How can I make my score go up?

[Twix]

For years I never gave credit any attention.  Never got any kind of loan what-so-ever.

So three years ago I realized having good credit was actually important.  I opened around 10 credit cards and also have an installment loan.

So my average credit age is about 3 years, which is how old my oldest account is.  My credit cards have zero balances on them.  I have a 6K installment loan.  I have no negative info on my credit reports.

I want to buy a home though and I want to have the best rate possible when I do.

My question is what can I do to make my score go up?  I want a score that is 760+ to get an excellent rate.  Is there anything I can do to possibly make my score go up more?  Or is the best thing I can do at this point just let my accounts age?

[Anonymous]

Try letting a very small $10 balance report on 1 of your cards-

(monthly Scorewatch or you CMS is great for this)

What are your scores now?  

[Anonymous]

Well, Twix, you're still a little young (in FICO's eyes) to get over 760.

What you're going to find is that, right around 720 or so, you hit a "soft asymptote." Your score will continue to rise, but much more slowly.

That's the bad news. The good news is that, once you hit 730 or so, you've already made yourself eligible for almost prime rates. The big "swing zone" in terms of interest rates is from the lower 600s to right around 710 or so. That when each point of FICO gain translates into the most improvement in interest rates.

[tonsers]

Hi Twix! My history is about the same as yours - several credit cards and one installment loan. My avg age is also 3 years - but my oldest is now over 5. I didn't hit 760 until the 5 year mark.

[Anonymous]

If I remember correctly, FHA rates don't vary based on score provided your score is above like, 620.. Something to keep in mind/look into.