How High for My Score

[I Is Broke]

What is the highest your credit score can be with Bankruptcy still list on it?

I filed Chapter 7 five years ago and my scores are:

Experian 729
Equifax 732
TransUnion 743



My is 775 by the end of 2010. Do you think I can reach 800 with the Bankruptcy still on my record?

[CCsAreEvil]

Why do you really care? What's the point? I would think anything over 740 wouldn't matter much, right?

[AMISLANDER]

With scores like that, I would second the "what does it really matter" school of thought.

I'll be two years out the end of next month & have no idea what my scores are & don't really care. I would guess they're over 700 due to the credit I've currently been building & the ease at which I got a new card.

However, with the new cc laws about to drop, I want as little cc debt as possible in lieu of building credit at this point in time.
;

[I Is Broke]

Please answer the original question. Your opinion is not appreciated.

I am trying to send financial goals and wondering how high I should set my goal.

Is it realistic to think I can get all three above 750 by the end of the year? Is 800 realistic?

[RainMoM]

Please answer the original question. Your opinion is not appreciated.

I am trying to send financial goals and wondering how high I should set my goal.

Is it realistic to think I can get all three above 750 by the end of the year? Is 800 realistic?

Here is my opinion .. your doing great after 5 years, if you get over 800 awesome .. if not so be it

[lrprn]

Please answer the original question. Your opinion is not appreciated.

I Is Broke, this whole forum is about giving opinions. If you already had an answer in mind that is the only one you will accept (in this case, yes you can get an 800), then why post the question at all?

And by the way, the unwanted opinions you've received so far are right on the money. The majority of us here have escaped the credit scores game with their secret calculations and have no wish ever again allow a credit score to determine our worth as human beings. If your self-esteem requires an 800 credit score and nothing else will do, then good luck to you.

[NanaOf11]

IMO goals are important & if in making these goals or obsessing over a credit score keeps you in check, MORE POWER TO YOU!!

We are all different... what workes for one may not for another IMO.. your goal of 775 is realistic from where you are now!

I am very interested in your scoring. How are you building may I ask?

[I Is Broke]

I can see this site is not very friendly. I am looking for facts and not opinions. I am looking at how others achieved goals, not how they "think" they should reach goals.

Why can't people give me a fact inside of an opinion?

[NanaOf11]

I can see this site is not very friendly. I am looking for facts and not opinions. I am looking at how others achieved goals, not how they "think" they should reach goals.

Why can't people give me a fact inside of an opinion?

On the contrary...this site is very helpful & friendly. It is however a give & take! You know the friendly part anyway.....

[lrprn]

Why can't people give me a fact inside of an opinion?

Probably because there aren't any cold, hard facts to share for the question you asked about when your credit score can hit 800 after filing. That depends on a secret process and calculations that no one knows but FairIssac.

I regret you feel we are not being friendly just because we can't produce the exact answer you want to hear and did provide some truths about credit after bankruptcy that you didn't want to hear.

As I've already said, good luck reaching your credit score goal. Your personal journey doing so will not be exactly like any other member's has been because your credit history before and after filing are unique to you. That has a large impact on how rapidly or slowly your score climbs. I hope you reach whatever goal you've set for yourself.

[HHM]

Plus, your question is non-sense.

How high your credit score is has N-O-T-H-I-N-G to do with financial goals. As was stated, once you get over 740 it doesn't matter, there is no loan or lower interest rate that you get by being 800+. Tier 1 is 740 or better, above that, there are no brownie points for being higher. But to address your question, realistically, getting over 800 after a BK is probably not realistic, reason being, "credit history". For all intents and purposes, a BK resets the clock on the "length of credit history" which is a very important factor in your credit score. Since you discharged all your previous debt, you don't have much of a credit history for credit scoring purposes. It is not impossible to get over 800 post BK, but I wouldn't expect you will see that number anytime soon, if ever. Even people with 20 years credit history, various loan types, and average credit usage don't get 800+ scores. Bottom line, it is the wrong goal.

Is having an 800 credit score going to mean you save more money? Is having an 800 credit score going to lead to an increase in income? Is having an 800 credit score going to allow you to cut unnecessary expenses?

You have the wrong goal, your credit score is actually fairly meaningless.

If you have money, you don't need credit. Focus on making money, not a 3 digit number that is mostly out of your control and doesn't matter. Do you plan on having your credit score put on your tomb stone; do you actually sit around with friends and family and talk about your credit score (I hope not).

Here are two good articles that provide some perspective on credit scoring.
Four Reasons Why Your Credit Score Doesn't Matter
Credit Score Hysteria; A Disease Worse Than Bankruptcy!

[StartingOver08]

If you are interested in measuring your score, make sure it is the 'right' score.

There are several different scoring models used by CRA's selling different scores now.

FICO scores are generally only available at myfico.com now. Most of the other agencies are selling their own scores!

The scores that are being reported at TrueCredit (for example) are Vantage Scores which have a different scale. That scale that is 501 to 990. It is supposed to measure different things and if you believe the press releases, be a "better" model! LOL. However, the banks and lenders do not use the Vantage score, they use the FICO score...so it is just a way to sell you something that has no mathmatical relationship to the score that lenders use to determine your ability to repay a loan.

Personally, my goals have to do with my actual financial position which has very little to do with my score. But if you are looking to get your score into the highest bracket, try some of the credit boards that specialize in doing some of the same things you are looking to accomplish. Try creditinfocenter.com for one and there are other boards too. Good Luck!

[AMISLANDER]

Please answer the original question. Your opinion is not appreciated.

I am trying to send financial goals and wondering how high I should set my goal.

Is it realistic to think I can get all three above 750 by the end of the year? Is 800 realistic?

Sorry this is an opinion based board.