Building an optimum credit profile is important for short and long term credit profile and scoring strength. It is crucial to build and manage a strong credit report profile so credit related transactions are completed easier and with maximum savings. Our Credit Maximization formula includes the element “BUILD” because we want our clients to increase their chances of improving their credit scores, but we also factor in how lender and creditor software systems read data during an application process.
By building an active-balanced-positive credit report profile, automated underwriting systems are able to reference certain types of accounts which can help improve your chances for approvals. When we speak of building a proper credit profile it’s geared toward establishing credit history.
One example of an optimum credit profile is:
- Mortgage Account (active)
- Auto Loan / Lease (active)
- 3 Unsecured Credit Cards (active)
- 1 Retail Credit Card (active)
When building or rebuilding a credit profile consumers must take one step at a time. Strategically timing your applications is important, and of course preparing your credit for transactions is equally important. Advice for credit profile building is included in the Credit World credit maximization advisory platform. We help our users learn the credit system and navigate through their credit world more efficiently.
We hope users of the Credit World platform take a more long term approach with their credit as the credit scoring system is designed to reward long lasting (seasoned) active positive accounts. Take the time to enroll with Credit World so you and your credit can reach its full potential.