Advice needed to increase credit score
Hi. My current credit score is ranked as "Good" by equifax (mid 600's score). I wanted to see is there a way to increase my credit score quickly and then be able to sustain it.
Here's what I currently have:
- 1 Infinite Visa card (Have had it for about 5 years, 5000 limit. No balance)
- 1 Infinite Visa card (Have had it for about 1.5 years, 5000 limit. No balance. Barely use it as I am not a fan of aeroplan points system)
- 1 MC Elite (Have had it for about 4 years, 7500 limit. My go-to card for everything - small, big purchase, all go on this. Usually don't carry a big balance, but will carry 2500-3000 for a month from time to time. I do make the minimum payments though).
- 1 MC Platinum (Have had it for 7 years now. 3500 limit. Used for minor expenses ~100/month. No balance carried).
- 1 MC Platinum (My oldest card with the most history. Only 300 limit as I don't use it at all. Figured I will keep it just to retain the credit history).
- 1 MC Elite (My most recent card - Just 10 months old. Signed up when the issuer was offering FYF and good chunk of welcome points. Don't use it much. No balance)
- 2 cell phones through the same carrier.
- 1 Cable and internet account with the same carrier.
- 1 Car loan (original 4 year term on a loan of 28000 at 2.8% interest. 2 years remaining. Amount remaining ~14,500).
- 1 Mortgage of 325k. Paid on time. about 24 yrs to go. No late payments ever. But THIS DOES NOT SHOW ON MY CREDIT REPORT.
I was wondering if there's anything I could do to make my credit score better. Like cancelling some of the cards? if yes, which ones and why?
Also, I can paydown the loan in a lump sum amount right away but I like to keep liquid cash handy for unexpected expenses. Is there going to be a vast improvement in my score?
Please note that I have 3 late payments in the past 18 months (1 on a credit card and 2 on my cable account). I am otherwise very punctual with paying my loans.
Help will be appreciated.
Here's what I currently have:
- 1 Infinite Visa card (Have had it for about 5 years, 5000 limit. No balance)
- 1 Infinite Visa card (Have had it for about 1.5 years, 5000 limit. No balance. Barely use it as I am not a fan of aeroplan points system)
- 1 MC Elite (Have had it for about 4 years, 7500 limit. My go-to card for everything - small, big purchase, all go on this. Usually don't carry a big balance, but will carry 2500-3000 for a month from time to time. I do make the minimum payments though).
- 1 MC Platinum (Have had it for 7 years now. 3500 limit. Used for minor expenses ~100/month. No balance carried).
- 1 MC Platinum (My oldest card with the most history. Only 300 limit as I don't use it at all. Figured I will keep it just to retain the credit history).
- 1 MC Elite (My most recent card - Just 10 months old. Signed up when the issuer was offering FYF and good chunk of welcome points. Don't use it much. No balance)
- 2 cell phones through the same carrier.
- 1 Cable and internet account with the same carrier.
- 1 Car loan (original 4 year term on a loan of 28000 at 2.8% interest. 2 years remaining. Amount remaining ~14,500).
- 1 Mortgage of 325k. Paid on time. about 24 yrs to go. No late payments ever. But THIS DOES NOT SHOW ON MY CREDIT REPORT.
I was wondering if there's anything I could do to make my credit score better. Like cancelling some of the cards? if yes, which ones and why?
Also, I can paydown the loan in a lump sum amount right away but I like to keep liquid cash handy for unexpected expenses. Is there going to be a vast improvement in my score?
Please note that I have 3 late payments in the past 18 months (1 on a credit card and 2 on my cable account). I am otherwise very punctual with paying my loans.
Help will be appreciated.