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CatLoverDonna

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How raise score when not paying ANY interest?
All your recommendations assume I'm paying interest on my credit card purchases when that has never been the case. I pay off all my credit card purchases every month and don't have an excess of cards. I would like to get my score above 800 but none of your suggestions address things to do to accomplish this. We (husband & I) don't have a mortgage or car loan and aren't about to take one out just to increase our credit score. What else can I do.

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Other credit lines would work

If you get a cell phone contract, cable tv contract, or Internet contract that would help your score if you maintain the account in good standing. Even setting up a secured CD loan with your bank or credit union helps since installments are reported to the credit bureaus. Besides another credit card, car loan, or mortgage there are not many other options besides the ones I listed. Hope this helps you make a decision and good luck to you...

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Why do you want your credit score increased if you don't need future credit?

The suggestions on this site says to increase your credit line and vary your credit by getting a mix of different types of accounts (oil, store retail, non-bank)

keep your balances low. Even though you pay on time, if the bill states you are using 35% or more of your credit line, that is the number that gets reported and a high a balance-to-limit ratio will lower your score. Don't close older accounts as well. Not only will that lower your average age account history but will decrease available credit.

There really isn't a simple formula. Credit scores are complex and isn't linear. These are just general guidelines and carrying a balance on a credit card to increase your score is a myth.

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