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Next Steps? Went from 601 to 761 and want to keep IMPROVING!

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Next Steps? Went from 601 to 761 and want to keep IMPROVING!

Hey all,

 

I joined here almost a year ago with a 601 FICO8. I signed up for 3 secured cards and was able to get 3x AUTH cards as well. It only required about 30 days and the removal of my last remaining Derogatory Mark to pump that up to a 757 FICO8.

 

Since then, the secured cards are now unsecured cards with increased credit limits. I'm still AUTH on 3x cards. I haven't moved much as far as my FICO score, as I still bounce between 756-761 FICO8.

 

I'm wondering what my next steps should be to further increase my score and overall health of my credit?

 

Thanks for your help! Smiley Happy

 

P.S. - For those interested, I have a Bank (CU) Credit Card, Discover and Capital One. My 3x AUTH are Walmart, Kohls (DS) and Capital One.

 

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Re: Next Steps? Went from 601 to 761 and want to keep IMPROVING!


@ckweb wrote:

Hey all,

 

I joined here almost a year ago with a 601 FICO8. I signed up for 3 secured cards and was able to get 3x AUTH cards as well. It only required about 30 days and the removal of my last remaining Derogatory Mark to pump that up to a 757 FICO8.

 

Since then, the secured cards are now unsecured cards with increased credit limits. I'm still AUTH on 3x cards. I haven't moved much as far as my FICO score, as I still bounce between 756-761 FICO8.

 

I'm wondering what my next steps should be to further increase my score and overall health of my credit?

 

Thanks for your help! Smiley Happy

 

P.S. - For those interested, I have a Bank (CU) Credit Card, Discover and Capital One. My 3x AUTH are Walmart, Kohls (DS) and Capital One.

 


Congrats on the huge score improvement! 

Keep utilization less than 8.9% of ONE bank card reporting, can alternate on your CU, Discover and Cap One. Make sure the AU accounts do not report a balance. Let your youngest card age to 13 months, do not apply for anything that will incur a hard pull inquiry. 

 

Things to consider, the AU accounts, are they all around the same age? You need only the oldest one and it reporting 0 balance to help you if this is what you are using to up your average age of accounts and age of oldest. There will come a time, when I think they have served their purpose for starting your credit and no longer needed. Exception being if on a spouse's card. Any future big expenditure, home,they will most likely not consider the AU accounts. 

 

The journey is a slow one, you did sprint out the gate extremely well thus far, but you may plateau for awhile, until your accounts simply age with no new accounts. Each new account will less your average age of accounts. Depending on what your plan is in future, may not be be too important if you wish to obtain a new rewards card to your wallet. Definitely don't apply for anything if major, home, auto is a goal in less than a year. 

 

You do have a loan in for credit mix?

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Senior Contributor

Re: Next Steps? Went from 601 to 761 and want to keep IMPROVING!

Congratulations on your credit journey!

Starting Scores FICO 8 (Feb '18):
EX- 519, TU- 530, EQ- 545

Current Scores



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Re: Next Steps? Went from 601 to 761 and want to keep IMPROVING!

I don't have a loan in yet. I've been considering Self Lender recently but was exploring other options as well, such as applying for an Alliant Personal Loan and doing the 8.9% technique.

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