Building your credit

[Brian Wilson]

Good Morning BP!

I'm at a bit of a cross road, and thought I would seek out some sage advice from the more seasoned individuals here on BP.


Goal: Trying to increase my credit score


Current stats: (score 709 according to Equifax via mint)

2 credit cards (avg 11% or less monthly usage on credit line)

-one account was opened in Jan 2016 the other in Jan 2017

5 total inquiries on my Equifax report

Average age of credit is 11 months

No debt

No additional loan history ( I've heard debt diversification helps boost your credit?)

I regularly check Mint and have been slowly increasing my score since getting my first credit card. However after just one inquiry for a home loan it brought my score down 13 points.


So my question is, since I only have 2 accounts open should I open more? How long do you normally wait between opening a new account?

Any additional advice and insight to helping me build my credit would be phenomenal, my short term goal is to leave the low 700's and go into the 740 range then ultimately beyond.


Thanks in advance!