How To Continue Increase My Score

[Anonymous]

Good afternoon,

I currently have the following FICO 8 scores

Experian: 755

Equifax: 760

Transunion: 771

Accounts

Discover

Balance: 0$

Credit Line: 5,500$

Opened: February 2018

Best Buy

Balance 163$

Credit Line: 5,500

Opened November 2018

Macy's

Balance 0$

Credit Line: 2,000

Opened August 2018

Inquires: 

Experian: 2

Equifax: 5

Transunion: 0

What actions do you suggest in order to increase my score?

[simplynoir]

Only thing I can see other than perhaps a loan (car, house, etc.) for the credit mix aspect all you need is time. Having your accounts age while presumably practicing AZEO is the only real way I see you increasing your scores at this stage. Your scores are pretty good as they are right now and will only get better the older they get

[AllZero]

As mentioned by simplynoir, one open installment loan would help if you don't all ready have one.

I would recommend reading the below from CreditGuyInDixie
Adding an installment loan -- the Share Secure technique
The Quest for an SSL alternative to Alliant
NFCU SSL

Here are two institutions that have SSL which you can pay in advance to 8.9% utilization without shortening loan term:
NFCU - membership restrictions.
SSFCU - geofence.

[Anonymous]

Thank you for the feedback, so you don't suggest I add another credit card?

[Anonymous]

Thank you, I will review the threads.

[SouthJamaica]

---

@Anonymous wrote:

Good afternoon,

I currently have the following FICO 8 scores

Experian: 755

Equifax: 760

Transunion: 771

Accounts

Discover

Balance: 0$

Credit Line: 5,500$

Opened: February 2018

Best Buy

Balance 163$

Credit Line: 5,500

Opened November 2018

Macy's

Balance 0$

Credit Line: 2,000

Opened August 2018

Inquires: 

Experian: 2

Equifax: 5

Transunion: 0

What actions do you suggest in order to increase my score?

---

I think you might increase your scores a bit by adding a bank card -- not another store card -- and using that as your card to report a small balance before you pay it off each month. Initially I don't think your score will go up; it will probably go down. But after 3 months or so I would expect it to be a bit higher.

Also for now make sure your card reporting a balance is the Discover card, not one of the store cards.

Oh, and make sure the one bank card reporting a balance either (a) is not a Chase card, or (b) if it is a Chase card, never gets paid down to zero (reason being that when a Chase card is paid down to zero Chase reports the zero balance mid-cycle).

[dynamicvb]

When I first started rebuilding, I had loans, but no credit cards. Adding a card bumped me up almost 50 points by fixing my mix. I don't know if you would see anything close by fixing your mix as my scores were in the low 600's then. But I suppose it is possible.

[Anonymous]

Thank you for the advice.

I have multiple questions.

When you say bank card you're referring to institutions such as NCFU Wells Fargo? what are examples of bank cards?

Why should Discover be the card reporting the balance?

Thank you for the information, I will avoid Chase.

[Anonymous]

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@Anonymous wrote:

Thank you for the advice.

I have multiple questions.

When you say bank card you're referring to institutions such as NCFU Wells Fargo? what are examples of bank cards?

Why should Discover be the card reporting the balance?

Thank you for the information, I will avoid Chase.

---

It's been said that using a store card as your one balance card doesn't work as well as using a bank card (yes, like Navy or Wells, or Discover/Citi/etc). 

[Anonymous]

Thank you for clarifying. Do you have any suggestions on potential bank cards? I don't travel so I would prefer cashback. I pre-qualified for all of the NFCU card based on the website.