Nobody will give you an exact figure.
How much can you raise depends on you personal financial situation which you did not specify, and on your willingness to sacrifice some stuff in order to archive that goal.
Personally I would not be over concerned on my own credit score, but I pay attention to my overall financial situation, or / and my total net worth.
But to answer your question. There are many false advices sometimes given even by bank employers (at least one of them gave it to me) like ”if you have a credit card and carry a balance on it then your score would rise”. This statement is false in most of cases.
Basically, Your credit score is mathematical probability that you would pay your debt on time, and would not miss a payment /
default on it. And the score is pretty accurate. So the answer to you question is: you need to make sure you your ability to pay debt will rise over the time. Then your score will rise accordingly.
For example if you carry credit card debt now, and you required to pay monthly payment on it, your score will rise if you pay off this debt completely. Why? Because you will have more free money available at you disposable once CC debt is payed off. Which you can spend on paying of new debt. if you chose to take one (mortgage for example).
So your goal should be to increase amount of disposable money per month that you have, and save it.
Then your score will catch up, once credit agency will notice your efforts.
dmk1492 · 9 years ago