How To Get 800 FICO Credit Score
Meet The 800 Credit Score Club
You might think it is impossible or even some kind of magic, but there are many people walking around you which have an 800 credit score on their FICO report. The funny thing is that these people are not necessarily ‘rich’, they are ordinary families and individuals who know the secrets of how to get 800 credit score.
Who Are The 800 Credit Score People
In this short review you are going to learn how these people have archived what others do not even dream about. Getting a clear 800 credit score is something that may help you with most of your personal financial goals. How do I know these people are regular people, because my sister and her husband have a round 800 on all three of their credit reports!
She is not working now (looking for a part time job) her husband was working for a medical institution (administrative) and they have three gorgeous children.
Holding three credit reports with 800 FICO score on them, is the reason they got a home mortgage with the lowest rates in the country, and had an easy mortgage shopping experience. When they were shopping to refinancing their mortgage all the lenders where begging them to become their customers! They negotiated the best rates and haggled the mortgage broker for lowest fees and costs, as members of the 800 credit score club, they are VIP at their bank.
Where to Start The Journey To The 800 Credit Score
The way to a clear 800 credit score, is not an easy ride. But it is a ride for true believers, people who know that once they live correctly they would be at the top of the world, reach the Everest of the home economy. Working your way to a 800 FICO score means to give up on things you might never thought you could live without, and learn new things about what you really NEED in life.
If you are a married couple or living with a life partner, they need to be with you on this journey, because there will be difficulties and those if not managed together than you might quit right now.
Rules Of Thumb For Getting 800 Score
Only one driver at the driver’s seat - My sister and her husband decided that only one person takes control over the expenses and runs the family budget. The person in charge sees the whole picture, like a business unit, he can see incomes and expenses, and he is in charge of the family budget. This prevents two people buying stuff without foreseeing the outcomes.
Live a Modest Life – The American economy is spinning over people buying stuff they do not really need. Seeing 24/7 TV commercials an being tempted to place the credit number and signature down at the dotted line. Their credit was not always 800. When times where tough, the TV cable network was disconnected, all unnecessary house expenses were cut to zero. Yes this means giving up the Cell-phones even and returning to the good old Alexander Graham Bell machine called telephone.
How To Get 800 Credit Score Tips
Stay In The Cash Zone - My sister and husband do not carry credit payments from month to month. Yes they use their credit card, but buy only what they need and pay all the credit card debts in the following month. No Jack-In-The-Box credit surprises.
Because their credit is always straight and always on time, this has two great effects on the credit report and the creditors:
- First using credit cards gives you some ‘bonus points’ at the credit report over people who do not have any credit cards. Once you show you are using credit cards the creditors can learn something on your credit behaviors, not having any credit card is suspicious, and even if you have plenty of cash, lenders cannot learn about your debt management and credit behavior.
- The second thing is that having paying all purchases immediately means they are using zero credit balance each month. This makes my sister and husband the perfect borrowers as their credit balance is 0%. It might be not so beneficial for the creditors (who earn interest rates on these credit debts) but it make the lenders drooling to get these couple as mortgage customers.
These two factors have a huge effect on the FICO report. Each of the the three credit bureaus: Equifax, Experian, TransUnion have a slightly different way to calculate the score, but they all use the same FICO algorithm, in which the credit balance and the usage of credit cards has a significant factor.
Use Different Kinds Of Loans – My sister and husband have several small installment loans. This means that they prefer to pay everything in cash, but they keep some loans going like car loans and education loans. Of coarse these loans are paid perfectly on time and together with the credit cards and very low credit balance usage, make a beautiful picture for the credit bureaus.
Can You Be In The 800 Credit Score Club Too
Well you might be a member of the 800 credit score club, but it would take you some time to manage all the expenses, and learn to live a better planned credit life. My Sister and husband a few years ago were getting some assistance (credit repair software) to help them manage all the credit issues before they have learned to do it perfectly by themselves.
Getting some help at the beginning is not a bad thing, when the goal is a clear 800 FICO score. It actually allowed my sister and husband to focus on the small changes they needed to do, and solved them some issues they had tailing behind them. Starting the way up from a low credit score is quite difficult, improving a fairly good score is much easier task.
I have asked my sister and husband which credit software have they used. They said the best results where with a credit repair software called ‘magic repair’ which is by their experience has done the most effective affect on their score.
Here is where you can read more and get the ‘Credit Repair Magic Software’ .
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