia.org/wiki/Credit_..._United_States
No matter the scale, I feel comfortable with what penfed calls a FICO score. It is the nextgen version, but not entirely obvious when you see the graphic.
__________________
target2019 is offline   Reply With Quote
Old 11-03-2014, 09:23 AM   #46
Full time employment: Posting here.
martyp's Avatar
 
Join Date: Sep 2010
Location: Bangkok
Posts: 963
I don't really pay attention to it very much. I check it out every 4-5 yrs. The only debts I've had are car, house, and 1 credit card with the same bank for 30 years. I always paid on time and my credit score reflected that. It is worth doing more often if your financial life demands it. It does seem to matter more and more these days.
__________________
Happy, Wild, and Free
martyp is offline   Reply With Quote
Old 11-03-2014, 09:33 AM   #47
Thinks s/he gets paid by the post
RetireAge50's Avatar
 
Join Date: Aug 2013
Posts: 1,120
We review our credit report about once per year via annualcreditreport.com just to make sure it is accurate. The score costs extra money so have never paid to see it.


Sent from my iPhone using Early Retirement Forum
__________________
RetireAge50 is online now   Reply With Quote
Old 11-03-2014, 10:37 AM   #48
Thinks s/he gets paid by the post
nash031's Avatar
 
Join Date: Jun 2013
Location: Coronado
Posts: 1,486
Quote:
Originally Posted by Lakewood90712 View Post
If you have a discover credit card, it is reported to you on every bill.
Yep. Even though I don't intend to ever use a loan again (currently have a mortgage and my wife's got a student loan we're still paying on), I want to know it because of the implications on identity theft, etc. Discover lets me see it whenever I want!
__________________
"So we beat to our own drummer in the sun;
We ask for nobody's permission to run.
I just wanna live in a world like that;
Now I'm gonna live in a world like that!" - World Like That, O.A.R.
nash031 is offline   Reply With Quote
Old 11-03-2014, 11:17 AM   #49
Full time employment: Posting here.
HawkeyeNFO's Avatar
 
Join Date: Jan 2010
Location: Inside the Beltway
Posts: 573
Mine depends on where I look. Barclay credit card says it is 817. PenFed says it is 674. Both are from FICO - "the score lenders use."
__________________
HawkeyeNFO is offline   Reply With Quote
Old 11-03-2014, 12:04 PM   #50
Recycles dryer sheets
arky's Avatar
 
Join Date: Jan 2012
Location: Colorado
Posts: 236
Quote:
Originally Posted by braumeister View Post
When I login, on the Main Menu there is a box at upper left (just below today's date) that says

Click that and there you are.
Thanks for the response, but my account page does not have that FICO choice. One must have to take advantage of some service (loan, credit card,etc) to warrant that feature.
__________________
Don't you know that dynamite always blows down ? --- Moe to Curly
arky is offline   Reply With Quote
Old 11-03-2014, 12:31 PM   #51
Moderator
Sarah in SC's Avatar
 
Join Date: Sep 2005
Location: Charleston, SC
Posts: 13,456
If you use Mint, they are also offering the score.
I qualify at Barclays to get my score as well.
They are kinda close, as is the one at CreditKarma, which I also use.
And thrice yearly, I check the credit reports.
Like Fuego and athena, I am an active mileage hound for various cards, so have to keep up with it a bit more than most folks.
__________________
“One day your life will flash before your eyes. Make sure it's worth watching.”
Gerard Arthur Way

Sarah in SC is offline   Reply With Quote
Old 11-03-2014, 12:33 PM   #52
Recycles dryer sheets
 
Join Date: Oct 2013
Posts: 281
Yes and No. It's up there, but we have not financed anything in over 20 years, nor can I envision us ever doing so again, so it's pretty much a non-issue for us in FIRE.

We live in a state that prohibits usage of credit or financial scores for insurance rate setting purposes, so no issue there either.
__________________
RetiredAndFree is offline   Reply With Quote
Old 11-03-2014, 02:24 PM   #53
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
mickeyd's Avatar
 
Join Date: Apr 2004
Location: South Texas~29N/98W
Posts: 5,881
I never cared what my CS was until a few years ago I applied for a 0% loan with Toyota for a new car that I was planning to pay cash for. I was advised I had a FICO score of something like 828. Guy at the dealership said that this was the 2nd highest score that he had ever seen.

Discover has my updated score on the website. last time (only time) I checked it was around 830. I don't plan on taking a loan soon so the score is kinda wasted on me.

Anyone care to buy it from me?

Let the bidding begin.
__________________
Part-Owner of Texas

Outside of a dog, a book is man's best friend. Inside of a dog, it's too dark to read. Groucho Marx

In dire need of: faster horses, younger woman, older whiskey, more money.
mickeyd is offline   Reply With Quote
Old 11-03-2014, 04:52 PM   #54
Dryer sheet wannabe
 
Join Date: Oct 2014
Location: Puget Sound Area
Posts: 19
Senator's right. There are many variants of the Fair Isaac Company credit score. Aside from all the rebranded "scores," FICO itself changes the game once in awhile.

FICO announced this calendar year that the new version of their scoring algorithm - version 9 - will be available to credit reporting agencies.

FICO Score 9 Introduces Refined Analysis of Medical Collections - FICO


Under FICO 8, my score is 832 or 834 depending on which credit reporting agency you ask.

Under FICO 9 - which isn't being used by any of the BIG THREE yet - my score will drop 28 points across the board. I got this info by paying a small fee to http://www.myfico.com to discover what v9 will do to my credit score.

Oh, and I check mine annually.

-Jon
__________________
jonc is offline   Reply With Quote
Old 11-03-2014, 05:14 PM   #55
Recycles dryer sheets
 
Join Date: May 2011
Location: Maple Valley
Posts: 465
Yes and yes. Mine is 826 an DH is 816. Excellent by Fico standards.
__________________
kimcdougc is offline   Reply With Quote
Old 11-04-2014, 08:08 PM   #56
Thinks s/he gets paid by the post
ExFlyBoy5's Avatar
 
Join Date: May 2013
Posts: 1,977
I check my score on occasion through Credit Karma just to make sure nothing is amiss. I have all my credit frozen and when I last applied for a card I was able to give the CSR my pin and they could "thaw" it for just that transaction. I didn't notice until today that you can "compare" your score with other members. I figured my score was pretty good, but not this much better than my peers!
Attached Images
File Type: jpg CC.jpg (90.9 KB, 12 views)
__________________
Founder and Head Lounger @ The Life of Leisure Institute
Retired in 2014 at the Ripe Age of 40.
ExFlyBoy5 is offline   Reply With Quote
Old 11-05-2014, 06:38 AM   #57
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Amethyst's Avatar
 
Join Date: Dec 2008
Posts: 5,886
Your young age (36-40) likely has something to do with it. A similar score for an older age group does not get the same amazing percentile

(Could that mean deadbeats don't live as long?)

Amethyst

Quote:
Originally Posted by FlyBoy5 View Post
I check my score on occasion through Credit Karma just to make sure nothing is amiss. I have all my credit frozen and when I last applied for a card I was able to give the CSR my pin and they could "thaw" it for just that transaction. I didn't notice until today that you can "compare" your score with other members. I figured my score was pretty good, but not this much better than my peers!
__________________
If you understood everything I say, you'd be me ~ Miles Davis
'There is only one success – to be able to spend your life in your own way.’ Christopher Morley.
Amethyst is offline   Reply With Quote
Old 11-05-2014, 08:45 AM   #58
Thinks s/he gets paid by the post
ExFlyBoy5's Avatar
 
Join Date: May 2013
Posts: 1,977
Quote:
Originally Posted by Amethyst View Post
Your young age (36-40) likely has something to do with it. A similar score for an older age group does not get the same amazing percentile

(Could that mean deadbeats don't live as long?)

Amethyst
Ha! I don't really give too much credence to credit scoring anyway. One of the areas they score are credit utilization. I was recently scored a "C" in this category since I had an overall credit available line of $130K'ish but was only showing that my balances were only about $400 and so my utilization was actually TOO LOW. That's just crazy in my opinion!

The only reason I even care about it is for insurance prices as well as taking advantage of good credit (cash back) CC offers. If all goes well, I will have made around $1,000 this year in cash back/new customer promotions.

I do assume this might change a bit...I am not so sure that Amex would have approved me for the platinum card if I was retired with a good reduction in reported income.
__________________

__________________
Founder and Head Lounger @ The Life of Leisure Institute
Retired in 2014 at the Ripe Age of 40.
ExFlyBoy5 is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Credit Scores calmloki Other topics 22 01-04-2008 06:51 PM
Obscure Credit Scores jazz4cash FIRE and Money 4 11-26-2007 12:03 PM
Average credit scores by state calmloki FIRE and Money 33 11-18-2007 08:09 PM
Divorce and Credit scores clifp FIRE and Money 24 11-13-2007 10:13 PM
Question about credit scores David1961 FIRE and Money 28 10-06-2007 11:34 AM

 

 
All times are GMT -6. The time now is 09:12 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.