topic Re: How many accounts do you have? in Credit Cards

How many accounts do you have?

Red1Blue — Sat, 08 Mar 2008 16:29:39 GMT

How many accounts do you have on your CR's? Mine it shows as 50 accounts both Open/Closed.

Re: How many accounts do you have?

Anonymous — Sat, 08 Mar 2008 16:33:17 GMT

I have 12 on two, and 13 on one.

DF has something like 40+, most of them closed (consolidated) student loans.

Re: How many accounts do you have?

Anonymous — Sat, 08 Mar 2008 16:33:37 GMT

30 including the 8 baddies.

Re: How many accounts do you have?

smallfry — Sat, 08 Mar 2008 16:41:31 GMT

Depending on the CRA 28 29 33. 7 open accounts currently. 5 credit cards 1 store card and 1 auto loan.

Re: How many accounts do you have?

Anonymous — Sat, 08 Mar 2008 17:23:23 GMT

TU--26

EQ--26

EX--29

Only 8 accounts are open.

Message Edited by psychic on 03-08-2008 09:23 AM

Re: How many accounts do you have?

rubaty — Sat, 08 Mar 2008 16:46:41 GMT

TU: 32

EQ: 31

EX: 35

Re: How many accounts do you have?

Anonymous — Sat, 08 Mar 2008 17:07:05 GMT

TU Open 27 w/balance 8

EQ Open 24 w/balance 8

EX Open 26 w/balance 8

Re: How many accounts do you have?

Red1Blue — Sat, 08 Mar 2008 17:08:25 GMT

Do any of you see a red flag on your fico reports next to number of accounts? I am curious as to when that flag will appear?

Re: How many accounts do you have?

rubaty — Sat, 08 Mar 2008 17:19:13 GMT

concorduser wrote:
Do any of you see a red flag on your fico reports next to number of accounts? I am curious as to when that flag will appear?

I have the red flag on all of mine. I think that the magic number is 30.

Re: How many accounts do you have?

Anonymous — Sat, 08 Mar 2008 17:22:27 GMT

TU - 38 total (16 open/22 closed)

EX - 39 (15 open/24 closed)

EQ - 25 (16 open/9 closed) **Old SLs fell off

The breakdown -- 11 CC, 1 CC/AU, 1 SL, 1 Auto, 1 MTG (the 16th open TL varies on TU/EQ)

Re: How many accounts do you have?

Anonymous — Sat, 08 Mar 2008 17:26:19 GMT

No red flag next to open accounts, however and I KNOW this is BAD....I have a red flag next to accounts open in the last year (8).

This number is identical to the number of accounts with balances.

Re: How many accounts do you have?

Anonymous — Sat, 08 Mar 2008 17:28:15 GMT

concorduser wrote:
Do any of you see a red flag on your fico reports next to number of accounts? I am curious as to when that flag will appear?

EQ doesn't have a flag - under 30

TU/EX have flags - over 30

Re: How many accounts do you have?

Anonymous — Sat, 08 Mar 2008 17:32:34 GMT

EQ: 13
EX: 23
TU: 18

Re: How many accounts do you have?

Anonymous — Sat, 08 Mar 2008 17:47:45 GMT

rubaty wrote:

I have the red flag on all of mine. I think that the magic number is 30.

Agreed. The red flag is for 30+ total accounts.

I have the red flag next to 8 new accounts opened in the last year. This one seems to be bucket-specific, and as my accounts age, I'm going to try to figure out the cutoff for my bucket on new accounts.

Message Edited by cheddar on 03-08-2008 12:47 PM

Re: How many accounts do you have?

rubaty — Sat, 08 Mar 2008 17:58:23 GMT

cheddar wrote:

rubaty wrote:

I have the red flag on all of mine. I think that the magic number is 30.

Agreed. The red flag is for 30+ total accounts.

I have the red flag next to 8 new accounts opened in the last year. This one seems to be bucket-specific, and as my accounts age, I'm going to try to figure out the cutoff for my bucket on new accounts.

Message Edited by cheddar on 03-08-2008 12:47 PM

I think that 8 is the magic number for new accounts. I was looking over my past reports and from 8 on up they have given me the red flag. It also looks like 10 is the red flag number for accounts with balances.

edit: I think that it is unfail that the accounts with balances number includes everything with a balance instead of just CC's!

Message Edited by rubaty on 03-08-2008 06:58 PM

Re: How many accounts do you have?

Anonymous — Sat, 08 Mar 2008 17:58:14 GMT

rubaty wrote:

I think that 8 is the magic number for new accounts. I was looking over my past reports and from 8 on up they have given me the red flag. It also looks like 10 is the red flag number for accounts with balances.

Not always. Both of these metrics are bucket-specific.

I had a red flag when I only had 6 new accounts. I'm up to 8 now, but once it gets down to 5 I'll be interested to see whether the flag is still there.

As far as accounts with balances, the magic number is usually one less than half the number of your total accounts.

Re: How many accounts do you have?

Red1Blue — Sat, 08 Mar 2008 17:58:15 GMT

rubaty wrote:

cheddar wrote:

rubaty wrote:

I have the red flag on all of mine. I think that the magic number is 30.

Agreed. The red flag is for 30+ total accounts.

I have the red flag next to 8 new accounts opened in the last year. This one seems to be bucket-specific, and as my accounts age, I'm going to try to figure out the cutoff for my bucket on new accounts.

Message Edited by cheddar on 03-08-2008 12:47 PM
I think that 8 is the magic number for new accounts. I was looking over my past reports and from 8 on up they have given me the red flag. It also looks like 10 is the red flag number for accounts with balances.

Does this flag go away after the new account reaches one year of age? There must be a factor which determines the age of account as new vs old account. Is it 12 months?

Re: How many accounts do you have?

fused — Sat, 08 Mar 2008 18:05:55 GMT

EQ: 14 accounts: 10 open/4 closed

EX: 13 accounts: 10 open/3 closed

TU: 15 accounts: 10 open/5 closed

Re: How many accounts do you have?

Anonymous — Sat, 08 Mar 2008 18:07:21 GMT

Both open and closed:

EQ-12
TU-13
EX-13

Re: How many accounts do you have?

rubaty — Sat, 08 Mar 2008 18:08:19 GMT

cheddar wrote:

rubaty wrote:

I think that 8 is the magic number for new accounts. I was looking over my past reports and from 8 on up they have given me the red flag. It also looks like 10 is the red flag number for accounts with balances.

Not always. Both of these metrics are bucket-specific.

I had a red flag when I only had 6 new accounts. I'm up to 8 now, but once it gets down to 5 I'll be interested to see whether the flag is still there.

As far as accounts with balances, the magic number is usually one less than half the number of your total accounts.

I'm curious about the new accounts as my oldest is 7 months old so I will keep an eye on that.

As for the accounts with balances, I have over 30 accounts reporting with every CRA and didn't get the flag until I reached 10.