How? Been stuck at Good (730) forever. I pay everything off every month.
You have good to excellent credit already.
How many cards do you have? More cards = more credit = less utilization per card = higher score
A ton
Type of credit is also some thing to consider, auto home , revolving credit different types also impact the score, You may also look at both how many hard quarries are on ur file etc Credit karma is a very good resource in my point of view
Number of accounts, type of credit, Length of credit history? Those are also factors. Also have you had a lot of hard inquiries?
There are lots of factors. Have you ever had a late payment? How old is your credit profile? Do you have a mix of open accounts? Just credit cards or also student/personal loans, a car payment, or especially a mortgage? What's your reported credit usage?
Stuck at 805 for over 3 years now
Been at 810 most of my adult life. I've never carried a card balance and havent had a loan for a long time
Don’t pay off everything every month. Keep some balance as in 1000$ or so and then pay it off the next month. You won’t be charged interest if you pay off in 1 month. The important things is your statement will show 1000$ acct balance and then next month, tat you paid it off. It’s important for scores that you show that you use the credit responsibly! If you keep paying off, no one knows that you’re using your card, it could mean you don’t show history of responsible credit usage.
This is not true at least with the current generation of credit score models. The next generation will consider historical util but today they don't. Only the latest reported balance matters, not the balance during the month or in previous months.
Every time I refinance my mortgage loan my scores improve drastically. More than what it used to be before I took a mortgage loan. The scores definitely increase if you show that you pay off your loans/balances. Let me see if there’s some study on this.
Why do u want better credit. Just pay cash
Paying everything down each month can hurt you credit a little, if you pay before statement closes. As others mentioned there are many factors. You want several credit cards and car loan (or similar installment loan), For credit cards, keep your utilization around 5%, pay on time. You want cards that report to all three bureaus (or at least the ones you care about). No collections. Then you need time and larger limits. Some credit unions can be pretty generous to extend you credit based on employer or banking history. Time is the hardest to build quickly. Ideally you want > 5 years history. Amex and HSBC can transfer accounts from overseas (including your history), which can help build the time factor quickly.
I am stuck at 750
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Lol in the same boat :P