As a hangover from the precious post, I’ve decided to add a few more tips, if you may, on debt reduction and preparations for retirement. This is of course from the perspective of a rehabber.

I remember reading another article about debt reduction and far as I can recall, here are some thoughts you might ponder on, whether you are into rehabbing or not.

I remember the article a few common things about people who had credit scores of over 800. According to that report, people who have very good credit have four to six credit card accounts. But here’s the catch: they do not have a single late payment over the past seven years. It’s like keeping a perfect attendance in school – difficult but achievable.

They also have at least one installment loan with excellent payment history. The loan could either be a mortgage or a car loan. A rehabber can get these loans although it’s better to get a house or a car all cash, right? But seriously, it is possible in real estate investing.

And of course, there should be no records of bankruptcies or foreclosures in your credit history. But again, if it isn’t merely redundancy, let me say again that you don’t have to go through all this if you won’t need debt, right? There’s nothing with having a perfect credit score but then again, it’s better if you are able to acquire your needs and wants by working hard in a field that pays a lot. Case in point? Rehabbing and real estate investing.

How do you keep your credit score healthy? Share your thoughts on our forums. Log in now or register below with your email.