How can I improve my credit score of 685?
I have a credit score of 685. It’s pretty good but I would like to improve it. I have a mortgage and a home equity-line of credit that are both payed on time and in good standing. I have 2 Credit cards and 7 store charge cards. The oldest Credit card is only 3 years old. The store charge cards are older. i don’t use them to often but do not want to close them becasue they are my oldest accounts. I have some old/closed CC cards that had some late payments. I also had a collection from an unpaid ticket. That collection was paid off 2 years ago.
Any tips on what to change: like closing accounts, moving balances around, asking for credit card limit increases?? The most damaging item is that collection. It was payed off in full when I finally learned about it. Can I get the collection agency to remove it or somehow make it look better.???
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4 Responses to “How can I improve my credit score of 685?”
Comment from dingy0bama0brat
Time February 21, 2010 at 12:23 pm
While I agree with the person who implies to pay in cash… in the U.S. it simply is against a person’s best interest not to have the highest possible credit score… so much to gain and leverage to boot 
So.. my answer to you is this:
Ask the CC to increase your credit limits. Make sure 100% of your CCs are paid in full. Pay that home-equity line down as much as possible as well.
Don’t close accouts, that can actually hurt you more often than help you
FACTA limits the ability for creditors to remove your history. I would ask for the collections agency to remove the delinquent history based on the argument that you paid it as soon as you were aware; however, I would not expect it to be likely that they can or will remove the derogitory information.
Comment from memva1970
Time February 21, 2010 at 1:12 pm
There are several ways to improve your credit score. The easiest ways are to pay down your credit cards. Try to keep your available credit in the area of 75-80% of your total credit limit on each card. One of the ways I keep my credit score high is by paying everything (lights, phone, groceries, gas etc…) with one credit card and paying the balance in full at the end of the month. Do not close any of the old accounts. The late payments will age and fall off.
Matt
Comment from MJ
Time February 21, 2010 at 1:39 pm
Every answer is correct so far, but take a look at contesting or disputing paid debts that are less than 7 years old, including the old collection. If you can get that removed, it will definitely add to your score. Don’t mess with anything small and that is over 7 years old.
Comment from victorschool1
Time February 21, 2010 at 11:25 am
Screw the Credit Score, pay off your debts, don’t borrow anymore, borrowing is for suckers.