Credit Card Center Advertiser Disclosure

New Visitor
Posts: 2
Registered: ‎05-09-2013
0 Kudos

Raising credit score?

I have a auto loan with the balance of $7100, a store card with $3000 credit limit(military star card), and i just recently got a credit card with $3000 credit limit(PenFed)

with both cards i try not to spend more than $700 and ALWAYS pay it off. i was wondering if i should get another card? get a personal loan? am i on the right track? just need some guidance....



Moderator Emeritus
Posts: 32,865
Registered: ‎08-04-2007
0 Kudos

Re: Raising credit score?

A loan wouldn't help your mix because you have a car loan.


I'd let what you have age. You could probably benefit from a 3rd CC, but you can easily hit upper 700s at least with what you have already. With the new Penfed I would let everything age for a year at least and then re-evaluate based on your goals.


Even if you PIF your CCs monthly, make sure they report where you have them to be. For best results and max points, get one to report $0 and the other a small balance under 9% of the CL. Even if you PIF a CC it could still report a balance assuming you used it after the payment but before the statement date. If you really want to micromanage your scores you could let both CCs report $0 and see if that helps any (because your loan will always report a balance). FICO likes $0 balances, but not all $0. FICO likes to see most of your accts at $0.

New Visitor
Posts: 2
Registered: ‎05-09-2013
0 Kudos

Re: Raising credit score?

Should I use my credit card more than my store card? And which card should I keep a small balance on? And can I leave like a dollar or less?

Epic Contributor
Posts: 22,398
Registered: ‎01-17-2008
0 Kudos

Re: Raising credit score?

You can use either one it doesn't matter.  As long as the balance is 9% or under.

Established Member
Posts: 19
Registered: ‎12-01-2011
0 Kudos

Re: Raising credit score?

Hello flipstyle808.  Your credit score is not historic.  I mean that you don't need to maintain a 9% balance to maximize the current utilization calculation.  If you're getting ready to apply for credit, then having a 9% balance will help your score... but in between hard pulls, you don't need to worry about how much of your credit you're using.  


You mention that you don't use more than 23% of a cards limit -- is this because of what you can afford?  It is always best to pay in full (for the simple benefit of not paying interest). but a different strategy (instead of using 2 cards x 700, use 1 card x 1400) might benefit you with the foundation for credit line increase request.  Find out which of your cards will give you a credit line increase (see if they'll check with a soft pull).


Don't open new credit applications to keep the potential to score high, but research the next card to get that fits your lifestyle (maybe a zero%xfer zero%interest, maybe a cash rewards, maybe a mileage rewards).  Once you find a card you want, research the score you need here with a post of your specifics (aaoa, util, derogs, etc.).  Good Luck!

Starting Score: eq-757 tu-713 (nov 2011)
Current Score: ex-850 eq-836 tu-844
Goal : maintain

Take the FICO Fitness Challenge

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.