Credit Score hike

There are so many different things that go into a credit score, so it is very difficult to determine exactly how to hike a score by ____ points. The general consensus is as follows:

35% payment history
30% amounts owed
15% length of credit history
10% new credit
10% types of credit used

So most important things are to pay on time, keep your balance to credit limit ratio low on revolving accts (under 10% is best), and to have a long established credit history.

You mentioned that you recently cancelled inactive accounts....that might not have been the best thing to do. Were they revolving accts? Were they in good standing (i.e. have you ever been late)? When you cancel accounts they can effectively make your credit history look shorter.

Also, you said that your balances are around 20%...i'm confused because you mention that you do not have credit cards. What type of balances are those?

quote:

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I have a couple cards I never use. Haven't closed them though. It hurts me that I never use them?

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I would make sure and use them every so often so that the creditor doesn't close them due to the inactivity. Just use it and pay it off before the statement date.