Golden Revolving Account - The Gold Mine for Boosting your Credit

By Cliff Pape

The Essential Key to an 850 Credit Score

Older accounts should not only be used, but are actually what we call a golden account. If you are trying to reach a credit score of 800 there are several key factors that you must follow and the most important is getting a "Golden Account." Many times people close older accounts because they are not using them.

A Golden Account

One of the best strategies to use to get 800 credit score is hold two to four Golden accounts in your credit report. Once you acquire 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...

Let's say 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 hold on to a couple 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 restore credit and creates a business development strategy to help real estate investors or homeowners overcome problems to financing properties and building their portfolio.