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Question By
tdavis378

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How can I increase my credit score, reaching for 800!
I have a 773 and reaching for a 800. I would like advice on how to obtain that. I pay my bills on time (always have), no negative comments on my record, I have 10% or less utalization on credit cards, I pay my student loans I pay on (never deffered), own my home (again never missed a payment) and my oldest credit card is 7 yrs old. I currently have Any advice?

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Hi TDavis378!

Well done on such a great score.  With an average age of 6 years and 10 months, I'd say that you want to stay the course.  As that passes 7 years, then 8, etc. you will see the bump into the 800s that you seek.  

It's a fine line really, because the actual number of accounts matters as well (how many credit cards?  do you have an auto loan?   a mortgage?).  The more accounts, with more "variety" the better.

Reply by
tdavis378

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Helpful to 0 out of 1 people

Yes I have a mix of accounts, credit cards, morgage and car. 

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Helpful to 2 out of 3 people

Your average age of credit is a pretty big factor in deciding your score. Your oldest card could be 7 years old but if you get a new card every year your average age of credit would be less than ideal for a greater score. May I ask what your average age of open credit is?

Reply by
tdavis378

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Helpful to 1 out of 1 people

6 years 10 months

Reply by
tdavis378

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If I requested a credit increase on my credit cards would this help or hurt me?

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4 People Helped

Fully understand

I have been in the same situation and still am!  But if you check with your cc(credit trackers..etc) they will have differant scores then credit karma.  I find that my score is much higher at these sites.  Don't know if that makes one feel better, but other numbers are out there. Have a great day, hoped this helped. 

Reply by
tdavis378

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What are some of the other sites you are talking about?

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score increase advice

Helpful to 1 out of 12 people

Payoff any accounts like credit cards, car loan, Etc. and then close them out. Then you can reopen a new card account or card loan if needed. This will boost your score in 30-60 days.

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Reply by
SaveMefromDebt

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I totally disagree with Bluesky380.   You can pay off all of your accounts for sure.  But under no circumstances do you want to CLOSE those accounts.  This will lower your "Average Age of Accounts" and it will raise your "Credit Utilization" to higher levels than it would with more accounts open.   Also, your score is affected by how many accounts you have as well.  Closing accounts is a terrible idea.

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