The Essential Key to an 850 Credit Score
Many errors people make is closing unused accounts. This impairs them from reaching an 800 credit score. You should always leave open dated accounts because these are what we call "Golden accounts."
Golden Account
One of the most effective strategies to use to acquire 800 credit score is hold two to four Golden accounts in your credit report. Once you get an account that has been open for seven years you should never close it. This can be the difference between a 700 and 800 score.
Don't Have Too Many...
In the case that you are over-doing-it with revolving accounts BUT you currently have four Golden Accounts, you may want to close your revolving accounts (credit cards) that were opened the most recently. Try to keep a few national or bank credit cards such as a Chase Visa for example.
Many errors people make is closing unused accounts. This impairs them from reaching an 800 credit score. You should always leave open dated accounts because these are what we call "Golden accounts."
Golden Account
One of the most effective strategies to use to acquire 800 credit score is hold two to four Golden accounts in your credit report. Once you get an account that has been open for seven years you should never close it. This can be the difference between a 700 and 800 score.
Don't Have Too Many...
In the case that you are over-doing-it with revolving accounts BUT you currently have four Golden Accounts, you may want to close your revolving accounts (credit cards) that were opened the most recently. Try to keep a few national or bank credit cards such as a Chase Visa for example.
About the Author:
Home Buddies is a houston credit counseling coach for real estate investors. Home Buddies develops and implements a customized strategy to improve credit and builds a business development strategy to help investors or homeowners overcome obstacles to financing properties and building their portfolio.
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