Is it enough to have 2 credit cards to enhance credit score above 750 or do I need to get more credit cards? I am wondering stuff to do to enhance my credit score further. Oldest Credit History : 1yr 3mth Credit Cards : Chase Freedom Unlimited & Amex Gold Credit Score : ~740 #creditscore
I have 2 cards, score 800+ Just use them heavily and always try to paid in full on time and the score will follow.
Just remember if you open new cards it will lower your average credit age which will result in a dip in your credit score.
Number of credit cards won't help you boost your credit score. In fact, average tenure is one of the parameters and as soon as you get a new card, your avg tenure falls and so does the credit score for the next 3-6 months Try to keep credit utilization below 30% of the limit, make all your payments on time and ensure there are fewer credit enquiries e.g. when you apply for any loan, it leads to a credit enquiry and applying in 5 banks would lead to 5 enquiries. All these pay later options on apps are also counted as credit lines, so keep a check on that too. Lastly, it's a slow process to improve the score. Keep patience! - someone with an 805 CIBIL score
Time. Too young of a file. See it as one of the few perks of getting older.
You just need some age
I moved to the U.S. from abroad in 2020. I had no credit history so that was tough at the start. Since then, I have been able to own three credit cards and my credit score has climbed up to 776, though it could be better. I always pay ahead of time so my credit utilization stays low, and I pay the full balance due. I’m guessing it will take an extra 5 years or so to reach a 800 score but that’s where I currently am
Credit utilization is another big piece. Call each company and ask for a credit limit increase. This will help in two ways, total available credit (is higher) and credit utilization will be lower
Yes, it should be enough. You are mostly penalized for a short credit history.
Combo of high usage & payoff + multiple accounts + length of history will help I think if you get one it will lower score due to credit check but potential will be higher
How many credit cards do you have?
Like 10 but I’m old