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Established Contributor
rifleman
Posts: 565
Registered: ‎06-11-2007

Re: Too many accounts with balances. New discussion.

right,
installments do not count towards utilization, but they do count as accounts with balances, and if you have too many, it hurts your score--I'm positive of this now
my ex and eq profiles are virtually identical--except for ex shows 6 accounts with balances and eq shows 4 accounts with balances.

6 accounts with balances on ex = 704
4 accounts with balances on eq = 726

I'm telling you, it means something. Keep 4 or less and your score goes up.
Moderator Emeritus
fused
Posts: 16,253
Registered: ‎03-12-2007

Re: Too many accounts with balances. New discussion.



rifleman wrote:
right,
installments do not count towards utilization, but they do count as accounts with balances, and if you have too many, it hurts your score--I'm positive of this now
my ex and eq profiles are virtually identical--except for ex shows 6 accounts with balances and eq shows 4 accounts with balances.

6 accounts with balances on ex = 704
4 accounts with balances on eq = 726

I'm telling you, it means something. Keep 4 or less and your score goes up.

Installment util% calculations do exist but they carry less weight than revolving utl% calculations. Your difference in scores might simply be the difference between the three scoring models. FICO EQ, EX and TU while all FICO are still different scoring models. Also, you, pizza and I all might be swimming in different "pools, scorecards or buckets."
Credit Cards:
Amex BCP 25K ~ Amex Clear 25K ~ Amex Platinum NPSL ~ Chase Freedom Visa 19.3K ~ CITI Dividend World Mastercard 20.3K ~ FIA Fidelity Investments Platinum Plus Visa 40K ~ First Hawaiian Bank Gold Visa 10K
Established Contributor
rifleman
Posts: 565
Registered: ‎06-11-2007

Re: Too many accounts with balances. New discussion.

"SWIMMING IN DIFFERENT POOLS, SCORECARDS BUCKETS"

I don't really understand this. Is it you are put into pools with people with similar credit profiles? when do you jump out of one pond and into another?

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