Houston Investor Credit Repair Coach on The Golden Account
The Essential Key to an 850 Credit Score
In obtaining 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".
A Golden Account
One of the main ways for acquiring 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
When you show too many open revolving accounts in your credit report AND you already show four Golden Accounts, you should close those credit cards (revolving accounts) that have been opened the shortest amount of time. In addition, you should always hold on to at least one bank or national credit card account open with your credit file.
In obtaining 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".
A Golden Account
One of the main ways for acquiring 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
When you show too many open revolving accounts in your credit report AND you already show four Golden Accounts, you should close those credit cards (revolving accounts) that have been opened the shortest amount of time. In addition, you should always hold on to at least one bank or national credit card account open with your credit file.
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 problems to financing properties and growing their portfolio.
posted by Credit Counseling at
6:06 AM
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