Surprise surprise! my FICO score reached an all-time high this month. I am now at 813. It’s so satisfying that our personal finance habits, the habit of handling credit responsibly has paid off. I have posted several articles on improving credit score. Today I’ll write about my credit score, how it reached 813, the factors that went in my favor, also the ones that’ll have to be improved further. Let’s first start with what’s on FICO.
My FICO Credit Score report
Congratulations – You have an exceptional FICO® Score. The below factor(s) are informative but not significant as they represent very marginal areas where your score was adversely affected. Keep up your good financial habits! Key Factor(s) affecting your FICO® Score:
- Too many inquiries last 12 months – Each time you apply for credit a credit inquiry is added to your credit report. People who are actively seeking credit pose more of a risk to lenders than those who are not. Your FICO® Score was lowered due to the number of credit inquiries within the last 12 months.
- Length of time accounts has been established – People who do not frequently open new accounts and have longer credit histories generally pose less risk to lenders. In your case, the age of your oldest revolving account and/or the average age of your accounts is relatively low.