How Many Accounts Should I Let Report a Balance?

[smallfry]

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@haulingthescoreup wrote:

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@smallfry wrote:
I think the OP should let every tradeline he has report a balance of 9% and see what FICO says. He could bring it down by 1 TL every month until he reaches his magic number. Tell you what I have noticed on my reports. Once my total of all accounts reaches 30 I get the red flag. Anyone else notice this? I have now seen it on my Experian and Equifax reports. Since my TU only shows 28 total accounts I have not seen it there.

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smallfry, I am alarmed to find that there is still a red flag out there that I have not yet acquired. Are you on the Credit-at-a-Glance screen/ page? These "accounts reaching thirty" --are you talking about 30 accounts total (open and closed), 30 accounts open, or 30 accounts showing balances?

I am determined not to get any more red flags. I don't want my report looking like a putt-putt course. thanks

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No that is total of all accounts both opened and closed which are still on my reports. By this time next year 4 accounts will fall off of all my reports.

[smallfry]

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@Anonymous wrote:
The one I just looked at had 32 total accounts of which about half of them were closed. This profile was also flagged for too many accounts. I recommended for this person to remove newer "closed" revolving items from the CRA's and not to close any open accounts. This will increase average age with out closing any open trade lines. So for this profile it was a total number of accounts not open number. Just misc info.

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I have a feeling that this 30 account flag is hurting my score very little actually.

[smallfry]

Thanks fused. As you said no two reports are exactly alike and like all things credit YMMV.

[haulingthescoreup]

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@smallfry wrote:
No that is total of all accounts both opened and closed which are still on my reports. By this time next year 4 accounts will fall off of all my reports.

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Thanks! I was actually rather impressed that someone might have 30 accounts with balances reporting. My 4 are all I want to handle.

[fused]

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@haulingthescoreup wrote:

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@smallfry wrote:
No that is total of all accounts both opened and closed which are still on my reports. By this time next year 4 accounts will fall off of all my reports.

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Thanks! I was actually rather impressed that someone might have 30 accounts with balances reporting. My 4 are all I want to handle.

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I believe Tusc has a whole bunch of accounts with balances. I do know he has more than 50 accounts on his CRs, I'm just not sure if all or most of them have balances. His scores are quite high by the way!

[haulingthescoreup]

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@fused wrote:

I believe Tusc has a whole bunch of accounts with balances. I do know he has more than 50 accounts on his CRs, I'm just not sure if all or most of them have balances. His scores are quite high by the way!

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I could never hope to measure up to Tuscani; I know myself too well. I would have to hire a personal credit-minder. This is why he's a moderator, I think!

[fused]

HA!

[Anonymous]

hehe