The Credit Conversation Continued - How many trade lines are needed?

Real Estate Agent with Keller Williams East Valley-LuxRE Group SA514778000

The Credit Conversation Continued - How many trade lines are needed?

I have previously shared with you, from my personal experience, how to increase your credit score in 90 days or less using the "10%" rule when using our credit cards. Once you have accomplished that, its time to take the next step and ensure you have enough "trade lines" to have enough "credit" to begin the Home Mortgage Process.  Again, in my experience (nearly 20 years as the Real Estate Guy® in AZ) with the handful of lenders I have partnered with, all ideally want to see 3 solid trade lines of credit, with at least a 12 month history. These trade lines can include traditional Credit Cards, Auto Loans, Department Store Cards and on rare occasions the lenders will take "alternative" credit (but that's another blog topic on its own). For now, you have built up your scores, now make sure you a total of 3 trade lines of credit history, 12 months or more is ideal and remember, NEVER, EVER close a credit card account, you wipe away all your payment and credit history when doing so!

Any questions, remember, there are no stupid questions with me, reach out today: 602-321-6188





This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Real Estate General Information
Arizona Maricopa County Phoenix
AirParks and Fly-In Communities
buying a home
home buying process
mortgage loans
auto loans
building credit
credit counseling
credit restoration
az realtor
credit card balance
loan requirements
chris dunham
the real estate guy
active trade lines

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Michele Cadogan-Cell 917-861-9166
Fillmore Real Estate 2926 Ave J Brooklyn NY 11210 - Brooklyn, NY
Licensed Real Estate Associate Broker -

Good Post to share regarding Trade Lines, especially as we head into the New Year and many renters begin to do their research / prep work, getting ready to  buy their first home.  

Dec 14, 2017 02:41 PM #1
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?


Chris Dunham

"The Real Estate Guy!"®
Ask me a question
Spam prevention