Highest possible credit rating?

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A friend here who runs a used car lot had a woman tell him that her credit score was over 1000.



Turns out the had added up the 3 different scores
 
I know someone with an 811 and has little trouble getting a++ ratings.

I think anything over 700 is considered good but I could be wrong.
 
I think that the max is 860. Somebody over on the other forum also said the the max is 850 as GNBrett said, but they also said that there is a hidden low and a hidden high that the credit rating companies use but do not release. They stated that the max under that system is 900, and the low is something extremely low like 300. I'll bet that you know somebody higher than 811, Ty, but you probably just don't like to brag about it. Somebody over on the caddy forum also said that anything over 700 is good or great, but I think that I saw something on MSN the other day that implied that the 700 figure has been raised to 750.
 
i would like to know how this # really works. does income # play a big roll?
 
BTW, it is not a good idea to check your credit rating very frequent.
 
Gary Wells said:
BTW, it is not a good idea to check your credit rating very frequent.
Click to expand...

Elaborate on this please. I check my credit score at least 2x a year myself. Last i time i checked it was 817. Checking your own credit score does not count as an inquiry. If a creditor checks then thats different, but it still wont effect it much unless you have more than 2 creditors making inquiries within a year. Ive heard of credit scores as high as 860 but they could have been full of chit. My fathers credit score was 830 last year. Thats the highest ive officially seen. Anything over 680 will get you the best rates in most places. Over 750 and your signature is golden with any creditor unless your debt to income ratio is out of whack which is very common with the spending habits of Americans.
 
Boost231 said:
i would like to know how this # really works. does income # play a big roll?
Click to expand...
Income plays zero role in your credit score directly. Plenty of non working people out there that have super credit scores. Indirectly it will effect your ability to get initial credit or raise your score because you often need to show proof of income to get loans and credit lines that will be paid off (or not) and raise your score to the next level (or lower your score).
 
Heres a good read on achieving a high credit score: Perfect credit? You don't need it - MSN Money

It amazes me how many a$$holes in the last 10 years tell me my credit score will be lower than it could be because i dont carry revolving balances or have loans i owe on showing on my credit report:rolleyes:. I dont even bother mentioning my credit score to them. I think they are just jealous because they owe a bunch and want to justify in their mind that they need to keep the debt high or their credit score will drop:rolleyes:. All i can say to that is you are a F%&^*$*% moron. News flash. If you owe over 25% of your available your credit score is being hit hard. More than 50% and you can forget about having a score over 750.
 
why do they compare debit to credit ratio? i have closed a one of my cc because of the high % rates. however my current debit it about 4K on one CC that im paying off in about 800 payments every 2 weeks and one is my motorcycle thats at 13K which i pay more then the min. now with that being said i have 3 CC with 0 balance and since they have 0 ballance my credit limits with those cards have been lowered (not sure why). Example once i paid of my chase card they took my credit limit from 8K to $500(fu Chase).

now i run my credit and it shows 51% credit to debt ratio. now that sucks, just because i paid off my credit cards and you lower my credit limit and i dont have a ass load of credit cards with high available balances it shows my ratio like this. now my income to debit ratio is nothing but still. my score 724 as of a few months ago. i have since paid down 3K more off my cc to drop it to 4K. so from the reading i have done, never close an account. keep that account open so you can have a lower % of debit to credit ratio. wish i would have know this :mad:. now that i think of it, even if i pay off my last cc that has 4K on it, my % will still be up since i o 13k on my bike even tho thats the only debit i have.

man f those credit card people. i just found out that chase took my credit limit down when i was typing this. i swear chase is crap. the reason i paid my debit off with them is because out of the blue when they bought out WAMU they jacked my APR to 30.99% without telling me so i paid it off that day. now i check it and they lower my credit line :mad: o well
 
bison said:
Elaborate on this please. I check my credit score at least 2x a year myself. Last i time i checked it was 817. Checking your own credit score does not count as an inquiry. If a creditor checks then thats different, but it still wont effect it much unless you have more than 2 creditors making inquiries within a year. Ive heard of credit scores as high as 860 but they could have been full of chit. My fathers credit score was 830 last year. Thats the highest ive officially seen. Anything over 680 will get you the best rates in most places. Over 750 and your signature is golden with any creditor unless your debt to income ratio is out of whack which is very common with the spending habits of Americans.
Click to expand...
Here is what I was told last year by the Cadillac dealership salesman, which pretty much goes along with what you just posted. You can check your credit score 1 or 2 without penalty, and a creditor can check your credit score a couple of times but any more than that and they deduct 5 points every time you or somebody else checks your credit score past a certain amount of times 2 & 2 a year.
My credit score was a perfect 860 up until last year when B of A needed a reason to cut my credit card in half, so mysteriously my & 165.00 approximate payment which was sent 2 weeks in advance of due date was received by B of A 2 days late, and consequently my credit score was reduced to 858, which is where it is now as far as I know. I don't hold it against them for cutting my credit card in half, but I do hold it against them for the way that they went about it.
I have had that credit card for about 12 years and never missed a payment other than that mentioned above, and I have never carried any balance over to the next month. Regardless of what my credit card bill is I immediately go to B of A and pay it in person. Always, never miss.
Other than what B of A screwed me with a late payment, I have never paid 1 cent of interest in the last 40+ years. I financed a truck back in '64 or so, and that is the last interest that I have ever paid.
Not a brag, just straight fact, and Ty will tell you that I never lie.
I paid cash on my new Cad CTS-V last year, and the dealership wigged out when I refused to let them run a credit check on me. After I bought the car, I asked the salesman if he would do a credit check for me. He told me that he had never heard on any credit score anywhere near mine, and at 1st, he did not believe it.
I was extremely proud of myself when I found out that I had a perfect score of 860, up until B of A did not want me running around with a $25K card, considering that I only generally run up my bill to about $ 300 each month.
 
bison said:
Income plays zero role in your credit score directly. Plenty of non working people out there that have super credit scores. Indirectly it will effect your ability to get initial credit or raise your score because you often need to show proof of income to get loans and credit lines that will be paid off (or not) and raise your score to the next level (or lower your score).
Click to expand...

Feasibly the highest credit score is 1000 and the lowest is 100. I hate to admit it but I sold cars for a very short time.:redface: It tought me more about money and credit than I ever thought. You're income level is considered, believe me. You can actually have to much credit to get a good rate on interest. You can also have issues with the income compaired to your debt. The highest rate I ever saw was a 910 and it wasn't combined. Unfortunatly the "credit" department decided to fudge the numbers and I'm sure she screwed up her credit because of it. This was the final straw for me. That was one of many that I would have no problem testifying to if I was ever asked to. The dealership is closed now and I'm sure several of the higher ups are spending time where they belong or are at least broke.
 
charlief1 said:
Feasibly the highest credit score is 1000 and the lowest is 100. I hate to admit it but I sold cars for a very short time.:redface: It tought me more about money and credit than I ever thought. You're income level is considered, believe me. You can actually have to much credit to get a good rate on interest. You can also have issues with the income compaired to your debt. The highest rate I ever saw was a 910 and it wasn't combined. Unfortunatly the "credit" department decided to fudge the numbers and I'm sure she screwed up her credit because of it. This was the final straw for me. That was one of many that I would have no problem testifying to if I was ever asked to. The dealership is closed now and I'm sure several of the higher ups are spending time where they belong or are at least broke.
Click to expand...

All true but income has no direct effect on FICO scores. Your income is considered when you are trying to get credit. Fwiw i will be unemployed as of April 13 and if i check my credit score in 6 months im sure it will still be right around 817 even though my income will be less than half of what it was even if im still unemployeed at that time.
 
The only thing I have as far as credit cards are to stores. My credit score is perfect, I know for a fact its over 800. I can buy anything my income allows, which can easily blow up in my face and I'm still workin to get out of it. I've gotten lucky so far and been able to make every single payment on time. I am almost debt free now aside from the 3 car loans I have. Good thing I don't pay much for a house payment;)
 
Gary Wells said:
Here is what I was told last year by the Cadillac dealership salesman, which pretty much goes along with what you just posted. You can check your credit score 1 or 2 without penalty, and a creditor can check your credit score a couple of times but any more than that and they deduct 5 points every time you or somebody else checks your credit score past a certain amount of times 2 & 2 a year.
Click to expand...
Ive checked my credit score countless times in the last 12-15 years and i never saw any of the inquiries i made myself listed on my credit report. Only inquiries made by creditors were listed. I dont see how its possible to effect you if its not on there. Chances are the salesman meant well but he is wrong based on what ive experienced. Chances are the salesmans credit score was not anywhere near as good as yours either:biggrin:
 
usetaboost said:
The only thing I have as far as credit cards are to stores. My credit score is perfect, I know for a fact its over 800. I can buy anything my income allows, which can easily blow up in my face and I'm still workin to get out of it. I've gotten lucky so far and been able to make every single payment on time. I am almost debt free now aside from the 3 car loans I have. Good thing I don't pay much for a house payment;)
Click to expand...

Why would you want to have 3 car loans?
 
Well 3 cars on one loan I should say. Long story short. Bought the buick, borrowed against it to buy another buick. Sold that buick and payed doctor bills. Bought the trans am. 2 yrs later still paying on the buick and trans am, I bought the truck and had to use the trans am to get the truck. 3 more years and it's all mine BWAHHAHAHA;)
 
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