Raising Your Credit Score

[aegis]

Hi,

I wanted to post this in the real estate forum, but it said I needed 5 posts.

I am 23 years old and would like to start investing in real estate soon, but I am looking to raise my credit score. I've had a credit card for a little over 2 years and my credit score has been stuck at 747 for the last 7 months. Is 750 some type of plateau or something?

Should I take out a small loan and then pay it off? Should I keep a small balance on my credit cards?

Any help would be greatly appreciated.

 

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[MJ DeMarco]

Andviv might be the best to tackle this question. Welcome to the board.

 

[Peter2]

In order for you to get a higher score, you need a mix of credit, like installment loans, credit cards, store cards, mortgages, etc. You also will improve with time. You need 5-10 years of credit history before you can go over 800.

 

[Daniel A]

You need 5-10 years of credit history before you can go over 800.

It took me 4 years and 4 months to achieve a FICO Score (credit score) of 806.

 

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