Released on: October 9, 2008, 11:15 am

Press Release Author: J. Ochs

Industry: Real Estate

Press Release Summary: Beyond how to apply for a credit card, chances are, you were
never taught credit education in school. A working knowledge of our credit system is
one of the most important things you can have in today's society.



Press Release Body: FOR IMMEDIATE RELEASE

How to Optimize Your Credit Reports To Get Approved For Anything

10/09/2008

Beyond how to apply for a credit card, chances are, you were never taught credit
education in school. A working knowledge of our credit system is one of the most
important things you can have in today's society. With more than 50% of the US
population never seeing their own credit reports, and nearly 90% not able to read
their own credit reports, I think you will find this information very valuable.

I think it is everyone's dream to have perfect credit, and be able to apply for
anything without worrying about being turned down. But do you really know what
perfect credit looks like? In this article, I will outline the perfect credit
profile, and share with you how you can get on the road to achieving perfect credit
for yourself.

First of all, I want to start by saying that some of what you read here may not make
sense to you, because you have probably been told things such as it is good for your
credit if you pay off your credit cards each month and not carry a balance. Where
you would be correct in thinking that it is better for your personal finances, it
will only cause you grief where your credit is concerned. There are many common
myths when it comes to credit, so sit back, relax, open your mind, and get ready to
learn.

Maintaining the proper mix of accounts

For optimal credit, you will want to have the proper mix the following account
types. Too many of some types of credit will hurt your credit scores.

Mortgage Accounts (Ideal 1-2 accounts): Having at least one mortgage account will be
an advantage to your credit. If you have not yet purchased a home, this gives you
something to work toward.

Installment Loans (Ideal 1-3 accounts): Installment loans such as auto loans are
good, but you don't want to have more than a couple of them. Owning too many auto
loans or other personal installment loans can cause you to look over-leveraged.
There are also other types of installment loans that are not as valuable for your
credit such as easy credit loans for furniture, household goods, etc. These may be a
good way for someone with little to no credit to establish credit, but they are not
the best way to obtain the best scores.

Revolving Accounts - Credit Cards / Store Cards (Ideal 3-5 accounts): This category
of account has a great deal of variance among the type of credit cards and store
credit obtained. Major credit cards are more valuable to your credit than department
store cards. You should shoot to have no more than about 3-5 of these type of
accounts. The lower-end credit accounts such as mail-order catalogs are not looked
at favorably by lenders. As with any low-end credit accounts, the more high-end
accounts you have the less they hurt you.

With all the above, the more seasoned the accounts are the more weight they carry to
affect your credit score. And when it comes to credit cards and store credit, you
want to be sure that you keep your revolving balances below 50% of the available
limit to maximize your credit. Be sure to keep in mind that once you cancel a good
account, it will only remain on your credit for two years. If you cancel a seasoned
account and it falls off your credit, your scores will most likely drop.

Follow this blue print to create the perfect credit profile.

NCA Credit Repair has over 10 years experience in the credit and debt industry and
is one of the most trusted and respected Credit Report Repair companies in the
nation. Get more information about credit repair and debt settlement.

NCA Credit Repair
http://www.ncacreditrepair.com
1.888.282.1011

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Web Site: http://www.ncacreditrepair.com

Contact Details: NCA Credit Repair
http://www.ncacreditrepair.com
1.888.282.1011