Channel: Brandon Weaver

Category: People & Blogs

Tags: 609 credit repairfix my credit fastthe awesome life groupget a 700 credit scorecredit repair lettersbad creditfix credithow to get an 800 credit scorecredit repairbrandon weaver

Description: Check out 609 Credit repair 609creditrepair.com where we have credit repair letters that work and help you dispute items on your credit report! HIRE US TO REPAIR YOUR CREDIT FOR YOU: theawesomelifegroup.com GET NOTIFIED WHEN I GO LIVE (Every Saturday): thesubscribetribe.com PAPERBACK of The Easy Section 609 Credit Repair Secret: Remove All Negative Accounts In 30 Days Using A Federal Law Loophole : amzn.to/2FviqTq FAQs: goo.gl/vRpnW8 WEBSITE: 609creditrepair.com WEBSITE: theawesomelifegroup.com so you want to get that 700 that 800 score even you want good credit you want great credit excellent credit well you're on the right channel hit that subscribe track button now we want to break down how you can get to the highest level the highest fico score the highest fico achievers how do they get there so the idea here is that fico on their app on their website if you have the fico app which is great they actually tell you and break it down for you okay which we have here now fico of course is the main scoring model that most lenders use it is the one that when you talk about your credit score that's the one most people are talking about there are other credit scores out there but they're not used as often and typically aren't the ones that are utilized for mortgages for bank cards first for car loans that kind of stuff so if you want to be the highest fico achiever of course you want all good on time payment history okay 35 35 excuse me 35 is your payment history so no late payments okay really the highest fico achievers have no late payments no collection no charge ups nothing negative all good on time payment history now there are some very specific things which we're going to get into about how to break down that you know on-time payment history but no negative items now 30 is your amount of debt so you want to keep your credit utilization down so right there 35 is on time payment history 30 is your amount of debt we've got 65 that's the majority of your credit score in the fico model so less than that's right less than seven percent utilization individuals starting out you might want to get under thirty percent then under ten percent then under seven percent i know sometimes you know you're thinking oh if i get it under 30 i'm okay you are but if you want to be at the highest levels you want to get it under 7 now utilizing three revolving credit cards which we'll talk about a little bit later you want to pay those off to keep the credit utilization down you really don't want to carry a balance okay now 15 is length of credit history so your credit history 15 is your length of credit history so you want long credit history you want these you know credit cards you want these loans that you might have paid off or the car or the mortgage or whatever you want this long history they like to see that people not only can manage credit but manage credit over the long term so 15 is length of credit history now when i was starting out and got all the negative items off my credit report had some good positive history on there i didn't have a lot of credit history you know when i was first starting out but i still was able to get up way up into the 800s because i had some history on there and it was good and no on time no late payments all on time payment history and the amount of debt was low the credit utilization was low so you're looking at you know 65 percent your amount of debt your payment history and then 15 of your credit is credit history you got some good credit you're probably gonna be all right in fact the highest fico achievers their average age of all their accounts is nine years or more okay so most people can usually get that but the oldest account needs to be over 25 years over 25 years now that is a little bit more challenging for individuals who might be rebuilding and starting out but that's a small portion of the overall package again i didn't have over 25 years of credit history one one account one of the oldest account one account over 25 years old i still was able to be up in the 800 so you can be okay it's a smaller portion of the breakdown of the fico now 10 is the amount of new credit 10 of the amount of new credit typically the highest fico achievers have not uh opened up a new credit card recently okay in the past year and uh they really haven't had a lot of hard inquiries in the past couple of years in fact when um getting a mortgage getting a home loan we recommend that you do not apply for any new credit for about 24 months for about two years okay so when purchasing a home it can behoove you to get your credit up solid if it's good and it's squared away and it's ready to go you can in some scenarios some situations it can be helpful not to open up a credit card for a couple of years can help boost your score if you have the time and the ability to wait for it.