[Por_sha911]

Originally Posted by KC911

I haven't had a mortgage debt in 20 years, nor a credit card for the past dozen. I have a HELOC that I've had (0 balance for 99.9% of the time) that I have used to purchase rentals, etc., but the balance was paid off quickly. I just pay everything on time....always have. Out of curiosity I checked my score several years ago...825. I shun the CC industry (personal reasons), and use a debit (with NO concerns) exclusively....everyone's ituation is different. So.....mebbe a HELOC would work for ya....seems to be the only REAL credit thingy I have had for two decades now...works for me.

+1
When I paid off my mortgage it was the last loan I have had. I was advised it stays on the record for 7-10 years so when it came close to the 7 year mark when it comes off the reports I took out a HELOC from my bank. They were offering a sweet deal of no closing costs and a low rate for the first year. The banker insisted that I wouldn't get any value to my credit report unless I kept a balance due for at lease one year. I borrowed about 1/4 of the value of my home and paid most of it off after the first payment and the rest 2 months later. Very minimal interest paid. I keep the "loan" open with a zero balance. Other than that, for the last 10 years I pay for virtually everything by credit card and pay the bill in full when it comes. Zero interest paid. My score is over 800.

There is something missing in the equation that gets the OP's score so low.