03-23-2013 08:34 AM
Right now I'm an AU on one, had another CC for almost 1 year, and just got a new one. My FICO score is really helped by student loans, 16 of them that I've had for 8 years...
03-23-2013 08:37 AM
The short answer: yes.
More cards in good standing with balances less than 30% of limits is good.
Next in line: diversity of account types and time.
03-23-2013 08:51 AM
To a point, yes. But after that, it really doesn't. Just garden well and you'll be just fine.
03-23-2013 09:04 AM
Beyond three cards, adding more only helps if you're getting unused limits that help utilization.
03-23-2013 09:08 AM
There is really no set limit to what is good or not. The more open cards with balances certainly is not going to help you much. FICO likes to see you use your credit but wisely. If you have one card and use it wisely and let it age, it is going to help your score.
The only thing more can do is raise your CL and lower utilization.
03-23-2013 09:46 AM - edited 03-23-2013 09:48 AM
03-23-2013 10:20 AM
03-23-2013 10:29 AM
The short answer: yes.
More cards in good standing with balances less than 30% of limits is good. Not true, you can have 2 cards and keeping your UTIL between 1-9%. It's how you manage and using your cards wisely each month.
Next in line: diversity of account types and time. Your AAoA and payment history are the biggest factors in what Fico sees in determining what your score could be. Installment loans have little affect on Fico scoring.
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