Credit increase advice

[solocam_aggie]

Agree with ultra!

I've done the same experiment with Experian and Credit Karma. I monitored CC's with zero balance versus carrying some over several months. Zero balance (paid in full every month) kept my score the same over 6 months. After carrying a small balance for two months on one card, <$200 my score jumped 15 points. It seems a contradiction to paying in full every month, but creditors wanna see that you're responsibly USING credit. Card companies don't report your usage, only end of cycle balances so you'll show zero every month with payoff.

This is only my personal experience, not advice. Circumstances vary, so it might be worth seeking the council of a financial expert.

Good luck on keeping up with it. Highly recommend using monitoring like Experian, Karma or both. Its the only way you'll be able to see real time changes after a few months.

I've never thought about that. Makes sense. Here I was thinking that paying my card off in full twice a month was looking good on the credit report. May not be the case. Might try to carry a small balance on it for a few months. I would like to get into the 800s soon.

[Nado]

Agree with ultra!

I've done the same experiment with Experian and Credit Karma. I monitored CC's with zero balance versus carrying some over several months. Zero balance (paid in full every month) kept my score the same over 6 months. After carrying a small balance for two months on one card, <$200 my score jumped 15 points. It seems a contradiction to paying in full every month, but creditors wanna see that you're responsibly USING credit. Card companies don't report your usage, only end of cycle balances so you'll show zero every month with payoff.

This is only my personal experience, not advice. Circumstances vary, so it might be worth seeking the council of a financial expert.

Good luck on keeping up with it. Highly recommend using monitoring like Experian, Karma or both. Its the only way you'll be able to see real time changes after a few months.

Same with me, I did left a little balance on the card every month usually a little different each month by $5 or so but I was always paying more than the minimum payment and I would always have something on the card even if it was $15 or $20 so the cc companies can see I am using it and it isnt just a $0 balance every month. This is how I improved my credit score and bought a house and I paid off my older debt but I made sure they were removed from my credit.

IMPORTANT - just because you pay off a balance owed doesnt mean they take it off right then and there some place take up to 3 months if not longer than that to remove something that has been paid off. I had to send them letters telling them X account was paid off here is the proof remove it immediately.

[sharkhunter]

One trick is to get somebody to put you on as a used who has a credit card that they have had for ever and had great credit. It will drag there history on that card over to your report. This helps if you don't have a long credit history.