Establishing credit in order to invest in real estate

cicerone imposter
Reply Wed 18 Feb, 2009 07:12 pm
I'm not sure if this will be helpful, but I found this:
Best Action

Pay Down 90"100% of Revolving Balances

If the starting FICO score was: 670

Then, based on this action, the simulated FICO score could be in the following range:


How revolving accounts (credit cards, department store credit cards, revolving lines of credit) are managed is heavily weighted in the FICO score. FICO scores evaluate revolving accounts in a variety of ways, including comparing balances to available credit, as well as looking at the number of accounts with a balance. A general rule to remember: consistently carrying lower balances on revolving trade lines will generate positive points for a FICO score.

This simulation was based on paying down 90"100% of revolving balances.
0 Replies
Reply Thu 19 Feb, 2009 11:16 am
@Robert Gentel,
It was an attorney who gave me that site.
0 Replies

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