How can I continue to increase my score as a college student

[tristanforks]

Howdy, 

I am currently a 19 y/o college student trying to maximize my credit card use and build my score. My score currently sits at 755. 

I have a Discover It student edition (5% cashback) that I have had for 1 yr 5 months (this is my longest open account). I use this card for most purchases and try to maximize my 5% back, or whatever the rotating category is. 

I also have the BofA customized cash rewards (3% cashback) that I have had for about 6 months. I use this card for gas only to get my 3% back as the most spent category. 

These are my only 2 credit accounts (no installment loans), I have 0 inquiries in the last 12 months, my revolving utilization is always below 20%, and I have 0 missed payments. 

I realize there likely isn't too much I can do right now except wait for my length of credit to continue to increase, but any advice is still greatly appreciated!

[SouthJamaica]

---

@tristanforks wrote:

Howdy, 

I am currently a 19 y/o college student trying to maximize my credit card use and build my score. My score currently sits at 755. 

I have a Discover It student edition (5% cashback) that I have had for 1 yr 5 months (this is my longest open account). I use this card for most purchases and try to maximize my 5% back, or whatever the rotating category is. 

I also have the BofA customized cash rewards (3% cashback) that I have had for about 6 months. I use this card for gas only to get my 3% back as the most spent category. 

These are my only 2 credit accounts (no installment loans), I have 0 inquiries in the last 12 months, my revolving utilization is always below 20%, and I have 0 missed payments. 

I realize there likely isn't too much I can do right now except wait for my length of credit to continue to increase, but any advice is still greatly appreciated!

---

There's nothing more you should be doing other than taking good care of your two accounts, keeping utilization low, paying both accounts off in full each month. If you want to totally optimize your scores for now you should pay one of the two cards off before the statement cuts, so you'll be letting  one account report a zero balance while the other reports a small balance before you pay it off.

When the time comes that there's a credit product that you really want to have, then you can go ahead and apply for it. The passage of time, and the absence of credit applications, are the way to build your scores.

[GZG]

---

@tristanforks wrote:

Howdy, 

I am currently a 19 y/o college student trying to maximize my credit card use and build my score. My score currently sits at 755. 

I have a Discover It student edition (5% cashback) that I have had for 1 yr 5 months (this is my longest open account). I use this card for most purchases and try to maximize my 5% back, or whatever the rotating category is. 

I also have the BofA customized cash rewards (3% cashback) that I have had for about 6 months. I use this card for gas only to get my 3% back as the most spent category. 

These are my only 2 credit accounts (no installment loans), I have 0 inquiries in the last 12 months, my revolving utilization is always below 20%, and I have 0 missed payments. 

I realize there likely isn't too much I can do right now except wait for my length of credit to continue to increase, but any advice is still greatly appreciated!

---

if there's any credit cards you want, which would help your credit card rewards strategy, you could consider adding another credit card. lowers the credit score in the short term, but bolsters the credit score and the credit report in the long-term.

(a 780 with two credit cards with small limits isn't nearly as impressive as a 780 with multiple, good, higher limit credit cards across several banks)

making sure you're not paying interest and always paying in full is the most important thing.

a card that earns 1.5%/2% on all purchases comes to mind to supplement your other two cards: wf active cash, citi double cash, some other 2% cards if you bank with PNC, Penfed, Sofi.

do you have any student loans reporting to your credit report at all? 

[Anonymous]

---

@tristanforks wrote:

I have a Discover It student edition (5% cashback) that I have had for 1 yr 5 months (this is my longest open account). I use this card for most purchases and try to maximize my 5% back, or whatever the rotating category is. 

I also have the BofA customized cash rewards (3% cashback) that I have had for about 6 months. I use this card for gas only to get my 3% back as the most spent category. 

These are my only 2 credit accounts (no installment loans), I have 0 inquiries in the last 12 months, my revolving utilization is always below 20%, and I have 0 missed payments. 

---

You are already ahead of the game.

[Tiggr]

Just keep doing what you're doing. Do not mess up and apply for anything stupid and keep paying it all off monthly. If you eventually want another good student card you should look into the SavorOne for students.

Any way you slice it, create a credit plan and stick to it.

[Thomas_Thumb]

---

@tristanforks wrote:

Howdy, 

I am currently a 19 y/o college student trying to maximize my credit card use and build my score. My score currently sits at 755. 

I have a Discover It student edition (5% cashback) that I have had for 1 yr 5 months (this is my longest open account). I use this card for most purchases and try to maximize my 5% back, or whatever the rotating category is. 

I also have the BofA customized cash rewards (3% cashback) that I have had for about 6 months. I use this card for gas only to get my 3% back as the most spent category. 

These are my only 2 credit accounts (no installment loans), I have 0 inquiries in the last 12 months, my revolving utilization is always below 20%, and I have 0 missed payments. 

I realize there likely isn't too much I can do right now except wait for my length of credit to continue to increase, but any advice is still greatly appreciated!

---

All you need is the 2 cards for now. Just continue to pay ontime and allow the accounts to age. After graduation the card(s) should be converted from the student version so CLs can grow.

My daughter started with Discover and Wells Fargo student cards in college. Starting limits were $1.8k and $1.2k. Credit scores in the 720s when 1st reported.

Her Fico scores are now 800-815 with still only those 2 cards. No loans or AU accounts. Credit limits, after graduation, fulltime employment and card conversions have grown to $20k and $12k.

I would suggest getting a 3rd card after you graduate and go after credit limit increases once you secure fulltime employment.

Later, if you have no open loans and feel the need to boost score, consider a SSL. For now, focus on educational enrichment and partime paid/volunteer work experiences that can give you leverage in a competitive job market.

[tristanforks]

No student loans taken out, I'm fortunate enough to have parents covering tuition. 

Everything else you said makes sense though, I will look into those other credit cards and see if they make sense for me. 

Thank you!

[FicoMike0]

I agree, you're doing great! Time will improve your scores without any effort. As @Thomas_Thumb  mentioned, a ssl is an option for a quick 30+ point boost. Look it up if interested. It's sort of a fake loan, in that you borrow your own money. I presently have one with penfed. You need $25 X the loan term in months. That's $1500 for 5 years, $3000 for 10. You get the money back in less than 2 months. 

[IsambardPrince]

---

@tristanforks wrote:

Howdy, 

I am currently a 19 y/o college student trying to maximize my credit card use and build my score. My score currently sits at 755. 

I have a Discover It student edition (5% cashback) that I have had for 1 yr 5 months (this is my longest open account). I use this card for most purchases and try to maximize my 5% back, or whatever the rotating category is. 

I also have the BofA customized cash rewards (3% cashback) that I have had for about 6 months. I use this card for gas only to get my 3% back as the most spent category. 

These are my only 2 credit accounts (no installment loans), I have 0 inquiries in the last 12 months, my revolving utilization is always below 20%, and I have 0 missed payments. 

I realize there likely isn't too much I can do right now except wait for my length of credit to continue to increase, but any advice is still greatly appreciated!

---

Sit back, pay them in full each month, and let them age.

You don't have to do a lot of stupid nonsense to get a FICO over 800. You only need to pay your credit cards in full every month, never late, for years.

The people who get much past the low 800s have some stupid car fleece or are home loaners, and then if they ever manage to pay it off after hundreds of thousands of dollars in interest, their score drops anyway because the loan zeroes out and closes.

[Thomas_Thumb]

The above is an untrue generalization. Although I had a 15 year mortgage and 850 scores, total interest payments at 4.5% apr with 50% downpayment were under $75k. Debt free since 2021 and retired. Housing costs - now only taxes, upkeep and insurance expenses are far less than renting. The homeowner equity is nice as well.

As far as Fico 8 and Fico 9 scores with no open loan - you can still get to 850. I have a couple EX F8/F9 850s and my EQ, TU F8 scores fluctuate between 840-845 depending on # cards reporting balances.