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Question By
Zionbar

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9 People Helped
My Credit isnt moving as fast as id like, help please:)
Hi everybody!

Im at 655 and been stuck there for a few months.

I need to get to 700 asap, i just applied and was approved to another cap one credit card with 500$ limit

Here are the cards and loans i have;
Wells fargo secured card ($800 limit)
Cap one secured card ($200 limit)
New cap one card ($500 limit)

And a car loan with $12,800 left on it

Another problem is im a green card holder and i just got my social and credit around september 2016

But i never miss a payment and im basically only using these cards to build credit i buy starbucks coffee and suck and deliberately pay with those credit card for under 10% of their limit

I thought by now ill be at 700 since my starting credit was 670 i did have 8 hard inquieres because i was shopping for a car.

So bottom line is in my case how do i get from 655 to 700, and how long should it take? Should i just keep paying on time or do i need to take further action? Thanks a lot guys!

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Top Contributor
654 Contributions
288 People Helped

First the only way to move a score "fast" is typically if you can remove some derogitory remarks, or to pay off credit cardts that are maxed or near max limit.  These two things move scores fast, other than that it takes time.

Realize that you applying for and getting new credit HURTS at first, because you now have more inquiries on your report and your average age of credit goes lower, both of which reduces your score.

Right now it seems you are doing everything right and you just need time, I know that is not what you want to hear, but is the truth.  Since the companies only have a year to gage if you are a responsible lender you have done very well with a score of 655.  You have three credit cards and an auto loan so are establishing multiple lines and a diversity of types. Now it is a waiting game and keep doing what you are doing, keep current lines open and all under 10%, less if you can, and continue to show that you make payements on time all the time and let the average age of credit increase. i would be VERY warry of opening up anything new unless it is home releated, and I am guessing this is why you want the score of 700.

Maybe someone else can chime in with something more, but it is going to be driving up average age of credit to take next step as far as I see.  Also remember that the score you see here is not the same score that a lender will see, because odds are that they use some other system beside Vantage.

Top Contributor
7816 Contributions
1501 People Helped

It takes time. I do not see anything else that you need to do at this time. I suggest reading all that you can about credit as that is something that you can do now and it will bring benefit to your credit future. You have to be patient in the credit game.

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