Improving My Credit Score

[Anonymous]

My credit score has been the same for the past three years! 625, 650 and 640 are my scores! I checked my credit report through fico and my analysis showed that my debt to income ratio is hurting my score! I have a house and a home equity loan and a school loan but thats about it! Im very careful with my credit cards because I have had issues in the past and I pay everything on time now. Is there a way to get my score in the next teir likethe 700 level? Any suggestions?

Message Edited by dashdaddy on 08-21-2008 10:16 PM

[Anonymous]

Actually, FICO scoring doesn't give a hoot about your debt-to-income ratio. Mortgage lenders certainly will, especially now that ninja loans are no longer on the table. But FICO doesn't.

To make a long story very short, FICO scoring cares about:

* You paying bills on time
* You having at least three or four revolving accounts (i.e., credit cards), and preferably an installment loan and mortgage too
* That you keep your revolving balances low relative to credit limit.
* That you have had credit for at least three years or so.

That's about 80% of your FICO score, in a nutshell.