🤔 Hmm, how long you have had established credit? Also the percentage of usage of revolving credit.

Your credit score fluctuates based on things like: Payment history, Amounts owed, Length of your credit history, Missed payments, Outstanding debt

Next step up or down? Those are rookie numbers.

I’m wondering if I need to take more credit out? Oldest line is ~8 years old. No late payments, I have like 4-5 active cards, paid off a car loan in 2023.

Well I would certainly prefer the next step to be up…

🤔👀👀🧐

We have a mortgage, and 3 credit cards no debt. Our percentage of credit usage is very low. I think each one of those cards has a $20k limit and rarely ever have $2k on it and mostly have less than $1k monthly. So I don't think you need more. Make sure you're limit to spending is good.

Do you see it differently?

See I don’t have nearly that credit limit. I have requested more for my current cards like every 6 months or so but always very small increases. That’s why I feel like I need to open a new line and try to get the max amount limit I can?

Keeping low balances and higher limits is best. Have you thought about a heloc? I know rates suck now, but maybe get a heloc and use it just a little? Like take a small amount and pay it back pretty quickly as not to pay much in interest? Pay off your car or some other higher interest debt, then pay down the heloc quickly?

Of course, are you just wanting a higher score for shits and giggles? Because anything over 740 is top tier as far as rates you would get on debt. I'm around 815, but floated 790 for years even though I don't use it. Since I implemented the Infinite Banking Concept, I don't take out loans from banks, and if I do it's to float until the first payment for convenience so I can take a policy loan and pay off the "snakes and dragons" so I can control my own debt.

I’m admittedly not as well versed on credit scores as I should be as a CFP. So to answer your question, probably yes, for shits and giggles!