Compare your credit habits to those of FICO high achievers
A credit score of +800 is within your reach! Learn how to improve your credit score from the 40 Million Fico “High Achievers”.A recent myFico.com study compared credit habits of 40 Million consumers with credit score above 800 to the rest of the population. As clearly visible from the table below, consumers with high credit score exhibit strikingly similar credit habits. Compare those habits with yours!
| FICO above 800 | FICO below 650 | ||
| Account History | Average age of newest credit card account | 11 Yrs | 6 Months |
| Age of oldest account | 25 Yrs | 12 Yrs | |
| Average balance carried on credit card | $8,500 | $25,000 | |
| Average credit utilization (amout of credit used compared to credit limit) | 7% | 100% | |
| Timely Payments | Percent of consumers who pay ALL their payments on time | 96% | Less than 10% |
| Percent of consumers with amounts past due | Less than 1% | 68% | |
Remember:
Although negative items stay on your credit report for 7 1/2 years, most of your credit score (70%-80%) is made up by credit history from the past 2 years.
Just keep making on time payments and good credit will come with time.
Credit scores can easily take 2 years to develop. Just give it time.
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