The fundamentals to an 850 credit score
In reaching a credit score of 750 plus there are several key factors that you must obtain, but none is more critical than gaining a Golden Account. Many times people close older accounts because of their lack of use. This is a common mistake. As we will see, these older accounts should not only be used but are actually "golden".
Golden Account
One of the main ways for getting an 800 credit score is to obtain several Golden Accounts. Once an account has been open for 7 years, it is considered a Golden Account.
Too Many Open Revolving Accounts
Assuming you show too many open credit cards in your credit report AND you already hold 4 Golden Accounts, you may want to close those credit cards (revolving accounts) that have been opened the shortest amount of time. Also, you should always keep at least one bank or national credit card open with your credit file. - 16955
In reaching a credit score of 750 plus there are several key factors that you must obtain, but none is more critical than gaining a Golden Account. Many times people close older accounts because of their lack of use. This is a common mistake. As we will see, these older accounts should not only be used but are actually "golden".
Golden Account
One of the main ways for getting an 800 credit score is to obtain several Golden Accounts. Once an account has been open for 7 years, it is considered a Golden Account.
Too Many Open Revolving Accounts
Assuming you show too many open credit cards in your credit report AND you already hold 4 Golden Accounts, you may want to close those credit cards (revolving accounts) that have been opened the shortest amount of time. Also, you should always keep at least one bank or national credit card open with your credit file. - 16955
About the Author:
Home Buddies is a houston credit counseling coach for investors. Home Buddies develops and implements a customized strategy to boost credit and creates a business development strategy to help investors or homeowners overcome problems to financing real estate and building their portfolio.
No comments:
Post a Comment