Goal: 800 - Next steps?

[TLinFargo]

I'm currently sitting at 783 (EQ), but I'd like to hit the big 800 mark and I'm hoping for some advice on what to do next...

No derogs on my report, but my oldest account is only 10.4 years old (I'm 29), and my AAoA is around 4.7. I have 8 open revolving accounts, all of which I paid down to zero about a year ago with a mortgage refi. My car is paid off, but I'm a cosigner on my wife's car and she's refi'd that twice to roll in the last of her remaining CCDs.

1. I have a closed CITI card that I could try to re-open. Funny thing is that it’s never shown up on any of my 3 reports!? It’s not my oldest card, but it did have the highest limit @ $7,800. If I do re-open, how do I make sure it gets reported? Will trying to re-open it generate a hard inq on my report? Worth it? I think I already have 3 inq, not sure when the oldest will drop off.

2. I could request CLIs on the open cards, but again, not sure if it’d be worth the inq? Would a CLI even help me? It’s hard to get any lower than 0% util.

3. Any other ideas? 8 cards too many? Should I close a couple of the low limit store cards? Should I be putting small charges on my existing cards, or is it OK to leave them at zero?

I may be in the market for an auto loan within the next year or so, so I want to make sure my score is as good as it can be.

Thanks in advance!

[Anonymous]

i currently have a 782 and an 802.

Personally I don't see any difference except

for my ego.  Interest rates are the same.

[TLinFargo]

Good point... I'm not sure how much of a hit I'll take for the auto loan, I'd like to stay above 760...

[Anonymous]

it will be temporary any way and will

help eventually.

[vanillabean]

For your inquiries within the last year, if any: how old are each of them?

[TLinFargo]

Looking at my myFICO score summary, it only lists one under "Inquiries that may be affecting your FICO score", my mortgage refi from 10/16/2009. But on my full EX report I see 3: Wife's car on 12/29/2008 (over a year ago), mortgage refi on 10/16/2009, and car refi on 7/9/2010. Both of the car loan inquities are showing up as home improvement loans for some reason...

[haulingthescoreup]

Your full reports display inquiries for 24 months (two years.) But they only count for scoring for one year, so the myFICO reports only display the previous 12 months' worth, since they're the only ones involved in scoring.

[TLinFargo]

Just had my scores pulled by a mortgage broker... EQ is now showing 795, EX 792, and TU 801

[MarineVietVet]

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@TLinFargo wrote:

Just had my scores pulled by a mortgage broker... EQ is now showing 795, EX 792, and TU 801

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Fantastic!!

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[smallfry]

Car loans do not help very much at all but the new account hit carries a good ding. Do NOT apply for any new credit and avoid inquiries like the plague. Let the report age. If you have enuf credit available just sit tight. I would not reopen any accounts that were closed. Let half or less of your accounts report balances and keep the U under 2%. Nothing else you can do besides never pay late and do NOT apply.