Credit Coach Home Buddies on the Credit Boosting Golden Account

By Cliff Pape

The fundamentals to an 850 credit score

In reaching a credit score of 750+ there are several key factors that you must obtain, but none is more important 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".

The Golden Revolving 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 obtain 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.

You Can Over-Do It

If you are over-flowing with credit cards BUT you currently have four Golden Accounts, you need to close the revolving accounts (credit cards) that were opened the most recently. Try to hang on to a couple national or bank credit cards such as a Chase Visa for example.

About the Author:

Home Buddies is a real estate investor credit repair coach. Home Buddies develops and implements a customized strategy to restore credit and creates a business financing strategy to help investors or homeowners overcome obstacles to financing properties and growing their portfolio.