Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Report
Profile Image

Question By
Blinky2099

1 Contribution
0 People Helped
Can I hit 800+ with only 1-2 credit cards?
23 year old student. No loans. I have 1 credit card under my name with a $2,000 limit where I keep the usage around 1-5% and pay it off in full every month. There's a second card my father got for me to pay for school books and class fees -- it shows up under my credit karma report, so I would think it effects my credit. There's no listed credit limit on the card.

I have "A"s in all areas except for number of accounts. It says I have 3 accounts (1 for my credit card, and the school card from my father shows up twice for some reason. It also says it's been open for like 25 years, which is pretty weird since I'm only 23.)

I was wondering if there is anything I can do to boost my credit score to the 800+ range. I don't need an auto loan for the next few years, and I don't need any other major loans for basically anything. I could open up another credit card or two, but I know that this can potentially damage my credit score instead of help. I could also try to increase the credit limit on my current card, but I don't think that would help much since I already keep utilization low.

Any advice? Thanks :)

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
1 Contribution
0 People Helped

Also, for reference, I've been sitting around 730-755 for two years straight with very little fluctuation out of that range. Thanks guys :)

Top Contributor

Reply by
zevus

65 Contributions
153 People Helped
Helpful to 1 out of 1 people

Probably.  I had a score around 815 with a handful of cards at around 30.  I'm pretty sure it still would have been 800+ even w/o the other 4 cards, because 1) my payed off student loan hadn't fallen off my history yet, 2) high overall limit, 3) low utilization (the couple thousand I spent per month on my credit cards wouldn't even be 5%), 4) 12 year credit history (got MBNA card directly after student loan).

It'll go up some just from getting more credit history, but I suspect you'll need more available credit to jump it up past 800.   I'm going to assume that you probably have 15-20k in available credit or less..

Top Contributor

Reply by
Addison170

3051 Contributions
2786 People Helped
Helpful to 1 out of 1 people

Once I reached 749,  I qualified for dealer financed zero interest loan on a new car.  I already had 5 credit card and I don't pay an annual fee on any of them.  I always get zero-interest offers for balance transfers from my credit card lenders, and my interest rates on my cards are all below 15%.  So I really don't know what a score of 800 would do for me; it's not like they're going to start handing me free money.  My point is, once your in the range you are in, you're already in a great place and it's crazy to try and reach 800 just because it's a bigger number.  

Top Contributor
65 Contributions
153 People Helped

Oops, forgot to say my MBNA card was slightly below a 50k limit, and I had a chase card at 25k.  The other cards ranged from 8k to 15k.

I doubt you could get such limits in today's economy, but who knows.... back then they were giving out 0% APR deals like candy.

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.