How to get FICO to 800?

Just a goal of mine that I can't solve currently

Actually, 720 or higher is good

Thanks foshizzle.

Right now the only knock I have is time. Average length is around 6 years.

I’m only 31 so I guess I just need to be patient.

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Thanks foshizzle.

Right now the only knock I have is time. Average length is around 6 years.

I’m only 31 so I guess I just need to be patient.

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you do realize his entire post is nonsense right?

He is descibing a cash back card and Amex that are avalable sub 650.

At 31 I would assume age of accounts is your stumbling block along with total accounts, be patient.

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Life at 750 means you don't have to worry about getting a loan you need. Life at 840 meant Citibank paid for legal services to save me a five figure bill, and gives me a monthly rebate on everything I spend on top of that so they can charge swipe fees on vendors I do business with. And Chase makes sure I waltz through security lines at airports without delay and gives me the occasional free first-class upgrade.

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Don't want to rain on your parade, but my CCs got me all those perks back when I was sitting around 725 credit score 1-2 years removed from college

I’m at 810 and I think your examples sound way overblown.

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I think I do need some sort of rental.

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Not sure what happened with him but owning rental property has zero effect on credit score, it likely just bumped his total # of accounts up enough to help.

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foshizzle

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First class upgrades? CDW coverage through CC?

Cmon man. None of those have anything to do with your credit score.

Like others have mentioned, for all practical purposes, 740+ is all the same. There's a floor to what interest rates you can get, below which, lenders are better off keeping their money instead of lending it at all. At 740 and up, you are right around there. Law of diminishing returns.

So I'm sorry to say but foshizzle has not painted an accurate picture.

OP - you're fine. With few accounts, it will just take you a little longer to get to 800+. Although I am not sure why one would fret over crossing 800, I know a lot of people do having read the FICO forums.

For reference - My AAoA is under 2 years, oldest credit line is about 7 years old now and at any given point I have over 25 CCs open with a LOT LOT more inquires (think in the 60s). Credit Score hovers around 810 recently. If more than 1 card closes with a big balance, score drops under 800, then goes back up once its paid the next month. I get denied for CCs often now (due to too many inquiries) but nothing small like that hurts my score anymore

The reason I mention this is because you can see how some abstract things make your credit score swing. Lenders know this and also know that if you cannot handle debts, your score is not going to be near 740.

TL:DR; No, credit scores will not get you first class upgrades or cover your liabilities. It is only going to give you access to better interest rates, the best of which can be had at 740 (some say 760) and up. For most people it stops at buying a house and car(s). For others it may mean a better business LOC rates, capital for new ventures and leverage for investing/speculation.

How big of a deal is utilization really? My credit score is good but there's always room for improvement. I use the hell out of my Southwest card because I'm trying to rack up points for flights. So i guess my utilization is high, but I pay the balance off in full without fail every billing cycle. I don't know why this would affect me negatively. Should I be using it less and maybe split up my spending among other my other cards to lower my utilization?