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Getting credit score to 800

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New Member

Getting credit score to 800

Hi, 

 

I was wondering what I could do to get my credit score to 800+, but would be comfortable with 785+.  My current scores are all in the 750s for the past couple of months.

 

Cards I have with limits:

 

Local Credit union card- $1,000 opened 06/2015

Discover it- $8,500 opened 01/2017

Chase Freedom Unlimited- $10,500 opened 06/2018

Citi Thank You Premier- $7,500 opened 09/2018

About $3000 in student loans remaining

 

2 inquiries in the last year

Average age of accounts- 1yr 5 mos

Oldest Account- 3 yrs 4 mos

 

I usually keep my utilization between 0-5% and always pay balances in full.   Any tips?  I apologize in advance in this topic is kinda "beating the dead horse" thing.

Message 1 of 8
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Senior Contributor

Re: Getting credit score to 800


@irishguy66 wrote:

Hi, 

 

I was wondering what I could do to get my credit score to 800+, but would be comfortable with 785+.  My current scores are all in the 750s for the past couple of months.

 

Cards I have with limits:

 

Local Credit union card- $1,000 opened 06/2015

Discover it- $8,500 opened 01/2017

Chase Freedom Unlimited- $10,500 opened 06/2018

Citi Thank You Premier- $7,500 opened 09/2018

About $3000 in student loans remaining

 

2 inquiries in the last year

Average age of accounts- 1yr 5 mos

Oldest Account- 3 yrs 4 mos

 

I usually keep my utilization between 0-5% and always pay balances in full.   Any tips?  I apologize in advance in this topic is kinda "beating the dead horse" thing.


 

It appears to me that you're probably at or near the possible maximum score for your credit profile.  Is the amount remaining on your student loan(s) less than 8.9% of the original loan(s)?  If it currently isn't, you will gain some points once its paid down below that threshold.

 

Your Age of Oldest Account is relatively low so your scores appear to be limited by fairly young accounts.  You could potentially get .boost by being added as an authorized user to a credit card with a long history and low or no balance.  Otherwise you'll just have to wait for your accounts to mature.  It will also help if you didn't open any new accounts since there's a scoring penalty from resetting the age of your youngest account to zero.

 

It will be interesting to hear the input from the scoring gurus.





Message 2 of 8
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Super Contributor

Re: Getting credit score to 800


@irishguy66 wrote:

Hi, 

 

I was wondering what I could do to get my credit score to 800+, but would be comfortable with 785+.  My current scores are all in the 750s for the past couple of months.

 

Cards I have with limits:

 

Local Credit union card- $1,000 opened 06/2015

Discover it- $8,500 opened 01/2017

Chase Freedom Unlimited- $10,500 opened 06/2018

Citi Thank You Premier- $7,500 opened 09/2018

About $3000 in student loans remaining

 

2 inquiries in the last year

Average age of accounts- 1yr 5 mos

Oldest Account- 3 yrs 4 mos

 

I usually keep my utilization between 0-5% and always pay balances in full.   Any tips?  I apologize in advance in this topic is kinda "beating the dead horse" thing.


I'm no guru but. The credit limits dont mean much at all, its the util % reported to the CRA's. Less than 50% of your cards should report a balance which would be 2 cards. AZEO is best. What was the initial loan amont for the student loans. As Maize said less than 8.99% is a boost. Lastly once your AAoA reaches past 2 yrs another boost. So its obtainable in time.





My posts are JMHO. My siggy is not to brag at all. Just sharing my experiences after learning here from rebuild to recovery after BK DC @ 540's. And to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 3 of 8
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New Member

Re: Getting credit score to 800

Initial loan amount for student loans was 10K and change

Message 4 of 8
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Super Contributor

Re: Getting credit score to 800



Initial loan amount for student loans was 10K and change


So about 30%.  You're not currently realizing the maximum scoring gain from that loan until the balance is reported at 8.9% or so of the original loan amount, say, $890.  At that point you could stand to see your scores increase 15-20 points depending on your profile.

 

As for everything else, keeping AZEO in check with aggregate utilization below 8.9% is key to score maximization.

 

The rest is just age of accounts factors, as indicated by others above.  Only time will help those and of course not applying for any credit.  You want those inquiries to go away and adding new accounts will only further hinder 2/3 of your age of accounts factors. 

Message 5 of 8
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Community Leader
Senior Contributor

Re: Getting credit score to 800

There'll be a nice boost if you allow your AoYA (age of youngest account) to reach a year old. And all of your current inquiries will have become unscorable during that year.

Message 6 of 8
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Super Contributor

Re: Getting credit score to 800


@irishguy66 wrote:

Hi, 

 

I was wondering what I could do to get my credit score to 800+, but would be comfortable with 785+.  My current scores are all in the 750s for the past couple of months.

 

Cards I have with limits:

 

Local Credit union card- $1,000 opened 06/2015

Discover it- $8,500 opened 01/2017

Chase Freedom Unlimited- $10,500 opened 06/2018

Citi Thank You Premier- $7,500 opened 09/2018

About $3000 in student loans remaining

 

2 inquiries in the last year

Average age of accounts- 1yr 5 mos

Oldest Account- 3 yrs 4 mos

 

I usually keep my utilization between 0-5% and always pay balances in full.   Any tips?  I apologize in advance in this topic is kinda "beating the dead horse" thing.


Best things you can do to increase your scores:

 

1. Maintain the credit cards with 1 reporting a small balance & the others reporting a zero balance.

2. Pay installment loans down to 9% of original amount.

3. Not apply for any new credit.


Total revolving limits 649500 (568000 reporting)
FICO 8's EQ 710 TU 733 EX 717



Message 7 of 8
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Valued Contributor

Re: Getting credit score to 800

Sometimes, the best thing to do is nothing.
Message 8 of 8
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