Here are 5 ways you can use to make it to the 800 club.
See you there!
The coveted 800 Club people think about it their dream about it and they wish they were in it and one of those persons was me just a little while ago. However, as of this month, I've officially hit the eight hundred Club 800 credit score and here are five ways. I earned the 800 score. By age 25 first reason I've had accounts open since I was 18 years old now does that mean I use them a ton?
No, does that mean I was very irresponsible and stupid stuff. No. Thankfully, I believe my first line of credit was five hundred dollars so you can only do so much damage with 500 bucks. However, I kept those open. From 18 to 25 years old. So seven years is very helpful. I have opened many accounts throughout time not all at once but throughout time little bit here a little bit there.
I think I have a couple of 12 accounts. I'd have to fact-check myself on that 12 12 accounts all credit cards and then one person alone, which is auto loan at two point one nine percent, which fun fact is I have a loan at two point one nine percent. However my savings account. What the emergency fund such is paying two percent.
So two point one, nine minus two is .19 take away the interest expense. I'm literally paying zero dollars in interest to borrow money. You can't go wrong there but having multiple accounts and having different accounts is another Factor the credit score takes into a case. So be diverse a lot of times credit card.
Issuers will get tricky and close your account. If you don't use it, so use your account. I have used I am I have one small bill on many different cards twelve dollars twenty dollars Thirty Something of that nature but use them throughout the year at least once a year to keep that line of credit open because the longer the history is.
The more likely you're going to hit the 200 Club I laugh at this because it really is laughable. I have I believe about $70,000 worth of credit available. Which means I'm the best guy to take the Vegas, I guess. Nope. Don't go no. No Vegas No gambling. Smart gambling and I'll talk about that another time.
However, I only use one percent of that. One percent maybe two percent on a very very crazy month, but using a very very small amount of credit. Shows that you're responsible if you're using 90% of your credit that shows that they may go overboard at some point. However, then I go on the other end of the spectrum and use one percent and credit credit card companies actually start minimizing and making the limit smaller which.
I guess it's a bummer but for someone who doesn't need 80,000 seventy eighty thousand dollars in credit. It really doesn't matter use as use the lowest amount of credit as you can while keeping the cards open That's My Philosophy at least and here's them on the surprises most. I don't keep any credit cards in my wallet zero none.
Why why have the Temptation it just does it it doesn't it? Don't click it does not click. It does not work. I don't keep any credit cards my wallet. They're all in a safe space at home here. And I only use them when necessary I plan out before I'm going to use them. So if I know I'm going to go somewhere like recently had some suits tailored.
I knew I was going to have those suits tailored. So I put the credit card roll up for that day. And I used it. That was it. There is no thinking about it. There is no maybe I'll use my able to know I will plan out my purchases. Because the reality is if you don't have a plan you're going to get into trouble.
So have a plan always and plan B if possible. I don't want to show proof wallet ID. health card gym card. some money. that's it. No credit cards needed no credit cards in the wallet. Are you part of the 800 Club? Are you part of the 700 Club? Which cover you part of if you're not part of the eight hundred Club do those things and that will help immensely.
If you're part of the eight hundred Club what other things have you done to raise it by a young age? Because I don't know many people in my age bracket have an 800 score and I feel pretty proud about that. Most people have a nice 800 Mercedes or 800 BMW. However, I haven't heard credit score and that makes me feel like a million bucks and it should.
Make you feel like a million bucks to comment below. I want to see what else you guys have done to raise your credit score and we'll make sure to comment like And subscribe and I will see you guys on in the club. Yeah say in the club.