6 Secrets of People with PERFECT Credit Scores

Secret #1. They have an aged tradeline at least 15 years or older.

Older aged tradelines and higher credit limits correlate to bigger credit score increases. So closing old accounts will decrease your account age. Leave accounts open, AND use them once a year so the bank does not close them due to inactivity. After all, you must have credit, in order to have a credit score.

Secret #2. They DON'T have ANY late payments on their credit report.

Payments more than 30 days late can show on your credit report, and they will HAUNT you for 7 to 10 years if you don't take action. People with credit scores above 800 do not have any late payments showing on their credit report. It's just not usually possible because re-payment history is the largest portion of your credit score. Even one late payment can drag your score down over 130 points.

Secret #3. Their debt utilization is under 5%.

Within your credit monitoring site, go to the 'credit factors' section. It will tell you exactly what your utilization is. If your debt is over 30% utilization, your score is automatically dinged. This should be as low as possible. If you are unable to pay down debts, then a high credit limit authorized user tradeline will balance out your utilization.

Secret #4. There are NO collection accounts or negative public records.

Making payments on time means collections and public records do NOT appear unless it's a mistake, which actually happens a lot. Keep an eye on your credit report to ensure there are no inaccurate accounts on your report. Any negatives on your credit report should be addressed immediately.

Secret #5. They have at least 10-20+ revolving tradelineson their credit report.

They have a mix of credit cards, auto tradelines, a mortgage, student loans, personal loans, etc. These are incredible to have on your credit report if you repay responsibly. If you don't have many tradelines, you could explore authorized user tradelines, in addition to credit boosting primary tradelines in your own name (get with me for my approved list). The more accounts, the more solid your credit report will be.

Secret #6. They keep credit inquiries to a minimum, usually under 10 on each credit bureau.