Why don't I have a perfect credit rating?

Question

I have never been late, I carry several credit cards that I pay off every month, always have. I don't carry any debt. Do you have to be in debt to getter a better score? The score impacts my auto insurance rate.

Answer 1

I have never seen a perfect score in 15 years in the mortgage industry. The highest I have evr seen is 835

no one is perfect

Answer 2

Believe it or not if you leave a $10.00 balance on your cards each month your score will go up.  Since you pay the balance in full every month you are not showing "active" trade lines.  Instead it looks like you don't have any recent credit so it keeps your score lower.

Answer 3

Even though you pay off your full balance your debt to income ratio may be too high if you're using in excess of 30% of your card(s) limits....keep the usage down and your score will go up..because you're not using as much of your available credit.

Answer 4

Nobody has a perfect credit score. The minute you apply for a SS# (which is when ur born basically) points are taken off ur score...its called the government..enjoy!

Answer 5

It will take time to build up your credit score.  Usually require around 3 years of your record to establish good credit history.  Credit score are base on point system, point will deduct from you everytime when you or other request your credit history.............  

Helpful link to understand "How to achieve a perfect credit:

http://www.ehow.com/how_2101442_achieve-...

Answer 6

Try this one - http://creditreport.fateback.com - I monitor my credit score here during last 3 years. And also cleaned off some bad items from my credit report. You can apply for free initial plan and get your scores and reports for free.

Answer 7

You can't have perfect credit.  Even if you did get a max score in one place, each bureau uses it own formulas.  Yes, I said formulas, plural.  A formula that predicts a good mortgage risk doesn't necessarily predict a good auto loan risk or a good credit card risk.

The credit rating agencies have created a lot of hype about maxing your score to replace revenue lost when the government made them let us see our reports for free.  In reality, if you've been paying your bills, your score is OK.  If you're a deadbeat, your score sucks.  Knowing exactly what it is doesn't help you.  At some point your insurance company puts you in its best rate category and a higher score doesn't do you any good.