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New Visitor
Posts: 2
Registered: ‎01-10-2008
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My Median Score is 786, how do I boost it?

Hi There,
 
First Time Poster!
 
I'm 30 years old with 25 years of credit (Established a Bank Account when I was 5)
 
My Median Credit Score is 786 and I have $0 debt
 
All of my credit cards are in good standing, and I have 0 delinquencies and 0 negatives on my account.
 
What can I do to boost my credit score above 800?  My goal is 840s
 
Thanks!
 
BMWGuinness
Frequent Contributor
Posts: 408
Registered: ‎10-31-2007
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Re: My Median Score is 786, how do I boost it?

I wonder how is you installment account look like. Do you have loans or anything like that?
New Visitor
Posts: 2
Registered: ‎01-10-2008
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Re: My Median Score is 786, how do I boost it?

I have 3 mortgages totalling $1,000,000 that I have always paid on time, and $30,000 on an auto loan that I have always paid on time.
Frequent Contributor
Posts: 387
Registered: ‎08-10-2007
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Re: My Median Score is 786, how do I boost it?

[ Edited ]
I'm working on improving my scores also, but with no derogs and no incorrect information to correct, I'm at a loss also.  I'm planning on opening another CC or two, increasing my CL's, decreasing my utility, playing the game, etc.  But I think most people on these forums are working on getting their scores past a much lower benchmark.  People always point out to me that there is no difference between a 780 and a 820.  For me it's just personal.  I want all my scores to be above 800. 
 
edit:  also, I'd like my scores to be above DW's, which are just a tiny bit higher then mine. Smiley Happy


Message Edited by krystofur on 01-10-2008 09:50 PM
Frequent Contributor
Posts: 450
Registered: ‎12-10-2007
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Re: My Median Score is 786, how do I boost it?

I have no advice, as I'm a novice - but someone will, because myfico is awesome
!!

Can I just say I wish I had your scores lol! Smiley Wink Good luck!
Moderator Emeritus
Posts: 1,518
Registered: ‎04-20-2007
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Re: My Median Score is 786, how do I boost it?

[ Edited ]
What is the age of your oldest account and the average age of your accounts as cited from your credit reports?  Also, what is the ratio of your revolving balances to your credit limits (you mentioned that you have $0 debt, but I want to see how that's being reported)?



Message Edited by psychic on 01-10-2008 11:05 PM
EQ 814 / TU 815 / EX 842
Super Contributor
Posts: 8,198
Registered: ‎03-25-2007
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Re: My Median Score is 786, how do I boost it?



BMWGuinness wrote:
 
What can I do to boost my credit score above 800?  My goal is 840s
 
Thanks!
 
BMWGuinness


Why?  A median of 786 will get you the best rates you can get.  If all 3 of your scores were in the 830s you would not get any better rates!
 
And 840 is the highest score possible
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Valued Contributor
Posts: 1,424
Registered: ‎07-24-2007
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Re: My Median Score is 786, how do I boost it?

BMW..............I wasn't aware having a bank account figures in the aging of accounts. I know my grandfather (God bless him) opened a savings account for me when I was born, but that has no bearing on my FICO reports. 
 
In any event, I don't think there's much you can do - other than to let these accounts age. I know having a mix of credit helps a bit.
New York Yankees - 2009 World Series Champions. 27... and counting.....
Frequent Contributor
Posts: 430
Registered: ‎10-28-2007
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Re: My Median Score is 786, how do I boost it?

Unless that bank acct. from when you were 5 is somehow being reported...you shouldn't have a 25 years old credit file.  Your credit file actually starts with a line of credit extended to you.  Were you possibly an AU on gpa's acct at 5?  From what I understand...our 800+ FICO friends have credit histories that date 30 years or so!  Everyone on here is right...unless it is ONLY a personal thing...any thing above 780 isn't treated any differently than a perfect 840!!
 
$1,000,000 in mtg's might have an impact on why your scores are stuck?!...What was the original balance of those mtg's  They may be reporting 90+ % util....same as auto.
 
Your credit is excellent...and something you should be VERY proud ofSmiley Wink
 
Lowering any util. will be where you can possibly see an increase. YMMV  That and aging of your file, you are on the right path, though!Smiley Happy
takin' it one day at a time

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