The key to an 850 credit score

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

Golden Account

The difference between a 700 credit score and an 800 is many times the length of time the revolving accounts (i.e. credit cards) have been open. Once we have an account that has been open for 7 years we should never close it, because this account will help you acquire a 800 credit score. One of the most effective strategies is to get two to 4 Golden Accounts in our credit report.

Too Many Open Revolving Accounts

In the case that you hold too many open credit cards in your credit report AND you already show four Golden Accounts, you may want to close those credit cards (revolving accounts) that have been opened the shortest amount of time. In addition, you should always keep at least 1 bank or national card open with your credit file.

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