Apply For Credit Cards With No Credit Needed
My fico score is 747. How high will it go with having only Credit Cards?
I have three Credit Cards with the oldest account about 2 years old. I do not need or want a car loan or a mortgage. What is the maximum score I can acheive with just keeping Credit Cards. Also, will I be considered a high risk since I have no other type of credit obligation? My credit limits are not very high on the accounts that I do have. At what Fico score should I apply for another card to receive a high limit account?
I carry hardly any balance on any of my accounts. I use them and pay off the balance at the end of the month just to have a ontime payment history.
If you show you can handle different types of credit at the same time, you are rewarded with a great credit score. In other words, get installment loans like vehicle, personal loan or mortgage. Get revolving credit like Credit Cards: Visa, Mastercard, Sears, Sunoco Gas, Costco. By mixing it up, you demonstrate you can manage your credit because you will have short term and long term credit with a fixed payment. As well as a “variable” monthly payment on your Credit Cards.
Keep these accounts open with a balance of 70% or less and paid on time and you will witness your credit score climb to great heights.
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