I am confused as to why the number of credit accounts I have listed (32) is hurting my score. I have had credit for over 30 years so naturally along the way I have opened and subsequently closed (years ago) many accounts that I no longer use and currently only have 4 accounts opened. The closed accounts are listed as closed in the discription, yet they are being factored into my score as a negative factor as "too many accounts". Does anyone know how to get this corrected or when will these fall off? Thanks!
Can you tell us:
1. The age of your oldest reported account (open or closed)?
2. Your AAoA?
3. Your total CL's (revolving)?
4. Your total revolving balances?
5. Any derogs? (lates, collections, liens, judgements, bk, etc)
6. Age of newest account?
7. Number of inquiries in past 12 months?
Have you tried running the FICO Estimator? You can plug various scenarios and see a score range prediction. It works fairly well. There is a link in my sig line.
thanks, I haven't tried the estimator yet, which I will do next
1. The age of your oldest reported account (open or closed)? = 28 y, 8 mo
2. Your AAoA? = 8 yrs
3. Your total CL's (revolving)? 60,000 (includes Heloc which is closed)
4. Your total revolving balances? 10,037 includes Heloc
5. Any derogs? (lates, collections, liens, judgements, bk, etc) - 1 account reported in 2003
6. Age of newest account? 2006
7. Number of inquiries in past 12 months? 2
Even tho I'm not in that group yet, I recall reading about this. They feel like they have to put something on the red side of the scale, so the only neg they can possibly think of is "too many accts"