Too many accounts

[cantretire]

Hi.  One of the things that my report states is hurting my score (not badly though) is too many accounts.  Trans reads 13 and Equifax reads 15.  Thre of these accounts were closed  in 2004, 2006 and 2008, but are still listed.   There are 3 tiny cards that I never use that I'm considering closing.  They total about $600 in credit out of a total credit of about $35,000.  Should I bother?  I might think it was worth it in 10 years to have them drop off.

2/10/12:

TransUnion - 759

Equifax - 751

[MarineVietVet]

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@cantretire wrote:

Hi.  One of the things that my report states is hurting my score (not badly though) is too many accounts.  Trans reads 13 and Equifax reads 15.  Thre of these accounts were closed  in 2004, 2006 and 2008, but are still listed.   There are 3 tiny cards that I never use that I'm considering closing.  They total about $600 in credit out of a total credit of about $35,000.  Should I bother?  I might think it was worth it in 10 years to have them drop off.

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That's interesting. I have 36 accounts on my TU report and 26 on my EQ but have never been told that is too many. Does it perhaps say that you have "too many accounts with balances"?

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[laz98]

+1.  I have about 35 accounts on each credit report, & I don't have that ding either.  Just "too many accounts with balances".

[cantretire]

Nope.  Just 'too many accounts'.  Only one had a small balance on it.  1% of my total credit.

[Anonymous]

They always list something. My recent credit pull said this. 

030 - TIME SINCE MOST RECENT ACCOUNT OPENING IS TOO SHORT (6 months)
005 - TOO MANY ACCOUNTS WITH BALANCES (3 of 7)
012 - LENGTH OF TIME REVOLVING ACCOUNTS HAVE BEEN ESTABLISHED (AAOA 5 years not sure how they got this one)
003 - PROPORTION OF LOAN BALANCES TO LOAN AMOUNTS IS TOO HIGH (no clue)
FA - INQUIRIES IMPACTED THE CREDIT SCORE (5 total)

You can have a perfect score and something would show like the listed above, and has little if any impact on your score. CRA = glass half empty.

TBC

[cantretire]

Well, I guess there's nothing to worry about after all.  Thank you everyone!