How to Achieve and Maintain Perfect Credit

7 Common Traits Of Perfect Credit

Roughly one percent of the population has perfect credit, i.e., a FICO score of 850 (on a scale of 300 to 850). Folks with such a high credit score all have the following traits in common:
  1.  Between four and six revolving accounts (this means credit cards) 
  2. At least one “installment” tradeline (e.g., a mortgage or automobile loan) in good standing
  3. Several accounts around 20 years old with a long history of positive use (To get a score above 800, you need ten years of positive account history)
  4. No late payments (or other serious account errors) for at least the past seven years
  5. Very few credit inquiries (no more than 1-3 per six months)
  6. No derogatory notations; collections, bankruptcies, liens, judgments, etc.
  7. Debt levels on credit accounts of less than 35% of their overall credit limit In other words, long but sparse use of several accounts without any payment issues along the way.

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