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Portfolio strategy suggestions

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lexrjSD
Regular Contributor

Portfolio strategy suggestions

My credit is fairly new and I'd like to get it above 750s across the board as quickly as I can.

Here is my current credit profile:

 

1 Car Loan Paid off

1 Car Lease Open

4 CC revolvers (Total CL 49K - Util: never higher than 10%)

AAoA 1.5yr

Oldest line of credit - Cap One CC - 2yrs and 9months old (still open)

DTI - 10%

 

Current Scores: FAKO EQ/EX-738 TU-746 / CK-751 / FICO Barclaycard - 746

 

Facts:

I don't have the need for any more CCs.

Not planning on getting a mortage for the next 2yrs.

No lates or baddies.

 

My question is:

Besides letting my accounts age, which I believe is the main factor holding down my scores, is there anything else I can do? Maybe adding a charge card for instance?

Suggestions and opinions very appreciated.

WALLET: Amex BCP 25K | Barclay Arrival Plus 27K | Chase Reserve 20K |
Amex SimplyCash 50K

FICO: EX 812 | EQ 815 | TU 815
Message 1 of 5
4 REPLIES 4
Iorek
Contributor

Re: Portfolio strategy suggestions

You already seem to know the answer. The best thing you can do is just leave your credit be. Not only will your accounts age, but inquiries will start to not count/fall off. 

 

A charge card is not considered any different for scoring purposes - at least in terms of types of accounts. It's lumped in the credit card bucket.

Amex BCE ($15k), TE ($5k), BoA BBR ($600), Cash Rewards ($600), Barclays Sallie Mae ($6k), CapOne Quicksilver ($4k), Chase Freedom ($5.8k), CSP ($11k), Marriott (9k), IHG (12k), DCU ($6k), Discover IT ($6.5k)
TU - 4 INQ, EX - 7 INQ, EQ - 3 INQ
Gardening since 06/25/14.
Message 2 of 5
user5387
Valued Contributor

Re: Portfolio strategy suggestions

You may be able to optimize utilization further, for example by controlling whether cards report a balance.

 

There are many threads here that capture this issue.

 

Message 3 of 5
maksimfa
Contributor

Re: Portfolio strategy suggestions

... however that is a short term solution. =)  It resets monthly so it is a lot of effort for nothing.

 

OP. keep doing what you are doing, let them age, do CLI as permitted and enjoy.

Message 4 of 5
indiolatino61
Valued Contributor

Re: Portfolio strategy suggestions


@lexrjSD wrote:

My credit is fairly new and I'd like to get it above 750s across the board as quickly as I can.

Here is my current credit profile:

 

1 Car Loan Paid off

1 Car Lease Open

4 CC revolvers (Total CL 49K - Util: never higher than 10%)

AAoA 1.5yr

Oldest line of credit - Cap One CC - 2yrs and 9months old (still open)

DTI - 10%

 

Current Scores: FAKO EQ/EX-738 TU-746 / CK-751 / FICO Barclaycard - 746

 

Facts:

I don't have the need for any more CCs.

Not planning on getting a mortage for the next 2yrs.

No lates or baddies.

 

My question is:

Besides letting my accounts age, which I believe is the main factor holding down my scores, is there anything else I can do? Maybe adding a charge card for instance?

Suggestions and opinions very appreciated.


You're doing just fine...letting your accounts age would provide the best results in your situation. Good luck to you.

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Message 5 of 5
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