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How to get credit score 750-800

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JRS123
Established Member

How to get credit score 750-800

Hi All,

I am newbie to this forum... and this is my first post!

 

Abt Me-

myFICO EFX 709

 

Amex Blu- 1500/15000

BofA Cash rewards- 300/20000

BofA TrawelRewards- 0/10000

Cap.One Platinum- 0/2000

 

Paid off Auto loan - 17000

 

No late payments

Pay full each month

 

Fairly new credit history - 3years old

 

My utilization is good (i assume); why my score is always between 700-720... I want to get 750.

 

Any tips ?

 

BTW you guys are great... this forum rocks!

MyFico - TU- Hawk Alert Smiley Sad MyFico EFX 726.
Amex Blue cash 15K; Bofa Cash rewards 20K; Bofa Travelrewards 10K; 2/13 myFico 709
Target Score 760-800
Gardening since Jan'13 hopefully till Jan '14
Message 1 of 23
22 REPLIES 22
londonhogfan
Contributor

Re: How to get credit score 750-800

Wait for more replies, but from what I understand....

 

your score should be at it's highest when you have 2-4% utilization on one card. Then the the others report a $0.00 balance.

 

A mortgage, instalment loan, 3 credit cards (including at least 1 store card - can someone verify?).

 

no new accounts or inquiries within the last year

 

Average age of at least 7 years. Oldest credit line of more than 18 years.

 

----- Those are not easy to accomplish. Just do your best to hit as much of that criteria as possible.



I'll be in the garden... FICO Score | TU-08: 732 in May 2013
Message 2 of 23
myjourney
Super Contributor

Re: How to get credit score 750-800

Welcome to the forum

Now head over to the garden to let all cards age and keep UTL low and you should be there in no time good luck

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 3 of 23
JRS123
Established Member

Re: How to get credit score 750-800

I have 2 application history through ATT..huh

I think my both Bofa cards are Visa Signature and they dont report credit limit that may be problem... huhx2

I was once rejected for Macy's card and since then im scared of store cards

 

Its so hard not to apply credit card lol...

 

Thx for reply !

MyFico - TU- Hawk Alert Smiley Sad MyFico EFX 726.
Amex Blue cash 15K; Bofa Cash rewards 20K; Bofa Travelrewards 10K; 2/13 myFico 709
Target Score 760-800
Gardening since Jan'13 hopefully till Jan '14
Message 4 of 23
ryanbush
Valued Contributor

Re: How to get credit score 750-800


@JRS123 wrote:

Hi All,

I am newbie to this forum... and this is my first post!

 

Abt Me-

myFICO EFX 709

 

Amex Blu- 1500/15000

BofA Cash rewards- 300/20000

BofA TrawelRewards- 0/10000

Cap.One Platinum- 0/2000

 

Paid off Auto loan - 17000

 

No late payments

Pay full each month

 

Fairly new credit history - 3years old

 

My utilization is good (i assume); why my score is always between 700-720... I want to get 750.

 

Any tips ?

 

BTW you guys are great... this forum rocks!


A mortgage would also help your scores

Chase Sapphire Perferred | Chase Freedom | AMEX Platinum | AMEX Delta Platinum | AMEX SPG | Capital One Venture | Capital One Quicksliver | Discover IT | ABFCU Visa | Citi AA WEMC
Message 5 of 23
londonhogfan
Contributor

Re: How to get credit score 750-800

I'm sorry, I mis-read your original post. Your limits / util are very good. I think you just need more age and like Ryan said.... A mortgage would help. I've read people say theirs went up 40 points after getting a home.



I'll be in the garden... FICO Score | TU-08: 732 in May 2013
Message 6 of 23
drkaje
Senior Contributor

Re: How to get credit score 750-800

Paying before the statements cut may get you a few more points.

 

Leaving a small balance on one card may be a good idea but I've never intentionally tried it. Most people say less than 9% on one card.

 


Starting Score: 675
Current Score: EX 753 FICO, EQ 737FICO, TU 738
Goal Score: 776 FICO


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Message 7 of 23
CreditScholar
Valued Contributor

Re: How to get credit score 750-800

At this point what you need is time. After you establish a longer credit history with no lates or other baddies, and assuming you manage your util properly, your scores will increase by themselves.

 

While a mortgage will help your scores, they're not necessary for obtaining a 750-800 score. I've never had one and have been at or around 800 for the past several years. It's completely possible without a mortgage, but it might be easier for some people if they did.

EX 798, EQ 789, TU 784
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Barclays American Airlines Aviator Red World Elite Mastercard - $20,000 CL || Chase IHG Rewards World Mastercard - $25,000 CL
Chase Sapphire Preferred Visa Signature - $12,700 CL || Chase United MileagePlus Club World Elite MasterCard - $26,500 CL
Citibank Hilton Reserve Visa Signature - $20,000 CL || J.P. Morgan Ritz Carlton Visa Signature - $23,500 CL
Message 8 of 23
Revelate
Moderator Emeritus

Re: How to get credit score 750-800


@CreditScholar wrote:

At this point what you need is time. After you establish a longer credit history with no lates or other baddies, and assuming you manage your util properly, your scores will increase by themselves.

 

While a mortgage will help your scores, they're not necessary for obtaining a 750-800 score. I've never had one and have been at or around 800 for the past several years. It's completely possible without a mortgage, but it might be easier for some people if they did.


+1.

 

While nothing says stability like a mortgage on a credit report, it's not required.  I suspect the boost people sometimes report upon buying a home is for a non-trivial number of them don't have any installment history on their report, and a mortgage drops straight to the mix of credit function in that case which can be non-trivial.  It's possible there's a Michelin-like rating system (vis a vis mortgage > auto loan > credit card > store card as an example) but that's never been confirmed anywhere.

 

To a prior poster, a store card is just another revolving account.  It does nothing intrinsic for the mix of credit calculation that any other credit card wouldn't do (or Amex charge card for that matter).

 

To another, I've seen some folks hit 750 on a 2 year history in some cases, but admittedly their 750 wasn't as good as someone else's 750 with 8 tradelines on 8 years report.  I think in general AAoA around 5 years is solid enough to hit that mark for a lot ot folks assuming no major derogatory on the reports, and no recent minor derog either.




        
Message 9 of 23
MovingForward_2012
Valued Contributor

Re: How to get credit score 750-800

A mortgage is definitely the most prestigious line of credit as lenders realize it takes more skill and discipline to obtain. The crazy stuff I had to do for that mortgage! 2 all nighters satisfying conditions...ick! Smiley Tongue

My mortgage has not reported yet. I heard it takes a minimum of 3 months. Smiley Sad
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! Smiley Happy Last App: 4/5/13 Gardening until July 2014
Message 10 of 23
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