You're in a really good spot score wise.
Ultimately there isn't a whole lot you can do to improve your score here as the primary thing you're lacking is age. Plan your credit changes, don't open frivolous accounts (if we're talking FICO maximization, that's not the same as financial maximization potentially), and don't let anything stupid happen.
You might be able to manipulate your auto loans for a FICO win (aggregate balance <9% or so, but not all closed at $0) if you're paying them off early anyway but that's a big chunk of money that probably should be used elsewhere given the low financing rates we've had for a while. Ultimately I'd just sit back and relax and let the aging score improvements come to you.
@Anonymous wrote:Hello All,
I stumbled upon the forum about a year ago as a result of a Google search and have since visited once or twice a month to read various topics, but have just joined today, as I'm finally in a place where I feel I've done all the "obvious" things to improve my score before asking this question:
How do I move up from here?
Some details in my signature (hopefully I set that up right), but I now carry a fairly low util rate and have a handful of cards open. I also have three auto loans open (no I don't have three cars to myself, but it's a long story) totaling ~$35k. Two student loan accounts on record, both paid off within the last 2 years.
I recently paid down some CCs, reducing UTIL from around 25% to the 3% it is now, and also got two 30 day late pays removed from my record, and have subsequently seen a significant jump in score since May. (EX from 717 to 786, will get official scores on the others soon, but CK says 795ish for EQ and TU).
At this point, despite reading the threads of some people in similar situations, I'm not exactly sure what the best move is for pressing onward. Any and all advice is appreciated!
1. Ignore Credit Karma's Vantage 3.0 scores, they are meaningless.
2. Try to pay installment loans down. Once you are at 9% of the limits overall, you will get some bonus points in FICO 8.
3. Try to maintain credit cards with 1 or a few cards reporting small balances while the others report zero balances.
4. To build your scores, don't apply for new credit.
@Anonymous wrote:Thanks, SouthJamaica.
I'll do some analysis and see if/when it's worth throwing extra cash at the installment loans. I currently only have one card reporting a balance after paying off a couple others earlier in the month, and will work to keep it that way.
I know you said not to apply for new credit, but would you also advise against requesting the CLI from USAA? I'm wondering if the increase in limit, which isn't absolutely necessary for my spending habits, is worth the inquiry since my utilization is already low...
I don't know if USAA does a hard pull when you ask for a CLI. If so, I would advise against that as well.