My FICO score is just above 700 after about 4 years of credit cards use. I had only 1 credit card for more than 3 years with 4k limit (got another one recently). I have a current auto loan. There was 1 delayed payment on my credit score 3 years ago due to bank screw up. How can I improve my FICO score to good value (let's say 760, enough to get best home loan rates) ? How much time does it take ?
Your limit is too low. Increase your limit. The amount you can fuck yourself over boosts your credit score dramatically.
Yep increase your limits to 10K+ plus open few more credit cards even if you are not planning to use them. And don't forget to increase limits on those as well
After opening card/increasing limit, how much time to bounce back after a dip? I just saw my credit score dip a few points after decreasing my card balances. Our system is seriously screwed up.
send a certified letter challenging the late payment and they will drop it because it is not worth investigating. Then open a couple accounts each year until you have a high total limit. If you work at Google it should be no problem getting to 100k credit limit but it will take a few years.
Pay your credit card every week so that your monthly balance is super low
Monthly balance will be low or nil but highest amount for the month is reported. I found this out by paying off my card following it's charge but the amount is still reported.
Really?!! Damn I thought I was being smart lol But I did see my credit score go up a little bit ( not dramatically) after I started paying weekly.
getting to 786 took me 2.5 years from the day I stepped on US soil for the first time. car + 3 cards, auto paying full balance monthly. that's pretty much it.
Best credit score is 0. Do everything cash.
Rather than opening new cards simply call every 6 months and ask for a credit limit increase. With each increase your utilization drops.
I currently have a score of around 800, just 2 years after graduating college. I raise my credit limits whenever I can (total credit limit right now is around 100k), I pay off my balances fully every month, I have 5 credit cards, and I have student loans and a mortgage.
I have auto pay set on my credit card to pay my full balance. Does this have any impact on the credit score? Should i change it to manual payment?
open a bunch more cards. initially your score will dip but if you have a history of using less than 7% of your available revolving credit, it will keep going up to 800+