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Credit Karma says, you should have atleast 22 credit accounts

Valued Contributor

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

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9 REPLIES
Established Contributor

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

I got that covered I have 24.

Regular Contributor

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

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

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

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

I have 16 and im only 20 lol
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Valued Contributor

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...

 

Smiley Indifferent

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Senior Contributor

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

but are they saying all 22 to be open?

Regular Contributor

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+.

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

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

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.

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Senior Contributor

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.


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Moderator Emeritus

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.

 

 

 

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