High net worth but low credit score advice pls
I went to Transunion and got my report and found my credit score to be 704 which is on the low end of "Fair". (The range is 300-900, fair is 700-749).
I have 4 credit cards with the following limits:
1. MBNA MC (for personal expenses): 33,900
2. MBNA MC (for business expenses): 10,000
3. Amazon Visa (for travel/ForEx only): 7,000
4. PC MC (for PC stores only): 10,000
My credit report goes back to 2006. May have had 1-2 missed payments over the entire time, but certainly not recently. All accounts are in good standing. My 2 MBNA cards and the PC are new as of 6 months ago. (I previously had the old MBNA and PC, upgraded to World Elite).
My credit utilization averages $15k a month. I keep high credit limits because occasionally I make big purchases at once. I'm in the midst of building a house, so I might put down $20k a one time for some construction expense. If I go on vacation, I might spend $10k at once at PCTravel.ca. I keep NO balances, and the cards are paid off every month. As you can see, my credit cards for cash back only.
My income is over $600k a year. I have over $2.5m in liquid investments (ETFs, mutual funds). I have a $850k construction mortgage on my house. No loans of any other sort.
I want the Tangerine card because I'm buying about $40k worth of furniture, so the 4% back would be awesome. If not, I'll use MBNA for the 2% back.
Is the low score because I have too much credit available to me, even though I haven't had any problems maintaining the cards? Should I decrease some limits? Is it because I have recently upgraded 3 of my credit cards in the last 6 months? Do credit agencies care about your net worth / investable assets?
I know this is 1% problem and I'm not looking for pity. I just want to figure out my credit report. RFD has been great in this respect. Thanks in advance.