I have a 651, and I need it up around 720...

What is the best way to do this? There isn't anything awfully bad on my report, and the only things that I have to pay for are my mortgage, and SUV...

 

Pay bills early
Pay off revolving cards monthly
Never close a credit account
Don't switch credit cards to get the best rate
Keep the oldest credit account on your credit report
No more than 2 major bank cards
No more than 50% of your revolving credit limit

 

I only have one major cc, vystar platinum 7000 limit with a ZERO balance... I have my navi payment, and my mortgage

 

What's your age? Time is the ultimate factor. How long have you had your:

CC
Mortgage
Car payment

 

26
I know that I had above a 720 before, because When I got the Platinum card (about 3 years ago) I had a 720....

That particular CC - 3 years
Mortgage - 1yr
This car - 1yr
But, I have always had an auto loan since 95.

Maybe it dropped cause of my mortgage?

 

Scores vary depending on what you are applying for(CC, car, mortgage).

Just pay your bills on time & follow Neils advice above.

 

Never close, even if its a revolving account (like 18 months Same as cash at Ultimate) so after paying it off, just let it close from lack of use, but never close it myself?

 

you may be getting penalizied because off your debt to income ratio.

It sounds like you have two large loans on there already.

 

NSX man, you sound like my grandmother, telling stories

Most of these are myths. I work with credit everyday, and here's what I see.

People with best credit ie over 800, have very few accounts open, meaning little debt. Never have any late payments and always payoff their credit cards in full. Do not have a mortgage or a car payment. A lot of these people are older. Majority of people in their prime working age, have credit in the area of 700-760, which is still excellent, because they have car payments and mortgages.

Do not leave balances, meaning do not buy something unless you can afford it with cash. Remember, credit score represents your risk factor as a borrower to the lender. The higher the number, the less chance of forfeiture.

 

That's a big jump. Only time will do that.

 

I heard that if you always pay your balance in full you can't build credit because you are not paying interest on it. Can I now assume that this is total B.S.?

 

That's also what this credit guy said on CNBC a few weeks ago. He said you should keep carry 10% of your max balance on your cards, & just leave it there. So on a $5K limit you should carry a $500 balance each month. $1000 for a $10K limt, ect.

 

That is pretty much crap. You build credit by having credit LINES open for lengths of time. If you put money on a credit card you are using the line of credit, even if it is paid in full every month. Any balance left on your card is DEBT. Most banks etc do not like debt in any form.

.02

 

I think my Mortgage & Car payment dropped it (mainly mortgage) Also, my debt-income ratio is too high since everything is in my name. house, suv, cc, etc.... maybe when I get married it will jump up a little too...

 

Debt ratio does not impact a regular bureau credit score.

Stick to a few basics...pay your bills on time, don't go crazy applying for credit cards etc & only charge what you can EASILY afford to pay back. Fuzzy gave you the best advise yet...only time can fix a big drop in score...

It seems everyone has a myth to peddle on how to increase your score, but since no credit bureau will ever tell their "Secret Recipe" for making the scores...How can anyone tell you how to "fix" it? It's not that cut & dry.

We could write a book & it still wouldn't be any easier to understand