MyFICO SW says this is hurting the score.
To muddle things further: the TransUnion report may give the negative factor "too many credit accounts with balances."
This has always been a common misunderstanding, not just among consumers but also among lenders, mortgage brokers, etc. -- equating number of accounts on file with the number of "open" accounts on file. To be clear, while the FICO scoring formula considers the number of accounts on file and the mix of different types of accounts, it does not specifically look at the number of open vs. closed accounts.
In fact, FICO scores and the myFICO site have never actually had any negative factors or explanations that refer to "open" accounts as having a negative effect, but people seem have taken "number of accounts" to automatically mean "number of open accounts".
Is this possibly an example of what happens when scores start getting higher, and ScoreWatch really has to scramble to come up with some sort of negative comment? I