Posted: 4/28/2007 1:26:12 AM EDT
| Im a 20 yr old student. My fico score is 767 and I have 2 CC in my name which i pay every month. How can I improve my score? |
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I won't call BS I had a 768 at 20. the best way to improve your score is to take some kind of financing. be it a loan another CC (sometimes they send checks you can cash and deposit into your account) but have some different accounts open with small balances on them and make your payments monthly. creditors don't care if you have paid off huge amounts they look for payment history. on time payments over time is key, pay down don't pay off and you'll be on your way to 820 in no time. 
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Keep making your payments on time, never keep a balance above 25% of your total AVAILABLE credit (so if you have one card with a $1000 limit and one card with a $3000 limit, don't have more than $1000 charged between the two of them) and keep your first lines of credit open as long as possible - it establishes a history. In my case, I started off at 18 with a shitty US Bank card with a $300 limit - it's still a shitty card, but I have several thousand dollars available on it now and a 3+ year history with that card. That looks good. Also, use your 3 free credit checks, one every four months, to keep an eye on things and make sure nothing is amiss. If anything is, deal with it stat. Honestly, 768 at 20 is very good - I wouldn't do too much more than what you're already doing. |