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!


Posted in Credit Scores
Profile Image

Question By

0 Contributions
0 People Helped
How can i bring my credit up past a 590? and how high does it need to be to matter.
MY score as of today is a 590, i only have one credit card that has a $300 limit ( capital one will not raise it and i cant seem to get another one) iv had it for 2 years and NEVER missed a payment or been late. I have a car i have a loan on but once again i always pay on time, finally i have student loans but there not in collection as im still in school. I work 30 hours a week and make like 19k a year. HOW can i increase my credit so i can get another credit card or a loan? should i get a new job, close my card? Also what credit score is "good" like when will i be able to get a card that has a limit more then my monthly car payment?

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

View your scores and reports anytime.

All Responses

Results 1-4 of 4Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
1703 Contributions
1899 People Helped

Helpful to 1 out of 1 people

Something isn't quite right here... Normally when you have 1 credit card for 2 years and a auto loan, without any baddies? You should be looking at scores of 700~720 and the fact that CapOne won't grant you a credit increase? It tells me something on your credit reports is weighted your score down. Now, if you max out your card every month? You can do a simply experiment, only charge 140 dollars (below 50%) on it for a whole cycle to see if your score would jump 30 points. If not? Then you need to take very close look at your credit reports.

Top Contributor
270 Contributions
165 People Helped

That's great that you pay your bills on time--keep it up! That's only about a third of your score though. You didn't mention anything about your utilization, so I'll suggest lowering that if you can. 
The credit reporting bureaus don't have access to your credit card balance every single day of the month. There is one day every month when your creditors will report your balance to them. All you have to do is look good on that one day, and the rest of the month you can do what you want, provided you don't go over your limit and you pay at least the minimum by the due date. That day is the closing date, which usually falls 2-6 days after your due date. Your balance on that day really needs to be under 30% of your limit. Under 10% is best. 

You also mentioned that you can't seem to get another card. Watch your hard inquiries! Every time you apply for something that will knock about 3 points off your score. Not only do you lose points, but when a creditor reads the content of your report they see that you've been denied credit recently. A good guideline is no more than one inquiry every six months. After one year they stop affecting your score, although they will be reported for two years.

As for when you will qualify for a decent card with a limit that's more than your monthly car payment, I can only speak from personal experience. My first unsecured credit card was a store card with a $350 limit. I don't know for sure what my FICO score was at the time, but I would guess between 600 and 620. Note, that's FICO, not Vantage (which is what CK uses).

Top Contributor
43 Contributions
12 People Helped

The feedback from krissie and johnny are correct. Also, try looking at the credit score simulator on here and try different scenarios and see if that shows the potential for a higher score. I think someone just berating you and making a judgement about your understanding of credit and not being as fully informed as they see themselves to be is not what this forum is for. I hope the positive information provided by the others is more helpful than someone offering nothing of substance to you. All of us have past experiences that we may have learned from and the opportunity to share positive information should be more helpful than someone contributing nothing to your question.

Top Contributor
12100 Contributions
4544 People Helped

Helpful to 1 out of 3 people

Your education is incomplete until you fully understand how credit works and you currently do not.  Read the articles here and use the financial tools so you can get a good understanding.  Then you may be able to move forward.  I did, and I have my degree in business but learned more about credit here than from any college courses.

Results 1-4 of 4Results 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.


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.