Why the fuck won't my credit score go above 760
Depending on who you ask, it's been at 760 for about a year and a half now. Never missed a payment, never paid late, never did anything wrong. I have 8 cards now, total ~$40,000 credit limit, and with all major banks.
The fuck is this, Veeky Forums
Other urls found in this thread:
probably not enough income
>8 cards total
I'm pretty sure having too many cards actually counts against you, regardless of whether you make all your payments on time. Also, it matters how you use your credit too. If you regularly go above 50% of your credit limit, you are probably hurting your score. Decent websites will give you a breakdown of what is contributing positively or negatively to your score. I'm pretty sure this is one such website: freecreditscore.com
I see you are using the TransUnion website. I highly recommend against that as they are shady as fuck. They literally scammed me out of money by convincing me to pay for my score from all 3 companies and they never delivered. In the end it's my fault for not taking it up with my bank in a reasonable amount of time, but still... fuck them
>I have 8 cards now, total ~$40,000 credit limit, and with all major banks.
I dont know exactly how your fucked up scoring system works, but I'd guess that this count's against you.
Who in their right mind would have 8 fucking credit cards and 40k credit limit?
Unless you are a criminal or have a job that involves a lot of travel and situations where you'd need that amount of cards and money, that looks really fishy.
And in the latter case, I would assume one discusses that situation with the bank, to get some good conditions, or have the cards on the employer anyways.
But the real reason:
>they see you are browsing Veeky Forums
>instant shit score
Who the hell cares?
760 is good enough for most things you would need.
I just got my first credit card last April when I was 27, and no lines of credit prior to that. Just checked my score and it's 771. No fuckin idea how it's possible but I'll take it.
Just have that one card and barely even use it.
Having all those cards hurts you, you will probably need to spread a certain allocation to each card every month and pay it all with no late payments. In short you need more income because all the cards you're not using count against you
why do you retards bother spewing bullshit?
more credit accounts raises your credit score, similarly, a higher credit limit allows you to keep a low utilization which also raises your limit. the only negative might be that depending on when he opened those cards it might drop his average account age.
ITT: cucks speculate on how to improve their good goy score
yes very diligent, good good.maybe try playing around with your debt level on each of your credit cards each month? after all nobody knows ou-uh..their formula for credit score so its impossible to say. probably just keep on guessing im sure they will trust you more eventually.
OP asked
Not using credit is like saying no to free money
Stay bluepilled
>not paying off your credit card in it's entirety every month while you rack up interest and not take advantage of money they give you back.
who is the good goym again?
How old is your oldest account? What is your average credit utilization ratio?
>t. Didn't pay his CC bill on time
>t. Doesn't realize credit cards give you free money if you aren't a dumbass
Also, how does it feel to know a college freshman has better credit than you?
>24
>Paid off student loans
>Paid off auto loans
>Always paid on time and paid more than required
>Never closed a credit card
>Have $22,000 in available credit via cards
Can't push over 784 myself. Not sure why. In fact my score dropped to 781 after I paid off my car loan.
Own three cards, never spend more than 50% of your limit, and pay it off at the end of the month. You will have 800.
Might take six months to go into effect, but you must follow to a T. If not, do it another six months
no one cares that your parents added you an authorized user you child
Don't mind me. Master race passing through.
Trump, plz
2 and a half years, average utilization is about 1%.
Not too bad, I should've gotten a credit card earlier (didn't get one until I was almost 20). 780 is good, don't fuck it up
Sheeeiiiiit
Hey op use you credit cards for every purchase you make and pay it off the next day. that shit will give you hella score hella fast
How is this only 80th percentile?
I thought American's were riddled with CC debt
>2 and a half years
This is likely the main thing holding you back. Unfortunately, there's not much you can do besides keep using credit responsibly and wait.
I have the same issue but I checked with my bank and they gave me a report with 800 something. maybe is the ck algorithm.
That's not a FICO score or even on the FICO scale. FICO and similar scores range from 300 to 850. That's some other kind of score altogether.
Go sign up for CrdiKarma. Its free, secure, and uses Vantage score, which is a very approximation to FICO.
I wish I knew how transunion worked. My transunion score is always significantly lower than my other scores. I have a 660 on transunion but a 789 on experian
Can anyone explain the whole Credit/ Credit card thing. Why dont Americans pay with Cash or Debit Cards? Why do you want to build credit? Is it so you can borrow more money for consumption? Does it affect your mortgage?
basically we can borrow to purchase things or experiences we can't otherwise afford, and then pay back with dollars that are worth less due to inflation and our own larger future earnings potential.
Since we value conspicuous consumption to the point where people are actually unhappy if they can't have what their neighbors have borrowed, this works well. We all live way beyond our means and willingly pay the vig. Ironically this produces its own multi-billion dollar market which contributes directly and indirectly to the growth and inflation that supports the system. We create wealth hand over fist on the mere belief that we someday will. The net result is like going back in time to give ourselves money which is then produced in the future by our having taken it back in the first place.
Those that attain actual wealth here do so by freeing themselves personally from the debt cycle, but until that happens they get to live like the wealthy anyways, and it's likely borrowed money that will ultimately be used to buy their freedom.
Alright, thanks for the explanation mate.
God bless murica
you're welcome.
this use of credit is one of the main reasons americans work so hard and are an economic powerhouse. It's also the main cause behind our massive consumption and our tendency to innovate in business as a nation. We have access to quick, easy money. This would seem to make the money worthless, but counterintuitively it tends to stabilize the value and spur growth. Most other countries follow our model of credit to some extent, but few can compete with the simple American hedonism and desire to flaunt.