Debt Consolidation Credit Counseling In Phoenix

The fundamentals to an 850 credit score

Many mistakes people make is closing unused accounts. This prevents them from reaching an 800 credit score. You should always leave open older accounts because these are what we call "Golden accounts."

The Golden Revolving 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. As soon as we have an account that has been open for seven years we should never close it, because this account will help you achieve a 800 credit score. One of the most effective strategies is to acquire 2 to 4 Golden Accounts in our credit report.

Don't Have Too Many...

The only occasion that you should begin closing credit cards is when you simply have too many BUT you also hold 4 or more Golden Accounts and 1 or a couple national or bank credit cards to show substantive credit once the frivolous cards are closed.