Well not me, mines been above 800 because I have always paid on time. Thought this article would be helpful to some here:
I got my credit score over 800 using this simple 4-step process
https://grow.acorns.com/how-to-get-credit-score-above-800/
I will be giving this a try . To reach that 800 score.
All good strategies. However, I'm a little iffy on #4. I like to hold on to my money for as long as possible so I only ever pay the statement balance. However I'm not yet at 800. Might have to change things up and see the impact.
The "twist on step 4" in the article, making credit card payments before the statement period ends (and in full whenever possible) has helped me raise my score.
I am debt free and my credit scores are over 800. I utilize credit cards which I pay off each month for cash back rewards and that keeps my credit scores high.
I appreciate this link and will put it in practice.
Awesome thanks for the link !!
I sometimes make two payments before the statement period to lower the balance fast and thereby the credit company will be reporting an even lower balance. This helps with the utilization factor and helps raise my score.
What's a utilization factor?
What's a utilization factor?
Debt / Open credit = Utilization. Lets say the credit limits across your credit cards total $5,000 and you owe a total of $1,000 on them. $1,000 / $5,000 = 20% Utilization. Creditors want to see your utilization stay under 30%. 10% utilization is optimal for the most favorable financial products. If you're over 30% there are two ways to get it down - pay down your debt or obtain new lines of credit. If you can qualify, obtaining new lines of credit is the best way because the impact is immediate whereas paying down debt takes time. Just be sure you don't create more debt.
Thank you!
Great article.
Thanks
Helpful steps. #4 though might depend on the balance and monthly household needs at the time. Still good suggest steps.
Pretty solid advice to get 800!
Good advice for someone with open cards that are sitting with low debt. If you have a lot of debt, it is not easy to game your credit. But even if you have high utilization and high debt, and you have a credit card with cash back even small charges immediately paid off (while still making consistent payments each month on the existing debt) can lead to positive changes.
For example, Capital One has a rewards card and if you charge a small trip (like $15+) to Wal-Mart or Target on it, and immediately pay it off from your debit account, you'll still earn a cashback reward. CapitalOne lets you apply cashback earned as a statement credit, so in addition to the monthly payments, and the paid-off small charges, you can make mini cashback credit transfers to chip away at your balance.
Even though it takes extra steps, being able to throw an extra few dollars towards your balance can make a big difference (and it's even better because it's cashback–it doesn't cost you more to earn these dollars!)
I’ll be trying these tips.
Currently at 594. 800 is goals
Thanks
Thank you for sharing.
3
I will see how this works out!!
Thanks! For this information.
Thanks 
Thanks
