My credit is now 750. I listened to my mortgage lender’s advice and followed it to a T. Get two accounts of revolving credit, two secured cards are fine. Then spend 8% or below each month on each, pay it off in full when it’s due. Now the only downside is you won’t get huge credit amount increases on the cards quicker but your credit will go up quickly, it only took 7 months for mine to go up from N/A to 750. Credit is finicky though honestly, each model has it’s own variations (trans union, fico…etc).
A. Keep it at 10% instead. B. Don’t open any new accounts. C. Don’t close any old credit cards. Sometimes, it just takes time for your credit to age. Because you are young, there isn’t much you can do about that side of things.
Mine did go up after I bought my first house as well. That isn’t a reason to buy a house though.
750-780 is respectable.
For optimal credit score: two ‘store’ cards and a bank card, don’t miss a payment, or pay one late, ever.
One mortgage and one car loan.
First of all, close credit card accounts that you dont use. This is your spending capacity. Pay off credit cards you do use. Take out a loan from your bank and make the monthly payments. It will take time, but your credit rating will go up
Diversity helps…credit card…car loan…mortgage. stay away from retail cards…retail cards usually carry a low credit limit. Pay on time…keep low balances…grow your credit slow and steady. Applying for too much credit will lower your score. If you have several cards rotate and try to use them often…ofcourse…pay off the balances so you wont get yourself in debt. Apply for credit only as needed because credit requests will lower your score but it will come back after a few months. In my experience a car loan will boost your credit after the first year of the loan. Good luck…be patient. Oh…and never…never…never close an old credit card account… If you close it…your history will be erased with it and history is what will get you a high score.
If you’re in a 750 to 780 range that’s really not that bad especially if you’re closer to 780
First Premier bank, credit one, even burke’s, maurices, stage
Follow Dave Ramsey he will explain how cash is king and credit scores aren’t important
Also make sure the cards are in your name as well as a car loan. That is the only way you will have good credit.
Go read Dave Ramsey… seriously it will change your life… my hubby and I have not had a credit card in 8 years… pay cash for everything… and we are building a brand new house… good luck
Credit Karma helped me quite a bit!
Fingerhut , best way to start and it’s easy and gives you the little boost you need!
Use tinder and get yourself a SugarDaddy!
Make sure you dont have to many accounts.
Credit karma helped me go from 520 to 750 In 2 years.
Invest… tax free saving and retirement planning. You will always have bills.
Learn from Dave Ramsay
Take out small loans and pay them back
Get a store credit card.
Above 700 is good…get rid of small cards…keep up ur big paymenta such as cars debt
Check your credit report, someone may have opened accounts in your name
Try SELF helped ours alot
I don’t have credit cards
So not even building up a balance is useless too…
Use the self app my life saver for my credit
Some things that really helped us create credit was big items such as a new washer and dryer. It rose really fast. We don’t really charge alot, but every once in a while we do just to keep the score up. My husband will get thinks from Lowes like a new grill etc and we have kept perfect credit since. Oh, and we always pay right when due.
forget about credit! pay cash.
If your credit scores are 750-780, you have better credit than most. My score is over 800 and I pay my credit cards off monthly and have only my mortgage and student loans. Credit Karma can show in some ways why your score is what it is. How long you’ve had your credit (longer the better), number of inquiries (keep them low), debt to available credit (keep under 30% cumulative and keep individual cards under 20% of limit). Scores can vary in the short terms for a number of reasons. Don’t pay late! Once you hit 30 day past due, you’ll see your scores drop and possibly dramatically.
They look at your debt to income ratio . Keep cards low and try not to acquire to much credit . Don’t cancel cards , it looks the same as defaulting on the payments . Only use cards as an emergency.
When I was rebuilding my credit after my divorce I got a secured credit card and was able to build my credit really fast . I would charge like $100 then pay ,$50 the first month then $25 the next month etc … they like to see a small balance so you can prove you are responsible to make monthly payments and live within your means
When I had an auto loan I would split my payment into 2 and pay Bi-weekly. It helped me budget better and also ends up being an extra payment in the end. Some places will even allow it to be done weekly as an auto deduction from your account. It helped me pay off my last 2 car loans earlier by cutting down the interest paid. When I got my house refinanced, it was less then $100 more to go with a 15 yr loan rather then a 30 yr. We also pay that Bi-weekly and now our house will be paid for by the time we are 60. (Only 8 more years!) I started out by getting one credit card, it was a Walmart card. The ONLY thing I used it for was for Gas. It gave me a discount at the pump. And then I would make a payment and then pay it off. I just kept repeating this always being on time since it was only for gas and my credit built up pretty fast. Closing any accounts you have open will hurt your score. Even when the credit card company closed on me for non-use it dinged my credit score. Good luck and kudos to wanting to improve. I also have always listen to Dave Ramsey and read his books. Also Howard Clark is another great financial advisor I love.
I worked as a credit manager for the most recognized bank in the world. The one way to build your credit is to pay the minimum amount due for 2 months then call and ask for your pay-off balance, due to your daily interest, unless you ask for the calculated pay-off balance you’re not fully paying it off, pay that off over the phone. Ask if there is any lower interest rate available, sometimes there is, but do not ask for an increase in credit and don’t keep pulling your credit report because your credit score takes a hit any time a creditor does a hard pull, meaning as soon as you ask for a credit line increase, they will do a hard pull on your credit and it will ding your score. Keep using the credit card, pay 2 months of the minimum, showing that you can pay and hold debt, continue to pay, then pay-off. Some creditors like you to hold the debt for longer but I do not suggest holding it longer than 3 months due to the accruing daily interest. Just keep up with the on time monthly payments for min or just slightly over min, then pay off. After 2 years of not having pulls, soft or hard, your score will go up.
The biggest thing being done wrong is using cards and immediately paying them off. To the credit bureaus it seems there is no reason to have a credit card if you can pay it right back. They like to see your capability to repay while holding a small balance. Use it and if you are wanting to pay in full split it in half. Half the first bill and half the second.
There’s nothing wrong with your credit score. It takes years to make it 800+. Years of having a credit score like yours and having several accounts open and in good standing for years. The longer you have an account the better your score. Whenever you open a new account it drags your score down, same thing if you close one.
Please look up Dave Ramsey and the Baby steps they will change your life. Havent used credit in 3 years paid 80k of debt in 22 months saved 25k in an emergency fund and just bought a Nissan Armada platinum cash in May. I dont even acknowledge my credit score because I dont use it. Pay cash for everything! No we dont make a lot of money but we budget and live on less than we make.
I only use my credit card for purchases I can pay off in one billing cycle. I think maybe twice in my life it has been used for emergencies and I always paid over the minimum then. I don’t Appreciate people getting even more of my money through interest, so I only use them to build good credit and the rest of the time they sit in my wallet.
Any thing over 750 is A ter score closing cards hurt your score no matter how much you’ve payed them off don’t have a bunch of cards to much available credit
Credit sucks and I have no idea how they determine it. Its like they want to see a revolving credit line u have but each month when the comapanies report u go up or down. Its a constant game of whether u pay on time or not. But if u add to your spending it goes up, but of u pay it every month it goes down. Its a never ending battle
To reach over an 800+ credit score you will need a mortgage payment.
Available credit to debt ratio is a big factor in your score. Don’t accumulate lots of small balances on accounts. Call your cards and request a credit limit increase, even a $500 increase will raise your score in a short time. Don’t close accounts you no longer use keep then open, and use them for something small every 3 months. When company close account for nonuse that drops your score. Rotate cards and use them all but pay it off monthly. You don’t need to carry a balance to show you use the card and can handle them.
Many factors determine your overall score but available credit to debt ratio, credit history, and length of account open all matter too.
All utility Bill’s, rent, mortgage, credit card , car loans must be pay within one week of due date, put that credit card in safe in a bank and quit using it period
I pay a company called Lexington law and they have been amazing!
This is happening because your DTI (debt to income) ratios are off. A credit repair company will help you before you go into default & give you credit counseling. I’m a realtor and deal with clients who have this issue. Don’t trust anyone but if you need a reliable source I have one I trust & with with. I can share. If interested. Let me know.
I am 83 years old, always paid my bills on time. Did not spend on frivolous things, just what I needed. Was married at 19, had two sons. Sent them to college. We both had good jobs, but no formal education. Today, we can spend for whatever we want and keep a good balance in our checking account. No one helped us, no inheritance, we stayed the course.
I was told by my father in-law to spend like $25-$50 at the beginning of the week and then at the end of the week pay back a little over half on my credit card. Been working so far. Before listening to him I had spent about half my limit and bad it all off a week before due. My credit dropped 30points. After that I listened to him and its been going up and I’m finally back to where I was before I got the stupid credit card.
Pay your credit card on time. I was told by a financial advisor to just always keep a low balance. So I pay it off monthly except $20. & it helps build my credit.
Check out the barefoot investor it teaches you how to budget your money and also to domino your debts. It’s a game changer
If you have utilities in your name or cell phones and those are paid on time or before due date, they also build credit I am told.
I have great credit spend less 30% of credit limit n check out debt to income. If u have a mortgage car payment n a lot of credit cards that can bring score down
You want to utilize 30% or less of the available credit…if you use more your score can temporarily go down
Credit is not just credit cards… I would take out a small personal expense loan for like $1k… put in you account & set up a to payments to pay it off… on time. Then use a credit card for everyday usage. I use a rewards card. Use this for stuff you have cash for… gas in the car, groceries, coffee… those type of things. Pay it off every month. This will also allow you to build rewards and you don’t pay interest if you pay it off within your 30 days. Then have another credit card for emergencies such as unexpected auto repairs… stuff you don’t just have the cash for… and make your payments. Look at you debt to income ratio… how much do you have coming in vs how much you have to pay out… for bills & such. Save save save… as much as you can. After 12 months of doing this your score should be much greater and you should have saved some in the bank and that will allow you to have a good relationship with your financial institution. Which means they will love loaning, raising limits and lowering interest for you!
get your yearly free credit history yearly, from one of the 3 agencies. someone may have hacked you… because if you pay on time, do not max out your cards (3/4) OK , and do not over charge in proportion to your income.( too many credit cards can also be a problem) If your credit line is too high loan people get nervous… each time you attempt to get credit, that also lowers score… you should be good … but I do know to get a score over 800 you also have to have savings… but 750 to 780 is a very good credit rating. You are doing something correct.
You could try at your bank to get a loan against yourself you borrow the money and you deposit the long back into your checking account and let the bank to automatic withdrawals for your loan payment the only money you would be out then is the interest but the Longwood go on your credit rating as a good credit
When taxes or a bonus check comes in, put a good portion on your credit cards and from there, keep putting just a little more on them for minimum payments
Credit karma really helped me, walked me through everything what credit cards were the best to help build credit. I had horrible credit so it took alittle time like 2 yrs but I was able to get a loan for a house with 3.1% on 90,000 loan. I wouldn’t have even know where to stay without credit karma good luck it’s a long road but so with it
Also right now discover has a bal. Transfer for no interest for 18 months. Pay as much as you can… to rid it. Then transfer to a low rate personal loan like lending club. Lots of offers out there. Take advantage of covid loan deferrals on car etc… but pay on cards dont keep the money.
Keep your debt ratio below 10%. Try to get a Small personally loan for 12 months. Pay your Bill on time each month.
Loan builds higher credit score than just credit cards
Dupaco has a credit building program at no cost
Get a mixture of credit. Can you apply for a small car loan? Credit cards are only a small piece if the credit puzzle. Secured debt like a car loan can help boost you’re score.
Coming from someone with and 800+ credit score…use ur card and make multiple pymts on ur card. Try to keep ut under 17% usage and request balance increase when allowed
Put everything you can on a $%back CC. Rent, fuel, food, Car payment, electricity, TV, phone - everything. Then just pay that one credit card bill. The few hundred dollars back a year is a sweet bonus. Plus the credit increase. Or - go to a points CC if you’d like to travel.
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You should check outDave Ramsey
Get a capital one secured card, u put 99 to 300 on it and spend 30% and pay it off each month on time. Raised my credit 100 points in 6mnths
Credit Karma app
If you are planning on buying a home find a mortgage expert
If your credit score is 750-780 how much do you expect it to go up? You would already qualify for the best offers and interest rates with that score