Help! How do you increase a high credit score?

[Focus]

My FICO score is currently 777. I have 1 60-day, and 2 30-day late payments on my record from about 4-5 years ago. No other derogatory marks. I have 6 revolving credit cards all with 0 or minimal balances. The credit lines are below 3000 except for one 7000. Renting house, car paid off. Score has been 777 for over 6 months. Any tips?

[Tuscani]

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Focus wrote:

My FICO score is currently 777. I have 1 60-day, and 2 30-day late payments on my record from about 4-5 years ago. No other derogatory marks. I have 6 revolving credit cards all with 0 or minimal balances. The credit lines are below 3000 except for one 7000. Renting house, car paid off. Score has been 777 for over 6 months. Any tips?

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You could send GW letter for the lates... but really, even if you had 850 you are getting no advantages over your 777.

[Anonymous]

Wow I wish I had your problem!smileywink Perhaos you could dipute them on your reports.

[Tuscani]

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Diamond wrote:

Wow I wish I had your problem!smileywink Perhaos you could dipute them on your reports.

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I wouldn't dispute. Just try a goodwill letter.

[Anonymous]

There's good news and bad news for you.

The bad news is you probably will have a hard time getting your score much higher.  By the time you get into the 700s, you've usually picked all the low-hanging fruit.  Only time and careful avoidance of baddies will get your score much higher.

The good news is by the time you hit 720 or so, you're pretty close to the asymptote on the FICO vs. interest rate scale.  Even if you go from 720 to 850, you're probably looking at an interest rate improvement of 0.3 to 0.5%.  Contrast that with going from 600 to 720, where you're gaining 2-4%.  So don't sweat it.  You're about 90% of the way up the food chain.

[smallfry]

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@Focus wrote:

My FICO score is currently 777. I have 1 60-day, and 2 30-day late payments on my record from about 4-5 years ago. No other derogatory marks. I have 6 revolving credit cards all with 0 or minimal balances. The credit lines are below 3000 except for one 7000. Renting house, car paid off. Score has been 777 for over 6 months. Any tips?

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777? Well done.

[Focus]

Thanks for the replies all. It has been a long, hard road rebuilding my credit from rock bottom (had to use CCCS). My interest in increasing my score is due to the fact that most of my credit cards have low credit limits (less than $3000). I would like to apply for the 'excellent credit' cards but fear being turned down and getting a ding for applying. Per the Capital one definition of excellent credit:

Excellent Credit
All these statements are true for you:

• I have had a loan or credit card for at least 5 years
• I have a credit card with a credit limit greater than $10,000
• I have NEVER been more than 60 days late on a credit card, medical bill or loan payment
• I have never declared bankruptcy

I don't have a credit card with a limit greater than $10,000 so according to this, I wouldn't qualify. The long credit history of my small limit credit cards helps my score, so I'm hesitant to get rid of them.

[Tuscani]

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Focus wrote:

Thanks for the replies all. It has been a long, hard road rebuilding my credit from rock bottom (had to use CCCS). My interest in increasing my score is due to the fact that most of my credit cards have low credit limits (less than $3000). I would like to apply for the 'excellent credit' cards but fear being turned down and getting a ding for applying. Per the Capital one definition of excellent credit:

Excellent Credit
All these statements are true for you:

• I have had a loan or credit card for at least 5 years
• I have a credit card with a credit limit greater than $10,000
• I have NEVER been more than 60 days late on a credit card, medical bill or loan payment
• I have never declared bankruptcy

I don't have a credit card with a limit greater than $10,000 so according to this, I wouldn't qualify. The long credit history of my small limit credit cards helps my score, so I'm hesitant to get rid of them.

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I would hardly say CAP1 is credible (haha) enough to say what is and isn't excellent credit. General consensus is excellent equals 720+. You could reach this score without having any one or all of their excellent credit "requirements".