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Valued Contributor
vish1
Posts: 1,129
Registered: ‎01-20-2011
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Credit Karma says, you should have atleast 22 credit accounts

Just looked up at my transrisk score on creditkarma and it says I score D in the category of "Open accounts" and the best is to have 21+ accounts....

 

Never heard of this

Amex PRG | BoA Cash rewards 35K | BoA Cash rewards 7K | Citi AAdvantage 15 K | Chase Sapphire Preferred 11 K | Chase Freedom 10k | Chase United 5 K | Chase Southwest 5K | Chase Airtran 6.4K | Discover IT 8K | Barclays US Airways 7.8 K | DCU 3 K | US Bank Flex Perks 8K | Toys r US 6 K | JC Penney 4.6 K | Macy's 1200 | Kohl's 600
Ex Fico: 762 (PSECU)
EQ Fico: 764 (DCU)
TX Fico: 773 (Discover)
Established Contributor
mross1080
Posts: 527
Registered: ‎04-21-2010
0

Re: Credit Karma says, you should have atleast 22 credit accounts

I got that covered I have 24.

Regular Contributor
JasonBourneOfCredit
Posts: 218
Registered: ‎02-27-2010
0

Re: Credit Karma says, you should have atleast 22 credit accounts

I saw that too.  Maybe over a lifetime. Thats insane.

Hey goofballs, Jason Bourne is from the Bourne movies. Yeah that guy. Of credit. Get it?

Starting Score: 561
Current Score: 734 FICO
Goal Score: 740

Decode the algorithm, beat the system. Credit is a game.


Decode the algorithm, beat the system. Credit is a game.
Frequent Contributor
tsquad131
Posts: 474
Registered: ‎09-12-2010
0

Re: Credit Karma says, you should have atleast 22 credit accounts

I have 16 and im only 20 lol
FICO scores - 727 TU(Walmart)/ 727 EX(Amex app)/ 721 EQ(Discover app)
In My Wallet: BankAmericard Cash Rewards($2,000), Discover More($3,000), Chase Freedom($2,000), Fidelity Amex($1,000), Sam's Club Discover($4,400), SallieMae 5% Mastercard($5,000), Amex BCE($2,000) ,Citi Simplicity($2,000), Paypal SmartConnect($3,100), Walmart Store Card($2,350), Chase Amazon Visa($700), Target RedCard($500), Capital One Cash Rewards($750), Best Buy Store Card($1,900), HHGregg($2,000), Amazon Store Card($1,250),Newegg Preferred Account($2,000), Park West($2,000), BankAmericard Travel Rewards($5,000)
Valued Contributor
vish1
Posts: 1,129
Registered: ‎01-20-2011
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Re: Credit Karma says, you should have atleast 22 credit accounts

Should we target like 50? Just to cover up in case credit karma starts thinking 45 were minimum some day...

 

:smileyindifferent:

Amex PRG | BoA Cash rewards 35K | BoA Cash rewards 7K | Citi AAdvantage 15 K | Chase Sapphire Preferred 11 K | Chase Freedom 10k | Chase United 5 K | Chase Southwest 5K | Chase Airtran 6.4K | Discover IT 8K | Barclays US Airways 7.8 K | DCU 3 K | US Bank Flex Perks 8K | Toys r US 6 K | JC Penney 4.6 K | Macy's 1200 | Kohl's 600
Ex Fico: 762 (PSECU)
EQ Fico: 764 (DCU)
TX Fico: 773 (Discover)
Senior Contributor
john398
Posts: 3,521
Registered: ‎01-19-2009
0

Re: Credit Karma says, you should have atleast 22 credit accounts

but are they saying all 22 to be open?

Regular Contributor
JasonBourneOfCredit
Posts: 218
Registered: ‎02-27-2010
0

Re: Credit Karma says, you should have atleast 22 credit accounts

Seriously I have 4 and thats enough juggling for me. Keeping up with when which card is due and when each reports. Cant imagine 20+.

Hey goofballs, Jason Bourne is from the Bourne movies. Yeah that guy. Of credit. Get it?

Starting Score: 561
Current Score: 734 FICO
Goal Score: 740

Decode the algorithm, beat the system. Credit is a game.


Decode the algorithm, beat the system. Credit is a game.
Frequent Contributor
OnTheRebound
Posts: 444
Registered: ‎08-05-2009
0

Re: Credit Karma says, you should have atleast 22 credit accounts

[ Edited ]

They recommend I have 30 21+ accounts to achieve an "A" score. I better get busy. Six down 24 to go.

 

ETA: My mistake. Double checked Kredit Karma. They recommend 21+ accounts for an "A". However, I do recall I read somewhere they like to see 30+ accounts.

Mine- Citi Diamond Preferred WMC $12K / Citi Double Cash WMC $3.8K / Comenity Total Rewards Visa $2.5K / Citi Home Depot $5K / DW's- I'm AU on most- Amex BCP $12K / Chase Freedom Visa $11014.00 / PenFed Platinum Rewards Visa Signature $6K / Citi Simplicity MC $4.4K / GE Lowes $10K / GE CareCredit $5K
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Senior Contributor
Walt_K
Posts: 3,065
Registered: ‎11-02-2009
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Re: Credit Karma says, you should have atleast 22 credit accounts


john398 wrote:

but are they saying all 22 to be open?


No, it's total accounts.  Also, I'm not quite sure they are saying you should have more than 21 accounts as oppose to saying that people with high scores tend to have more than 21 accounts.  But I suppose if they are going to give a grade on it and factor it into your score as a separate element, they must be saying the former.

 

I'm usually not one to harp on FAKOs being worthless.  Maybe one of these other models will bust FICO someday and it will be a two-player market.  Until then, I don't pay much attention.  But I did run a score simulator on CK the other day to see what it said would happen if I paid down all my CC debt.  It said I would lose 28 points.  I thought that was worth a chuckle.


Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720


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Moderator Emeritus
MarineVietVet
Posts: 14,136
Registered: ‎07-14-2009
0

Re: Credit Karma says, you should have atleast 22 credit accounts


vish1 wrote:

Just looked up at my transrisk score on creditkarma and it says I score D in the category of "Open accounts" and the best is to have 21+ accounts....

 

Never heard of this


The advice given on CK (along with any other site that provides FAKO scores) is just as worthless as the scores themselves. Ignore it all and you'll sleep much better.

 

 

 

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".


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