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fused wrote:
As far as I know, you do not lose points for having too many accounts...but having too many accounts WITH balances can cost you points.
Like I said, as far as I know...that's all I can say lol I might be wrong. Most people with scores below 800 will get some red flag or a negative comment on the scale page, but I have never heard or seen a person with 800+ scores who has over 30 accounts have red flags or negative comments on the scale page.
cheddar wrote:
fused wrote:
As far as I know, you do not lose points for having too many accounts...but having too many accounts WITH balances can cost you points.
Fused,I'm not sure about that. Having too many total accounts can give you a red flag, which is defined in the legend as "Marks an aspect of your credit that is hurting your FICO® score."If we don't lose points for it, why do we get the "hurting your score" flag?
Message Edited by cheddar on 03-08-2008 01:11 PM
fused wrote:Like I said, as far as I know...that's all I can say lol I might be wrong. Most people with scores below 800 will get some red flag or a negative comment on the scale page, but I have never heard or seen a person with 800+ scores who has over 30 accounts have red flags or negative comments on the scale page.
I looked through some of my old credit reports from the last 4 years to see if I ever had more than 30 accounts reporting. I didn't.
cheddar wrote:fused wrote:Like I said, as far as I know...that's all I can say lol I might be wrong. Most people with scores below 800 will get some red flag or a negative comment on the scale page, but I have never heard or seen a person with 800+ scores who has over 30 accounts have red flags or negative comments on the scale page.Hmmm...verrrry interesting!