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Question By
Iloveparrots

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6 People Helped
How do I increase my credit score to 800?
I have a mortgage, which is paid on time every month for 8 years (30 year loan),and a leased car. Credit Karma lists the payments for the leased car as an "Other Loan." When I called Transunion, they have it listed as an auto loan. I have three credit cards. I use two of them each month and charge no more than 30% of their limits and pay them off each month before they are due. Transunion told me that their score is different than what Credit Karma has, but I couldn't find out what it is without paying them. My score went down in July when I leased the car. It has gone up to 755 since I've made several months of on time payments for the leased car. In the credit simulator, it says my score will increase 23 points if I take out another credit card with a $5000 limit and make on time payments. Nothing would change on my score if I got higher limits on my other cards. How do I increase my score to 800? Do I really need to take out another credit card?

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you dont need an 800 score

Helpful to 3 out of 3 people

You score is already about as good as you need to get the best loan interest rates. Its useless trying to better your score. You wont get any better deals after a 750 score. Getting another card and uping your total credit limit may increase your score, but it's not going to get you a better deal on your mortgage loan or lease. As you increase your credit history with good payments and low credit utilization, your score will go up anyway. No need for another card unless you want the rewards from it.

Reply by
Iloveparrots

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Thank you for your help

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Road to elite 800 score

Here's how you get 800 score first you must have 100% payment history ALWAYS second no derogatory marks third credit utilization between 1%-9% make sure your always using credit cards even just for gas in the car and credit line of 10-20k keep utilization low on each individual card. Now once all the high impacts are in the excellent according to credit factors on credit karma you cant focus on them any more there perfect and can't get anymore out of them so on to the two key factors age of credit all accounts must be at least ten years old and total accounts must be between 10-21 if you been to collage that helps as it breaks up the loan into several accounts and all must be open accounts. There should be no closed accounts and no credit inquiry once you hit the needed accounts that's the road to elite 800 credit score.

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