Key Credit Score Factors

Payment History (35%)
- You're already acing this by making all payments on time.
Credit Utilization (30%)
- Utilization of 1–9% on a single card is typically better than 0% for boosting scores. This is because showing responsible use of credit (without maxing out) slightly improves your score.
- Let one card report a small balance (~1% of your total credit limit) before paying it off after the statement date.
Credit History Length (15%)
- Time plays a significant role here. If your credit accounts aren't very old, this will improve naturally with time. Avoid closing old accounts.
Credit Mix (10%)
- You’ve already diversified your credit profile with a personal loan and credit cards, which helps.
New Credit (10%)
- Applying for too many accounts or hard inquiries can temporarily ding your score. Avoid new applications if aiming for 800+.

Optimize Credit Utilization:
- Allow 1–9% utilization on one card to report to the bureaus before paying it off (e.g., $1,100 balance on $154,000 limit is <1%).
- Pay off all other cards in full before the statement date to show activity but no utilization.
- Once the statement cuts and the balance reports, you can pay it off completely to avoid interest.
Let the Personal Loan Ride:
- Your banker’s advice to make the minimum payment is sound. Paying it off early can slightly ding your score because it reduces your active credit mix. Letting it run its term shows long-term, consistent payments.
- Once the loan is paid off, consider whether adding a small installment loan again could maintain your credit mix if necessary.
Time Is Key:
- Credit scores naturally improve as your accounts age. If your score plateaued at 785, the remaining points may come with more time, especially if your average account age is relatively young.
Avoid New Credit Inquiries:
- Don’t apply for new credit unless absolutely necessary. Hard pulls stay on your report for two years and temporarily lower scores.

An 800+ score doesn’t provide tangible benefits over a 785. You're already in the “excellent” credit range, which qualifies you for the best rates and terms for loans and credit cards.
If hitting 800 is more for personal satisfaction, that's fine—but don’t let it disrupt your financial habits (e.g., paying unnecessary interest or delaying sound financial decisions).

Let $1,100 Report on Your Card: Don’t pay the $1,100 balance until after the statement cuts. This will show <1% utilization.
Pay Off After the Statement Date: Once it reports, pay it off in full to avoid interest.
Minimum Payments on Loan: Continue making minimum payments on your personal loan until it’s paid off.
Patience: Wait for your score to reflect these changes (credit scores often lag by a month or two).