4 Rules of Credit Repair

Everyone wants a great credit score. What most don’t know, it takes sometimes years to build but seconds to lose if you don’t know what you’re doing.

In today’s lending and real estate world, a great credit score is more important than ever. Whether you already have great credit or looking to rebuild; here are some easy tips to follow.

#1 – 30% Rule
*Never use more than 30% of your available credit limit.

#2 – 6 Month Rule
*Never allow more than 6 months without any credit activity on one trade line.

#3 – 3 Trade Rule
*Ideally, you should have 3 revolving trade lines (credit cards) with a $5,000 minimum credit limit that has been open for a minimum of 3 years.

#4 – Closed Account Rule
*Never close a revolving account once it’s opened. A credit score sometimes isn’t enough. The longer a revolving credit account is open, the more weigh your credit score carries. When you close an account, you’re killing your credit history (weigh)!

There are more tips TeamDurf can give one looking to both grow and strengthen their credit. Good luck and get started building your score today! For more tips, contact us at www.TeamDurf.com or call us at 925-708-0006.