Credit Score?

Discussion in 'Credit Talk' started by camping, Jun 24, 2015.

  1. camping

    camping New Member

    I have a credit score of 779. I have a home,car etc(which I own, no payments) I have never been late on my credit card(which has a balance, under $5000.00) and I always pay more than the minimum every month. Why is my credit score not higher,
    ? only credit card debt?
     
  2. Vettecor

    Vettecor Active Member

    Is this a FICO score or a FAKO ? If its a FICO (which is the ONLY score you care about), 779 is pretty good.

    Your credit card has a $5000.00 balance or lower BUT what is the limit on that credit card ?

    Utilization is very important and if your utilization on your credit card is high that can bring your score down.

    We need more information to give you better advice.
     
  3. jam237

    jam237 Well-Known Member

    1. Very rarely will anyone get the full 850. It's probably easier to get the nearly impossible 0 score.
    2. You need to remember that you don't have ONE score, you have at a minimum 3 FICO scores, depending on which credit reporting agency's data was used for the scoring.
    3. What did your score report say was the reason for your current score?
    4. As Vettecor said, the best guess is Utilization. For a $5,000 balance to be close to the ideal utilization mix, the credit limit would need to be $15,000-20,000.
     
  4. Bbiendayer

    Bbiendayer Member

    FICO scores range from 300 to 850, where 850 is considered to be the best score achievable and you have a 779 which is approx 91.6% now this is very good what else you want ???
     
  5. jam237

    jam237 Well-Known Member

    Ironically, the things that are great, are probably keeping you from going higher.

    Mortgage and car payment would have a great improvement, not only alone, but it would improve credit diversity.
     
  6. isaacll

    isaacll New Member

    1 more good card would help.
     
  7. JeffWall

    JeffWall New Member

  8. turconator

    turconator New Member

    To piggyback off all the other on point responses, if you have a true 779 score, for all intents and purposes, you have perfect credit. You can pretty much do with credit anyone with and 850 score can do.
    Like others have said, it may be your utilization that affects it, but again, consider yourself part of the privileged few.
    My hats off to you Sir. :)
     
  9. JoshuaHeckathorn

    JoshuaHeckathorn Administrator

    Hey camping, would you be willing to come back and let us know what kind of limit you have on your credit card with the balance?

    I agree with the others though, it sounds like your credit utilization ratio might be holding you back a bit. A few additional credit cards in good standing might give you another bump, but really- congrats on having such a high score. I wouldn't be too worried about trying to push it higher. Just keep doing what you're doing. It's obviously working.
     

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