How can I increase my credit score?

I am twenty-two years old and my FICO score from Experian was a 738 four or five months ago. I have:

1. a close to $75,000 mortgage with an initial balance of $83,000

2. four credit cards with a total limit of close to $55,000 (only one of which has a balance [$8,000 on it but at 0% that I will pay off before any interest accrues])

3. about $21,000 in student loans that are not yet in repayment (I am finishing college soon)

4. no auto loan payments (paid cash for my wife%26#039;s car and mine)

I am trying to increase my credit score so I can get the very BEST rate on a HELOC (home equity line of credit) so I can begin my real estate career! Hopefully, I can find something lower than prime - 1.00% because I have already been offered that.

How can I increase my credit score?school loans

The number one credit killer is debt.

-Kill the 8000 and your credit will jump fifty points or more. Agree that you should still use the cards at lease once each month.

-Consolidate your student loans. Normally, student loans are multiple in nature. Even though consolidating them doesn%26#039;t change the balance, it does mean a higher credit score because you have less accounts with balances on them. They should get their own category in a credit report, but they don%26#039;t. I know, I know, who makes up all these rules.

-Time - inquiries stay on for two years so you must wait them out. If you have any newer credit cards (within two years), this also hurts your score. You need to wait them out.

How can I increase my credit score?

loan

Best thing to do is not spend what u dont have... if u cant pay off ur credit card bill in full for the month then don%26#039;t buy that stuff... (except for mortgage).

The only thing u should have a debt on is no interest financing and anything that increases in value like real estate.

Try to use less than 20% of ur credit (don%26#039;t max out ur cards), increase ur salary, make sure to use all of ur credit cards at least once a month (cancel the ones u dont use).

good luck!|||I wouldn NOT suggest you to take out the HELOC against your house. Especially you owe $55,000 in credit card (even with $8,000 will be pay off with 0% interest rate), that you still owe $47,000 in credit card. What is the interest rate? The minimum payment for your credit card is like $1,100 a month...and don%26#039;t forget that once you finish school, your $21,000 student will kick in in re-payment status. You need to focus on paying off the credit card debt and then your student loan first before you start your real estate career (is that what the HELOC money is for?). I know you are asking to raise your credit score, but that is a very BAD idea.