Hello everyone! I’m 26 so my credit history is fairly young but I’ve taken great care into building it. I started using NerdWallet at the beginning of this year and I’ve followed my credit score closely on CapitalOne’s Credit Wise since about 2016. I have 5 student loans, never been late, no derogatory marks, no mortgage or car payment, all that jazz. I’ve paid off two small loans and have 3 larger ones remaining that total $16k.
My junior year in college my dad got a credit card offer through our bank that was meant to help young people build their credit history responsibly, by basically “sharing” with a parent, so my and my dad were on the credit card. I used it a few times a year to show that I could keep my credit usage ratio down (the limit was $2,00) and make monthly payments. Early 2018, our bank cancelled the card, due to my dad’s credit challenges. While there’s nothing “negative” on my report obviously it looks bad now because I have no credit.
When I first got on CreditWise I had a 707 score, which climbed up to 747. When they closed the card I plummeted to 681. Obviously, I was devastated. A few months later it returned to 707 and I was fine. I didn’t have a job at the time so the interest on my student loans climbed a bit, but I was on an IBR plan and making payments, but my score returned to 681 because my “loans increased.” I got a new job at the beginning of this year and I’ve been paying the loans down but my score has only gone up to 684.
Whenever I check things to do to increase it on NerdWallet and other places they say “Your credit report is squeaky clean, which means there’s nothing here for you to do. Nice!” All of the tips don’t work for me because I don’t have anything “bad” on my report. I want to get a credit card again but I’m limited with my options because of my score and I’m really discouraged because I’ve done everything right to this point. Something that wasn’t even my fault brought me to low and nothing right that I do now will take it any higher. Even when I simulate opening a card to have credit it’s only going to boost me 4 spaces. Please help.