690 credit score. How can I raise it above 700?

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4 posts
Eric79
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Joined: Tue Feb 14, 2012 9:21 pm
Location: USA

690 credit score. How can I raise it above 700?

Postby Eric79 » Tue Feb 14, 2012 9:47 pm

Just joined this forum to see if I could get some quick advice from some of the members on here that have rather good credit.

So right now I am trying to raise my credit above the 700 mark as I am just around 10 points under 700 (690 credit score) according to last months reports. My score has been going up a lot the last 3 months and has improved 50+ points over the last 6 months

Currently I have 2 credit cards. One is a Visa which has a $500 credit limit and the other is a MasterCard(Capital One) which has a $750 credit limit. I am using about 45% of my credit. What I want to do is get that number to around 30%.

So my question is should I get one more credit card to get that number down closer to 30% or call my Capital One Card number and ask for a higher credit limit? Now if I really needed to pay my cards off I could but I don't want to do that right away.

Also I just got that Capital One card about 10 months ago. I would also probably get a better interest rate considering my credit score is much better and I am looking for a card with some decent benefits. If you could suggest a card that would be great.

Thanks in advance!


ooxs
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Location: Michigan

Postby ooxs » Wed Feb 15, 2012 7:34 pm

Capital one might lower your interest rate but what is going to help you the most is a credit limit increase. Unfortunately with capital one, you stand a better chance moving to Michigan than getting them to give you a credit increase. Try paying your cards down and stay under 25%, the good news is this, if you call Capital one and threaten them to close your account, they will volunteer to lower your rate just to keep you

Applying for a new card might lower your score 10 points but after a few months of payments, you will jump right back to where you were and even higher try this card and let me know if you have any questions/concerns.

Good Luck and welcome to the forum

Eric79
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Joined: Tue Feb 14, 2012 9:21 pm
Location: USA

Postby Eric79 » Wed Feb 15, 2012 8:28 pm

Thanks ooxs for the helpful response. Also I do live in Michigan ;)

And Yeah I was thinking if I applied for another card it might hurt my score a little.

But I was hoping to possibly get a Discover More credit card since I want to use it for gas and eating out so I can get money back etc. Also it would be great if I got a higher credit limit and better APR%. That would help my score out in the long run but don't know if Discover would accept me. Still not sure what to do.

Thanks again.

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bisbicos
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Joined: Sun Jul 17, 2011 12:38 am
Location: Newton, MA

Postby bisbicos » Wed Feb 15, 2012 9:06 pm

I was approved for a discover more card with a 630 credit . And a limit of 1250. Try your luck
Credit Cards
American Express: Fidelity Rewards (2% cash back) 9.5k
Zync NPSL
Discover: Discover More (5% rotating categories) 12k
Mastercard: Chase Freedom (5% rotating categories) 4.6k
Visa: Citi Forward (5x pts on restaurants) 15.7k
Citi Dividend (5% rotating categories) 5.6
Capital One Journey (1.25% cash back) 1.25k
BofA AAA (5% on gas) 2.5k
PenFed Platinum Rewards (5% on gas 3% groceries) 7.5k

Future Cards
US Bank Cash +
Chase Ink



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