The exact FICO credit scoring formula is a closely guarded secret, but it consists of five specific categories of information, each with its own weight. Here are some effective strategies for improving your credit score: **Secured Credit Card** One solid strategy is to open a secured credit card account. This works like a standard credit card but requires a deposit to "secure" the account. Your payment history gets reported to the credit bureaus, helping to build positive information on your credit report. **Damage Control** Addressing negative information on your credit report is crucial. If you have old collection accounts, consider negotiating with creditors. You might get some accounts completely removed after settling, while others can be marked as "paid in full." **Applying for More Credit Than Needed** It may seem counterintuitive, but applying for a few credit cards can be beneficial. Since 30% of your FICO® Score comes from the "amounts owed" category, having more available credit allows you to keep your usage low, which positively impacts your score. **Building a Payment History** Remember, 35% of your FICO® Score is based on payment history, and another 15% is influenced by the length of credit history. Paying your bills on time every month is one of the most effective ways to steadily improve your score. **Not a Complete List** These tips are just a starting point. Credit repair takes time and consistent responsible behavior—there are no quick fixes for bad credit. The best way to reach higher credit tiers is through dedication and patience.

I haven’t logged into this business checking account in months, but has happy to see this. Data points: 790 scores(roughly) No deposits in this checking account in 6 months+, but have a small balance sitting in there. Have 3-4 other Chase Ink cards with other businesses and zero balance for 2+ years. I am not moving forward with this yet, but may do so in the near future. The reason is there will still be a hard inquiry and it may or may not take a while to remove.

Implement a strategic banking and investment approach to enhance my financial portfolio. Here’s the outline of my strategy: 1. **Initial Deposits:** I will deposit $50,000 into two national banks, specifically Bank of America (BofA) and Chase. 2. **Account Allocation:** - **Checking Account:** I will allocate $25,000 into a checking account for easy access to funds. - **Certificate of Deposit (CD):** The remaining $25,000 will be placed into a 12-month CD to earn interest while keeping the funds secure. 3. **Credit Applications:** - After three months, I will apply for a $50,000 credit card with each bank. - Six months later, I will apply for a personal loan of $25,000. 4. **Credit Limit Increases:** Once I establish a relationship with these banks, I will request credit limit increases (CLIs) on my accounts. 5. **Personal Line of Credit:** After the CD matures, I’ll request a personal line of credit (PLOC) for $25,000. 6. **Further Investments:** I will repeat this process by depositing another $50,000 into Wells Fargo and Citi, following the same account allocation and credit application strategy. 7. **Business Credit:** Additionally, I will pursue business credit options and apply for business lines of credit (BLOCs) and credit cards with these four banks. 8. **Investment Opportunities:** Finally, I plan to use these funds to purchase a business that is already generating cash flow or invest in commercial real estate. This structured approach will help build a solid financial foundation and leverage banking relationships for future growth opportunities.