Improve credit score without increasing debt

[Atlanta777]

A credit score over what you have now is unlikely to do anything to help you much.

 

[fslc94]

No matter what you read, or they tell you it’s always something different. Carry zero balance, drops your scores. Having a balance raises your scores. Who knows? Ya da ya da bull****. 797 is excellent keep on keeping on.

 

[adrianrog]

You are already well above the minimum required to qualify for the very best rates. Don't worry about it and just keep trucking. Extra effort will not net better interest rates at this point.

 

[shootsacanon]

Credit score is an, “I love debt” score. Only way to increase it is to keep loving that debt. If you stopped borrowing entirely, let your score drop to zero, and were financially sound & responsible, you could still get a mortgage with manual underwriting, through a company like Churchill mortgage.

 

[moosensquirrel]

Did you get vaccinated? What is your "social credit score"?

 

[CAMSDADDY]

Credit score is an, “I love debt” score. Only way to increase it is to keep loving that debt. If you stopped borrowing entirely, let your score drop to zero, and were financially sound & responsible, you could still get a mortgage with manual underwriting, through a company like Churchill mortgage.

I’m well aware. My sons middle name is Ramsey and we are helping to begin a class tonight.

It’s a pride thing. We made some pretty crappy financial decisions in the past and have worked really hard to overcome them.

 

[Realtor]

Great credit score , I love this guy

 

[sparked1]

You are already well above the minimum required to qualify for the very best rates. Don't worry about it and just keep trucking. Extra effort will not net better interest rates at this point.

This right here. 720 is all you need to get the best rates and terms for most purchases.

 

[sparked1]

The other day we applied for a mortgage. When the gentleman ran our credit reports I found that our scores had dropped on all three bureaus. The lowest was 797. We are debt free other than our home. We only have one credit card that we use for most purchases but I pay it off several times a month.

The reason our score has dropped is lack of credit utilization. Is there any way to increase utilization without paying interest? We are about to buy a house so we can't open or close anything at this point. I don't see us trying to buy anything on credit unless we buy another down the road. I would just like to keep our scores up

The interesting thing is my wife and I have identical scores on all three bureaus.

Why do you want a higher score? Are you not already getting the best rate with 797? You certainly should be. If not, go to another lender (credit union).

 

[THREEJAYS]

That’s exactly what mine is currently and I 99% pay my one credit card off each month. Haven’t had a mortgage in many years. I did a couple years back run a truck note for about a year and then payed it off. I don’t think you have any thing to worry about