I'm new to MyFICO and was hoping to get some advice as to how to get to the "next level".

[taxi818]

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@Anonymous wrote:

One of the things that you can do to improve your score is to take out a small, secured installment loan at your bank or credit union. This will improve the "mix" of credit that is part of the Fico scoring model. I did this, and it helped. Be aware, though, that you'll likely see a small drop when it first reports but it will climb back up above your starting point as you make payments.

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He already has as a lease on car 

[red259]

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@Anonymous wrote:

I am thinking because I use the VISA card for EVERTHING to max max cash back, they think I overuse the credit card, when in fact it is paid off every month. The balance showing is gooing to depend on what time of month credit gets pulled. Could be near maxed or completely empty or somewhere in between. 

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Well you should read up on optimizing your credit report in that case. You will want to pay in full all your cards except one (so you show like 1% util) right before the statement cuts. When the statement cuts is usually when lenders will send in the update to the credit report. This will help you get your max possible score and then you can apply for other cards. If your score doesn't jump up after optimizing your credit report then there may be something else at play. Note that you do not hjave to worry about optimizing your credit report every month. Only when your getting ready to apply for a new card or looking for a CLI. 

[Anonymous]

10% max utilization makes sense. Cooool!   I just applied and got approved for $4,000 limit  form Chase-slate, that brings my max utilization down to 20%. I can pay $1000 to one account and that will make utilization 10%.   We will see what that does.

[Anonymous]

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@taxi818 wrote:

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@Anonymous wrote:

One of the things that you can do to improve your score is to take out a small, secured installment loan at your bank or credit union. This will improve the "mix" of credit that is part of the Fico scoring model. I did this, and it helped. Be aware, though, that you'll likely see a small drop when it first reports but it will climb back up above your starting point as you make payments.

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He already has as a lease on car 

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Is that classified as an installment loan?

[Anonymous]

Yes, leases are installments. 

[Anonymous]

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@Anonymous wrote:

10% max utilization makes sense. Cooool!   I just applied and got approved for $4,000 limit  form Chase-slate, that brings my max utilization down to 20%. I can pay $1000 to one account and that will make utilization 10%.   We will see what that does.

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Congrats! That's a great approval.

[Anonymous]

If your looking to add another card, make sure you pay that balance off to $2 before statement date and pay off that $2 after statement cuts.

So, you need strategy. Something like, "I want to play the cash back game."

[Anonymous]

Thanks, that was a blast!  I just applied between posts.  So now I have 3 CC and 1 Installment (lease).  How long do I wait till I make my next move?  Wait for them to ACI or call them after a certain period of time, apply elswhere?

[Imperfectfuture]

Garden for about a year. You want above 720 for best results (760 should be a goal).

[red259]

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@Anonymous wrote:

10% max utilization makes sense. Cooool!   I just applied and got approved for $4,000 limit  form Chase-slate, that brings my max utilization down to 20%. I can pay $1000 to one account and that will make utilization 10%.   We will see what that does.

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Why did you apply for the Chase Slate? Did you need the 0% APR?