[USER]

Credit score question. I cannot get my score above 700. I have no late payments, one credit card, car payment and mortgage.

Same job 25 years.

Would opening another credit card truly improve my score?

The loan officer at my bank is even baffled after looking over my credit report!

[Zack]

– Keep asking for credit card limit increases every 6mo to 1yr.
– Have multiple active accounts (credit card, mortgage, car loan, etc)

– Pay credit card interest one time in your life, even if it’s only on a $100 balance.

– never exceed 25-30% of your credit. Keeping under 10-15% is even better

– try to have no more than (2) “hard pulls” yearly

[Stephanie]

What is your debt to credit ratio. That can play a factor as well

[Jule]

Make sure to keep your credit card balance under 1/3 of the limit. Otherwise the high utilization will affect you negatively.

If necessary, increase the limit to help with that.

[Krystall]

You have to play the game. Use multiple cards and pay cards to show activity.

Otherwise, it won’t move much.

[Scott]

Do you have poor payment history within 7 years? Do you carry a high balance vs.

your total available credit.

Do you infrequently use debt?

Do you have multiple credit inquiries?

Have you recently closed multiple credit lines?

No need to answer, these are just some areas to look at…

[John]

Have you tried credit karma or any other credit app? That may give you a clue.

How about your credit card usage?

If it shows a high balance to limit, it can be a problem even if you pay in full.

Try paying it down just before statement close and see what happens.

Another issue can be credit pulls, too many over pay 2 years can hurt your score.

[Best]

Try having your credit card company increase your limit to help your debt to income ratio.

Also, try charging something you normally pay for in cash or debit and pay off the balance on or before the payment is due.

[Molly]

It’ll take 6+months, but, yes. Up to 4 lines of credit can help your score, especially when you use ~30% and pay in full monthly.

[Rebecca]

If I had to guess, it might be utilization. You want to use a pretty low % of available credit, but more than 0%.

Credit karma is a free app that will show you the factors that affect your score and how.

[Mark]

It’s all about credit utilization. Easiest way to increase ur score is to ask for credit card increases.

Ur utilization will automatically go down.

[Bob]

Get a report from each of the credit agencies and review it. Make sure it’s accurate and challenge anything that’s not.

[Matthew]

Have a variety of credit accounts. Keep your debts and use of your credit low.

Pay on time consistently, you can simply put recurring bills on credit cards and have them be automatically paid off.

Never close your credit accounts.

Don’t let your credit get pulled more than a couple times a year. Then simply keep doing the same thing and wait.

My score is 826.

What it boils down to is get as much credit as possible slowly over time, use only a little of it but don’t depend on it, pay it off on time, and wait.

It’s not going to rise quickly but it will go up.

[Monique]

Download Experian app. They give your score for free. It will explain what’s hindering it and correct there.

Don’t sign up for any of their services, just get the free app.

[Author]

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