Q My FICO score is 698, Last year, I paid off a debt to the IRS; refinanced my home, which has $300,000 in equity; and I carry less than $5,000 on three credit cards with $70,000 in credit available. What steps are needed to score above 720? I have no late payments and my debt-to-income ratio is respectable.

-Via the Internet

A According to industry standards, your credit score is very good. FICO scores range from 300-850, with 720 or more as excellent. To kick your credit score up a few notches, let's review some tips from myfico.com:

Pay your bills on time. Delinquent payments have a negative effect on your credit score--even if they're not recent.

If you have revolving credit, keep the balances low. And, it's better to pay off debt than to keep transferring balances from one card to the next.

Older accounts have more weight than new ones. So, if you've recently established credit, give it at least a year to build a positive history.

When shopping for new loans, do so within a specified time. In other words, don't apply for a new loan every other month. This approach will make you took risky.

Open new accounts as needed. A good credit mix, such as credit cards and installment loans, is good to have, but too many can lower your score.

--T.A.S.

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