Would one of the FICO gurus out there please explain to me why old/zero balance/closed students loans are still considered in the total number of "accounts"? I have a fairly high score (799 TU) but I find this frustrating. I have lots of loans because, in the10 years of higher education I pursued, I took out a lot of loans and those loans and sold/bought by other companies, ergo, the large number of "accounts". According to FICO, this is the only thing hurting my score.
Thanks in advance!!
All accounts, opened or closed, are factored into the total number of accounts. Likewise, all OC accounts, opened or closed, still factor into your length of history and average age of accounts. As your score increases, so does the knick-pickyness of FICO scoring. That comment is minor. In the eyes of lenders, having lots of accounts can seem risky. However, if you were to ask your lenders to delete these accounts, your history would drop as would your avg. age., and this would cause your score to drop. In other words, these accounts help more than hurt.