What things can you do to additionally boost a 750-800+ credit score?


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  • Official comment
    Stilt Team (Edited )

    Congratulations on your knowledge of building a credit score. This is very important information that most people don’t know.

    The only variable that you can’t make go faster is your length of credit history. It will take it’s time. An excellent credit score of 800+ takes > 6 years to build. The simple reason is that credit score is supposed to represent how well can a person deal with credit. To really prove that you know how to use credit effectively, you need to do it consistently over a period of time. That’s why credit score calculations have a weight for length of credit history.

    Below is just a quick overview of how credit score is calculated:

    There are 5 major components of a credit score.

    1. Payment History - Based on a borrower’s payment history. This is the most important factor. Making regular payments on previous credit is very important. Try not to be late on your credit card and other credit payments.
    2. Credit Utilization - Make sure you don’t max out credit cards. It is important to maintain a good utilization rate (< 30% of your credit limits).
    3. Length of Credit History - It is important to show that you can consistently use credit responsibly that’s why you length of your oldest credit account is also matters.
    4. Credit Mix - Having different accounts and types credit accounts can show that you can manage different types of debts.
    5. New Credit - Low number of recent credit inquiries are important to show that you are not looking for credit all the time.

    About Stilt:

    Stilt provides loans to international students and working professionals in the U.S. (F-1, OPT, H-1B, O-1, L-1, TN visa holders) at rates lower than any other lender. Stilt is committed to helping immigrants build a better financial future.

    We take a holistic underwriting approach to determine your interest rates and make sure you get the lowest rate possible.

    Learn more about us on Wikipedia or visit us at https://www.stilt.co. If you have any questions, send us an email at team@stilt.co.

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