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chilltocam
LIF Adult
Member since 11/11 9141 total posts
Name:
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Increasing your credit score
How do you increase your credit score when you've already done all the right things? My credit score is in very good - low excellent range, (depending on the site you get it from), but I'd like it to be higher, more solidly in the excellent range. I have zero missed payments, 4% utilization of my existing credit, no recent inquiries and I've had a credit history for 20 years. What the heck else could I do to make it a little higher? 
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Posted 9/9/16 5:55 PM  |
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Long Island Weddings
Long Island's Largest Bridal Resource |
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Re: Increasing your credit score
The only thing I can think of is using a card for daily expenses and paying it off each month? Otherwise sounds like you have a handle on things. Do you have a large mortgage? Debt to income ration may be playing into it?
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| Posted 9/9/16 9:16 PM |
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chilltocam
LIF Adult
Member since 11/11 9141 total posts
Name:
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Re: Increasing your credit score
Posted by BaseballWidow
The only thing I can think of is using a card for daily expenses and paying it off each month? Otherwise sounds like you have a handle on things. Do you have a large mortgage? Debt to income ration may be playing into it?
I do use a credit card regularly for things like gas and grocery shopping plus other expenses. We pretty much pay it off every month. And our mortgage payment is about 23% of our monthly income, so I don't think that's excessive. Just seems like there should be a way to increase it but we've done everything that you're "supposed" to do.
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| Posted 9/9/16 9:25 PM |
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LSP2005
Bunny kisses are so cute!
Member since 5/05 19461 total posts
Name:
L
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Re: Increasing your credit score
Do you have a variety of credit like a mortgage, car loan, student loan, utilities? Having taken a variety of those things and paid them off?
Utilization under 30% of available credit on a credit card?
Using credit for many years. Edit, unless you are purchasing something big, it really does not matter. The goal is above 760. If you are above that number you are receiving the best rates.
35% payment history (on time, in full, not late, no delinquencies)
30% amount owed on your accounts
15% length of credit history
10% new credit - how many new accounts have you opened
10% types of credit used - mortgage, auto, student loan, utility, credit card
Message edited 9/9/2016 10:30:33 PM.
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| Posted 9/9/16 10:16 PM |
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Dolphinsbaby
My 3 little guys!
Member since 12/10 2943 total posts
Name:
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Re: Increasing your credit score
I believe you can request an increase in your credit line.
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| Posted 9/9/16 10:27 PM |
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chilltocam
LIF Adult
Member since 11/11 9141 total posts
Name:
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Re: Increasing your credit score
Posted by LSP2005
Do you have a variety of credit like a mortgage, car loan, student loan, utilities? Having taken a variety of those things and paid them off?
Utilization under 30% of available credit on a credit card?
Using credit for many years. Edit, unless you are purchasing something big, it really does not matter. The goal is above 760. If you are above that number you are receiving the best rates.
35% payment history (on time, in full, not late, no delinquencies)
30% amount owed on your accounts
15% length of credit history
10% new credit - how many new accounts have you opened
10% types of credit used - mortgage, auto, student loan, utility, credit card
I had a car loan that was paid off last year , have a mortgage, utilities and cell phone bill, no student loans. I think it's a good mix of credit. I use credit cards regularly and pay them off for the most part each month. My credit history is +20'yrs and I've had one card for at least that long. Yes, the score is above 760, but not by much and that's what I don't get - I meet all of the criteria for "perfect" credit so why isn't it higher or how can I raise it?
Message edited 9/9/2016 11:05:44 PM.
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| Posted 9/9/16 10:57 PM |
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chilltocam
LIF Adult
Member since 11/11 9141 total posts
Name:
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Re: Increasing your credit score
Posted by Dolphinsbaby
I believe you can request an increase in your credit line.
I don't want to do that - I have more than enough credit at my disposal and such a low credit utilization percentage so I don't think that would help anyway.
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| Posted 9/9/16 10:59 PM |
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LSP2005
Bunny kisses are so cute!
Member since 5/05 19461 total posts
Name:
L
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Re: Increasing your credit score
I would check your free credit report to make sure there are no errors on your file. I wonder if it is your low usage. 4% seems low. We put everything on the card and pay it off in full at the end of the month. The only thing I can think of is length of time.
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| Posted 9/9/16 11:01 PM |
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chilltocam
LIF Adult
Member since 11/11 9141 total posts
Name:
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Re: Increasing your credit score
Posted by LSP2005
I would check your free credit report to make sure there are no errors on your file. I wonder if it is your low usage. 4% seems low. We put everything on the card and pay it off in full at the end of the month. The only thing I can think of is length of time.
We put around $2-3K on card every month (and sometime more) and pay it off so I can't see how it would be low usage. I've had at least one (and probably more) account open for +20 yrs. It says I have zero missed payments but I will check my credit report to see what's on there. What else could they want? 
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| Posted 9/9/16 11:10 PM |
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LSP2005
Bunny kisses are so cute!
Member since 5/05 19461 total posts
Name:
L
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Re: Increasing your credit score
The day you check can effect it. The more pulls you have can effect it too. What are you looking to buy that has you concerned?
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| Posted 9/9/16 11:31 PM |
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chilltocam
LIF Adult
Member since 11/11 9141 total posts
Name:
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Re: Increasing your credit score
Posted by LSP2005
The day you check can effect it. The more pulls you have can effect it too. What are you looking to buy that has you concerned?
Not looking to buy anything right now. Possibly a home equity loan within the next year. I am only checking it thru the credit card sites that provide it automatically. - not doing any credit inquiries that could effect it
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| Posted 9/10/16 8:22 AM |
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LSP2005
Bunny kisses are so cute!
Member since 5/05 19461 total posts
Name:
L
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Re: Increasing your credit score
As long as you are over 760 then you are supposed to get the best rates. I know that there are eight to twelve credit profiles based upon jobs, addresses, schooling, and other features that I have not seen published where you are compared against other people who also have a similar background. Then based upon how you are managing your credit they compare you on their 8 to 12 criteria.
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| Posted 9/10/16 2:12 PM |
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LSP2005
Bunny kisses are so cute!
Member since 5/05 19461 total posts
Name:
L
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Re: Increasing your credit score
An article I thought you would find interesting
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| Posted 9/11/16 9:28 PM |
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hmm
Sweet
Member since 1/14 8014 total posts
Name:
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Increasing your credit score
its sound to me like you should have good crd. Why are you trying to increase it?
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| Posted 9/11/16 10:17 PM |
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chilltocam
LIF Adult
Member since 11/11 9141 total posts
Name:
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Re: Increasing your credit score
Posted by hmm
its sound to me like you should have good crd. Why are you trying to increase it?
It hovers on the edge of the "very good" and "excellent" range. I would like to have it be solidly in the "excellent" range. I feel like I've done everything to have "excellent" credit and am trying to figure out what else I can do
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| Posted 9/12/16 7:13 AM |
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