The key to an 850 credit score
In achieving a credit score of 750 plus there are several key factors that you must obtain, but none is more crucial than gaining a Golden Account. Often 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
The difference between a 700 credit score and an 800 is often the length of time the revolving accounts (i.e. credit cards) have been open. Once we have an account that has been open for seven years we should never close it, because this account will help you get a 800 credit score. One of the most effective strategies is to obtain 2 to 4 Golden Accounts in our credit report.
Too Many Open Revolving Accounts
The only occasion that you should start closing credit cards is when you just have too many BUT you also hold 4 or more Golden Accounts and one or a couple national or bank credit cards to show valuable credit once the expendable cards are closed. - 15224
In achieving a credit score of 750 plus there are several key factors that you must obtain, but none is more crucial than gaining a Golden Account. Often 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
The difference between a 700 credit score and an 800 is often the length of time the revolving accounts (i.e. credit cards) have been open. Once we have an account that has been open for seven years we should never close it, because this account will help you get a 800 credit score. One of the most effective strategies is to obtain 2 to 4 Golden Accounts in our credit report.
Too Many Open Revolving Accounts
The only occasion that you should start closing credit cards is when you just have too many BUT you also hold 4 or more Golden Accounts and one or a couple national or bank credit cards to show valuable credit once the expendable cards are closed. - 15224
About the Author:
Home Buddies is a houston credit counseling coach for investors. Home Buddies develops and implements a customized strategy to restore credit and creates a business development strategy to help investors or homeowners overcome obstacles to financing real estate and building their portfolio.
