Right now, it is 768 with CITI. I know that that is not terrible, but I opt for one past 800. Here are what I feel might be problems.
Although I am 71, I have had credit for only six years. I get offers every day for getting a loan, but I do not need one, so I ignore them. (I understand that performance on such a loan might add to the credit score.) That is all that I can see that is 'wrong'. here.
I have never paid one cent in credit interest as I pay my bills well before the statement deadline. I use only about, maybe, 5% of available credit. I have never had occasion to use a lot of credit and got a card only because I needed to rent a UHAUL truck once.
Why do you want to increase your credit score? It only matters if you intend to borrow $, and since you don't seem to be wanting to do that, I'm curious why a bigger score matters.
I will be honest and forthright: EGO. Essentially, that is all.
But is that 'reason' so very bad? Look at it this way, Mame: Is this not a good thing to aspire towards? Why do you, and so many others, think that such challenge is so fraught with mindlessness? - David Lyga
Well, I've never been concerned with credit scores but I think that in order for you to increase yours you have to get a loan and pay it off, or rack up some debt on a credit card and pay it off. Seriously. I really don't know, but I think paying off a debt in short order will increase your score.
Let us know when you have achieved your milestone.
I get VERY annoyed when what is told to me counters what I want to believe. Yes, getting a damn loan is 'necessary' but really stupid. Is not the five credit cards that I already possess, indeed, already a LOAN of sorts. If not using them cannot be deemed as being congruent with paying off a loan, then there is something very limiting about the American sense of financial logic. - David Lyga
As far as 'net worth' is concerned, I have a BS in Accounting so I already know how to do that. It seems that criteria which are, to me at least, rather trivial, are the determinants which construe this lofty paradigm of credit score. I pay my bills, period. That should be enough. As far as a loan is concerned, isn't $50,000 worth of unused credit sufficient to supplant the actual loan? Again, thanks. - David Lyga
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