Credit Score Tips

760+ — Excellent: Best rates, lowest PMI, easiest approvals
740–759 — Very Good: Near-best rates, low PMI
720–739 — Good: Competitive rates, moderate PMI
700–719 — Average: Standard rates, higher PMI
680–699 — Fair: Above-average rates, limited program options
660–679 — Below Average: Higher rates, some programs unavailable
620–659 — Minimum Conventional: Highest rates, limited options
580–619 — FHA Only: Conventional not available, FHA with 3.5% down
500–579 — FHA with 10% Down: Very limited options

1. Pay Down Credit Card Balances — Utilization (balance ÷ limit) is 30% of your score. Get every card below 30% of its limit. Below 10% is ideal. This alone can boost your score 20–50 points in one billing cycle.

2. Request a Credit Limit Increase — If you can't pay down balances, increasing your limit lowers your utilization ratio. Call each card issuer and request an increase. Do NOT accept a hard pull — ask for a soft-pull increase only.

3. Become an Authorized User — Have a family member with a high-limit, low-balance, long-history card add you as an authorized user. You inherit their card's history. This can add 20–40 points quickly.

4. Dispute Errors on Your Credit Report — Pull free reports at annualcreditreport.com. Dispute any incorrect late payments, wrong balances, or accounts that aren't yours. Successful disputes can add 20+ points.

5. Pay Bills Before the Statement Closes — Your balance is reported to bureaus on your statement date, not your due date. Pay down cards before the statement closes so a lower balance is reported.

✗ Don't open new credit accounts — Each application creates a hard inquiry (-5 to -10 points) and lowers your average account age.

✗ Don't close old credit cards — Closing a card reduces your total available credit (raising utilization) and shortens your credit history.

✗ Don't make large purchases on credit — Increasing balances before closing can disqualify you or change your rate.

✗ Don't co-sign for anyone — Their debt becomes your debt in the eyes of lenders.

✗ Don't change jobs if possible — Lenders verify employment at closing. A job change can delay or derail your loan.

✗ Don't make large deposits without documentation — Unexplained deposits require sourcing and can slow underwriting.

Payment History (35%) — Pay every bill on time, every time. One 30-day late payment can drop your score 60–100 points. Set up autopay for at least the minimum on every account.

Credit Utilization (30%) — Keep total utilization under 30%. Under 10% is optimal. This applies to individual cards AND your total across all cards.

Length of History (15%) — Keep your oldest accounts open even if you don't use them. Average account age matters. A longer history = higher score.

Credit Mix (10%) — Having a mix of revolving credit (cards) and installment loans (auto, student) helps. Don't take on debt just for this — it's a small factor.

New Credit (10%) — Space out credit applications. Multiple hard inquiries in a short period lower your score. Mortgage and auto inquiries within 14–45 days count as one inquiry.