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How to get credit score go from 780 to 800+?

146 21 August 22, 2012 at 07:33 AM
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My credit score's been idling around 780 for a while. How do I get it to go up?

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#2
Do what you have been doing and keep it up. From everything in my experience, it seems if its trending in an upwards direction consistently, keep doing what you are doing and possibly turn it up one or two notches but within the realism of your own financial safety net.
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#3
Get a mortgage, get more credit cards, and keep your debt to credit ratio very low (use under 7% of your available credit limit).

10+ credit cards and different types of credit (mortgage, car loan, student loan, etc) are ways to improve your score. Just make sure you pay off your balance in full and on time.

Age of your credit cards also matters, so like reddem0n said, keep doing what you're doing and it should go up as well.
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#4
don't you also need a rather high income to get into the 800+ range?
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#5
Quote from DWad
:
Get a mortgage, get more credit cards, and keep your debt to credit ratio very low (use under 7% of your available credit limit).

10+ credit cards and different types of credit (mortgage, car loan, student loan, etc) are ways to improve your score. Just make sure you pay off your balance in full and on time.

Age of your credit cards also matters, so like reddem0n said, keep doing what you're doing and it should go up as well.
This pretty much nails it. A mortgage and car loan reflect well on credit score as well as a good average age of accounts and lots of Credit-lines with as high of limits as possible. Under 10% usage is great, most say 2-3% is the magic number but who knows for sure. Just make sure you are showing some usage. Stay away from applying for lots of cards or loans at least in a 6 month period.

Quote from slapshot136
:
don't you also need a rather high income to get into the 800+ range?
This is a common misconception. Income actually has no bearing on your credit score at all, however it does effect your ability to get credit. When you apply for loans or credit cards your income is generally a question on the application, but nothing in your credit report itself or credit score shows your income.
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Last edited by madadd August 22, 2012 at 08:42 AM.
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#6
I noticed my FICO score went up (equifax) from ~780 to ~795 when I had a reported credit card balance go from. ~0/$12,000 to ~$700/$12,000. Basically there was a notable boost in my score showing some small balance vs a zero no usage balance. All other cards were also zero at the time, so only one card was needed. I also have no mortgage ever on my credit - I am pretty maxed out @ ~795 FICO without a mortgage.
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#7
my went up alot after my first car loan and paying it off on time, also make sure your debt to income is low.
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#8
I believe once you get over 750, you'll probably already qualify for the best credit cards or the lowest interest rate on your loan. Anything after 750 is just nice to have, so I don't think there is really any benefit to getting a higher score than what you have right now.
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#9
For what?
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#10
Quote :
From my experience anything beyond 3 per year is a no-no if you want to keep your score above 800 (mine dropped to 790 from having that).
http://creditcardforum.com/blog/8...to-get-it/

LOL! I'd lose out on tons of bonuses for a negligible improvement in my FICO.
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#11
Quote from slapshot136
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don't you also need a rather high income to get into the 800+ range?
No.

Quote from vaultaddict
:
For what?
The exclusive 800'ers club.

I just refi'ed an auto loan and my TU score dropped by 25 points due to closing an account plus I have one CC maxed out, but my credit standing hasn't changed a bit. As long as you're highly credit-worthy, you'll have very high credit scores. People make such a big deal out of these numbers.
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#12
Is there really any benefit in moving from the high 700's to the 800's? From what I understand, there is really no difference.
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#13
Try to keep individual utilization ratios on each of your revolving accounts between 1 and 2%. That seems to be the sweetest spot for the high achievers. Not much difference between this range and the <10% range, but if you want to hit the 800 club these little details start to matter.
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#14
Really there's no quantifiable benefit to going from 750 to 800. I think getting to 800 would take an alignment of the stars such that the mathematical model on which the score is based is at a local maximum. IOW, the model is so complicated that having a score of 800+ is happenstance.
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#15
Quote from Dem Bums
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Is there really any benefit in moving from the high 700's to the 800's? From what I understand, there is really no difference.
With regards to being extended credit, generally speaking, no. However, there are some loan products that reserve their very best interest rates to those with an 800+ or 805+ FICO.
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