Tips on increasing a stable credit score.

[Kraner]

My credit score (TU via Walmart Card) has been 747 (+/- 2) for the last 6 months, not bad for being 21. I don't have any use for a higher credit score right now, but being stable is kind of boring after 18 months of a gradually increasing score.

Right now I have two cards (Walmart, $2100 CL, started with $900 May 2012) and (Chase Amazon, $2000 CL, started with $500 Sept 2013) from which I typically use ~10% and pay them off the day after the statement post. I also have an installment loan I paid off early that has been closed for 3 years now.

So what would you recommend? I really don't have a need for another card and I don't foresee any "big" purchases in the next 6 months.

[lincar66]

It sounds like your ready for an app spree to go out and grab a couple more prime cards to build a nice thick profile what do your inq look like and any derogatory info?

Also what is util%

[DeadlyPersona]

OP has clearly stated he/she has no need for another card so why would you recommend they go on an app spree? 

[B335is]

I think you're on the right track and time is really what you need to further increase your score.

I know you aren't interested in a new card, but you may want to consider an Amex. You will lock in your member since date now and if you decide you want another Amex 10 or 15 years down the road, it will be backdated to the year you became an Amex member. That has long term implications to your credit report because it will boost your AAOA.

Have you considered asking for a CLI on your Walmart card? If not, I would open the chat window and ask for an increase. If they can't give the full amount they'll counter.

Chase doesn't give auto CLI much, they're more known for giving bigger subsequent approval limits and reallocating limits between cards. And requests are almost definitely a hard pull with them.

[Kraner]

Inquiries - Walmart card about to drop off in May, the Chase Amazon and another I applied for but didn't get to drop off in September, and then the hardpull last July to get my Chase Amazon from 500 to 1000 that they auto CLI it to 2000 a few months later (high utilization).

% Utilization - average month ~10%

Amex - I'll look into it

CLIs - Could do that also, I've had the $2100 Walmart for awhile and did get the offer last year to go to their mastercard, but since it was my first card and it wouldn't backdate I kept it as is. Also not sure if they'd be interested since I only use 5% of it on average anyways.

[takeshi74]

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@Kraner wrote:

My credit score (TU via Walmart Card) has been 747 (+/- 2) for the last 6 months, not bad for being 21. I don't have any use for a higher credit score right now, but being stable is kind of boring after 18 months of a gradually increasing score.

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"Bored" is probably not a good reason.  Best terms are generally offered at about 740-760+ anyway.  However, if you do want to work on it there are some suggestions above.  The reason another card was suggested above is that at least 2-3 cards are generally recommended for scoring purposed.  CLI's probably won't hlpe much if your utilization is already low but it won't hurt to pursue them either.  If you don't have an AmEx I'd also suggest it.  It won't help you now but it can help down the road so you can leverage backdating.

All that said, I'd suggest letting your needs determine the credit product your pursue versus boredom.  Credit is a long, slow process so you're if you're easily bored then credit is the wrong area to look to address your boredom.

[VirusCredit13]

Credit cards are just one of the simplest things to get for buffing up your credit report. An Amex would probably be best bet as mentioned earlier for potential backdating in future. With current cards request SP CLI when you can.  If you don't want a new card, then just continuing to pay on time and lettting your report age is only other thing you can do. 

Few years ago I was in similar situation as you trying to bump my score. I didn't have any active personal CC, just 1 closed due to inactivity, and 1 from parents I was still AU user on. Score was mid 700s, I decided to do app spree got 4 cards, 6 months later got discover, then another 6 months later got Freedom and 2nd Amex.  Last Discover Fico was 790. I know I'm done with credit cards now, but when I started out I made sure to get a lot so they would age together.

[Kraner]

takeshi74 - I completely understand the long haul of credit and I am anything but impulsive to cure "boredom"; just trying to set myself up for the best years down the road.

Thanks for the help all.

[lincar66]

I know he doesn't need cards but if you really want to build up a decent profile and don't you think adding at leat one more open account would help or he will start getting the too few accounts paid as agreed reason ask a lot of the people here 3 revolving cards is best maybe they don't need or want the card but his question was how to start increasing a stable score Dingdong ding  you need to start expanding your profile so before you start trying to make people feel dumb don't ask a question and be close minded he needs a mix Walmart and amazon chase are not bad cards but am I right when I say adding at least one prime card with a higher initial limit will help in long run so please don't try to do that and also using a different color say that you saying it with a attitude and I gave none so expect none in return

Don't ask how to increase a stable score and then shut down suggestions. I'm all set with this question!!!!!!!!!!!!!!!

I'm very sorry OP I see that you were very open to suggestions and are pondering my suggestion but for another person to try to speak for you bugs me they contributed absolutely nothing to the thread saying what they said

[DeadlyPersona]

@lincare66 - if me asking my question offended you, I do apologize...I was just wondering why the first suggestion would be an app spree (gaining more cards) when that's not what the OP wanted.  I was waiting to read your response to see if it would be something to be learned and would make the OP possible re-consider.

The OP didn't want cards.....I didn't suggest a card.

The OP seems to have their mind set on no purchases in the near future....I didn't suggest a card.

I guess I should have said...OP focus on CLIs....sorry....my fault.