Help what do i do?!?!?!?!?!?!?!?!

[Anonymous]

My credit score has been between 624-659 for five years.  My credit history is five years old (i'm only 22) and i have missed only one payment in 5 years.  I own a house, i refinaced and nothing.  I have 10 credit cards and all have a zero balance except for one which i paid off and still no increase in my fico score.  I don't know what to do to increase it.  I want to desperatly get to the 700's and i don't know what to do.   

[Anonymous]

This is only my opinion

CC are a big factor in scores. You have 10 cards. do you use them at least enough to have the CC report??

CC go by  CL and UTIL...of all cards

It also might take 30 - 60 days for CRA to show payoff.

Keep all cards active. use for small purchase maYbe every 4-6 month & PIF. that way CC will report pmts.  Keep UTIL under 10%  for the best score

[Anonymous]

How long ago did you refinanced and for how long have your CCs been with 0 balance? Why do you want to be in the 700 club so desperately if you have decent scores? Buying a new car?

[Anonymous]

Yes - I have same question - most people are trying to get their scores up to purchase a house, cars, etc. - what is your objective?

[Anonymous]

I am 31 and my score a few weeks ago when I purchased a new car was 810.  I think you have too many cards to begin with.  Keep 1 plus a debit card or 1 and 1 back-up and close the others.  You don't need 10 cards.  I have 2 with combined limit of some 18,000.  I use only one of the two for almost everything and PIF every month.  Never carry balance on credit cards.  That's stupid, second only to borrowing from Tony Soprano.  Trust me, I work in finance of a large bank.  Otherwise, you are fine and your score will grow with your salary, more assets and larger cashflow.  Eliminate debt as much as you can with highest interests first.  It's very much common sense.  Protect your info, buy a shredder.  You are young and have a house.  That is very good.  Keep at it.  Don't worry about your score so much.

[Anonymous]

Hans thanks for the input, we appreciate hearing from the bank side, seriously!  You could probably add a lot of input!

[Anonymous]

I paid off my one credit card in full last month (almost 8k).  All my other credit cards have always been at zero or close to a zero balance. I now have zero credit card debt.   I am not trying to purchase anything.  I just want my credit score to be higher.  I feel that its very low for a person who pays everything on time.  I am a perfectionist, i guess.  I refinanced almost a year ago and it didn't do much.  I feel that my score never goes up.

I first started opening accounts because my mortgage broker told me i had no credit and should have at least 5-6 credit cards. 

one person mentioned closing my credit card accounts but i have read several books that told me that that could hurt my credit.  Also i think that will lower my credit history which will lower my score.

I also didn't know that salary came into place.

I am doing all that i am suppose to do and nothing.  My score has been around the same range for 5 years.

[Anonymous]

all my cc are reporting properly.  i use the cc's once every 4-6 months so they can post and show as current.  someone told me that they charged a cc to about 60% of the limit then paid it completly when the statement came and repeated it for a couple of months and  they got a high credit score.  does that work?

[Anonymous]

I really have an issue with a mortgage broker encouraging someone to go and get more credit cards.  That is why so many people in this country are in debt and incidents of identity theft are on the rise.  I know they need a basis upon which to evaluate your credit worthiness but we seriously have to come up with a better way.

[Anonymous]

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Hans wrote:

I am 31 and my score a few weeks ago when I purchased a new car was 810.  I think you have too many cards to begin with.  Keep 1 plus a debit card or 1 and 1 back-up and close the others.  You don't need 10 cards.  I have 2 with combined limit of some 18,000.  I use only one of the two for almost everything and PIF every month.  Never carry balance on credit cards.  That's stupid, second only to borrowing from Tony Soprano.  Trust me, I work in finance of a large bank.  Otherwise, you are fine and your score will grow with your salary, more assets and larger cashflow.  Eliminate debt as much as you can with highest interests first.  It's very much common sense.  Protect your info, buy a shredder.  You are young and have a house.  That is very good.  Keep at it.  Don't worry about your score so much.

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I kinda agree with ya except why have a loan on a car I think that is even as stupid as

carrying a balance on a card, I pay cash for a slightly used car and do not want to pay

anybody any interest at all, save the money for a few years and pay cash again...

I am not knocking ya or nothing but it's the same princapal