Total Credit accounts?

DawgZ · ‎02-07-2014

Hi,

I saw this on Creditkarma.com and wonder if this really was true. I have a 'C' rating because I don't have enuf credit accounts.

A = 22+ accounts

B = 16-21 accounts

C = 11-15 accounts

D = 6-10 accounts

F = 1-5 accounts

Does this mean I can not get an 800 credit score unless I have 22+ accounts? This seems a bit counter-productive to the idea of gardening 5 or 6 accounts to have high limits.

My Wallet - Cap1 Visa Signature $13k, Chase Saphire Prefered $13.5k, Well's Fargo Rewards $10k, Cap1 Quicksilver MC $6.5k, Cap1 Quicksilver V $4k, Chase Freedom $9k, Discover IT $7.5k, Amex BCE $34k, Amazon/Chase $2.5k,PenFed V $10.5k, Amex Green

EQ 810(Fico), EX 806 (Fico), TU 815 (Fico)

gdale6 · ‎02-07-2014

NO, FICO has nothing to do with the number of cards once you get 3 bankcards it doesnt matter how many more you have in the long run. It would do you good to disregard any advise CK gives you, it is a FAKO model and is not used in the real credit world.

meehan22 · ‎02-07-2014

I have always wondered the same. If there is such of a thing as having 'to many'. If that holds true than I am SOL because I really dont want more than 5 i'd say.

Wallet: Chase $6,000 - Discover $1,500 - Walmart $2,200 - Voyage FCU $1,300 - Zales $2,300 - Elan Fin: $12,500(AU, reporting) - Chase $8,500 (AU, reporting) 1% UTL