05-15-2008 04:13 PM
RobertEG wrote:I am kind curious as to where you received the opinion that 29 CCs is ideal. I have never seen that anywhere. To the contrary, FairIsaac risk analysis has stated publicly that 2-3 cards is ideal, and risk rises above that (FairIsaac presentation before the FTC). FICO scoring is based on their risk analysis.Aside from the known risk anaylsis, I could not imagine the FICO task of managing 29 open CCs, maintaing the balance on each below 10%, and also trying to keep at least half with no balance. Why not just get a BT to an existing CC, and thus not incur a new hard inq in obtaining a new TL?I guess I just dont undestand the FICO strategy in this......
05-15-2008 04:18 PM
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.