Credit Karma Says More is Better??

[BikerMama]

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@Bsong wrote:

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@BikerMama wrote:

So Credit Karma gave me a D for Total Accounts on my "Report Card". It indicates that the more accounts you have, the higher your grade is. I realize credit karma is just a gauge and the score is a FAKO but can anyone shed some light on this? I only have 9 accounts, 3 of which are closed/paid off.  Should I start applying for more? It's been over a year since I applied for my last CC.

Thanks in advance!

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@BikerMama... It seems like you've already been doing all the right things at a score of 790. I think you should tell creditkarma how many cards you need to obtain a good score. Anyone with 750+ credit scores, (in my opinion) shouldnt have to worry about what credit score sites or guidelines have to say since your already on the track to perfect credit. Just sayin... 

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@Bsong Thank you. I am so used to monitoring these different sites, that's how I got my 790! (Well that and A LOT of discipline) I'm just overprotective of my score I guess.

[djc1puno]

if i pay my bills on time for the next 2 years my points will drop by 1 point hhmmmm

[BikerMama]

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@djc1puno wrote:

if i pay my bills on time for the next 2 years my points will drop by 1 point hhmmmm

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Yea, it tells me that if I pay my bills on time for the next several months, my score will drop 15 points. Uhh, sure

[Matt6995]

I am no fan of CK but as mentioned a thousand times they are a solid guide just not good to rely on for major credit decisions. That said, the metric is "TOTAL ACCOUNTS" not "CREDIT CARDS". I have a "C" rating with 12 total accounts including all open/closed/auto/mortgage/credit card etc. MY score changes on almost every update and also changes using the score simulator. The trick in my opinion is to not put a lot of weight in what it says.

[BikerMama]

OK, thanks for all of the info!

[Themanwhocan]

Its almost as if Credit Karma makes money off of convincing people to apply for more and more credit cards.

But naaah! that can't be true. I'm sure they're just altruistic. They pay for all those TV ads, and Internet Server and ISP costs, all on a non profit basis.

I don't know what I was thinking there for a second. Maybe I've been wrong all along. Maybe I really do need more than one Discover IT card...

[09Lexie]

The only thing I use it for are inq's.