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Hi and welcome. You have a great credit score. If I were you, I would not be overally concerned about my credit. Your score makes you eligible in the top tier for any credit related products or services. Increasing your score from here would just be window dressing or bragging rights. Beyond that, I do agree with others that just for your general financial health, it would be prudent for you to focus on paying off your debts. Good luck.
Thank you very much to everyone for the information. I will take it all into consideration. This if my first time using this site for this reason, and I am impressed with the responses I received!
I was given advice recently, from here, that you can optimize your credit score if you have only 1-2 CCs reporting a balance and the rest of the CCs should have a zero balance. I know that advice was given to several people here (including myself) who were trying to improve their scores past 700, but I'm not sure if that advice will help someone like you who already has a wonderful score. Congrats and good job with your credit score.
@aad041109 wrote:I was given advice recently, from here, that you can optimize your credit score if you have only 1-2 CCs reporting a balance and the rest of the CCs should have a zero balance. I know that advice was given to several people here (including myself) who were trying to improve their scores past 700, but I'm not sure if that advice will help someone like you who already has a wonderful score. Congrats and good job with your credit score.
In my experience, ratio of accounts with balances do impact your score, even someone in the mid 700's. Over the last month i have been experimenting with Util and open accounts and here is what I found. I started with 17% Util and 53% open balances(10/19) - when I went to under 50% (9/19) open accounts with a 16% UTIL - I gained 9 points (from 764-773). Next step was decreasing Util to 2% and open accounts to 7/19 and I gained 15 points (773-788) - final change was going to 6/19 accounts with still a 2% UTIL and I gained 5 more points (to 793).
Other times when I played with the Util - impact levels were at under 50%, under 30% and under 10%