Do you have any installment loans open? Auto, Student Loan, Mortgage, etc.. If you look on your Fico reports under the section that says what is hurting your score, the first item is what is hurting you the most. If you don't have a loan, then you may want to look at getting one or perhaps do a secured savings loan or SSL if you are not really interested or need to borrow any money.
@Anonymous wrote:Yes my utilization is currently 0%. I have been paying them off as soon as I purchase something.
OK so my advice is:
@1. Start letting the Capital One card report a small statement balance, then pay it off immediately after the statement. Let the 2 Chase cards report zero balances. As @Anonymous notes this will pick up some points for you fast, in the short run.
2. For the long run I think it would be prudent to refrain from making further applications at this time; let your account get seasoned. You already have enough credit cards for an 850 score at this point. So the main thing is to increase your age of oldest account, and average age of accounts, and to avoid inquiries and new accounts.
Then, down the road, as your scores increase, you can go for cards you really will get some mileage out of. If you don't feel the need for more cards, don't get them.
Welcome! Great advice given already, and there is not much more I can add, other than a little tip. When you do app, try not to apply for loans or cards that don't make sense for you either financially or other. While it is great to work on your score, I believe you should do it within your means so that you never over extend yourself. I agree with the thought of holding off on applications and grow what you have, as well as keeping your utilization down.
