https://ficoforums.myfico.com/t5/General-Credit-Topics/Are-multiple-accts-with-zero-balances-a-negative/m-p/915636#M151327 <BLOCKQUOTE><HR />@Anonymous wrote:<BR /><P>Or is it only accounts with a balance.&nbsp; I'm referring specifically to student loan accounts.&nbsp; I have about 9 sallie mae "accounts" with a balance, as each student loan I took out from them shows up as a separate account (on their website and on my credit report).&nbsp; One of the negatives on my report was having too many accounts with balances.&nbsp; If I get a bank to buy these loans (they have high interest rates and with my improved credit score, I could get a better rate), will that improve my score, due to&nbsp;effectively eliminating 8 accounts with balances?&nbsp; Thanks!</P><HR /></BLOCKQUOTE><P><BR />Both. A scenario with no $0 balances or a scenario with all $0 balances are both not that good per FICO scoring (though $0 reporting with no debt isn't a bad thing either). FICO tends to prefer more than half of your TLs reporting $0. It's certainly a YMMV thing though. I get that annoying red flag on my report if I hit more than half with a balance (and the negative on pg 3).</P><P>&nbsp;</P><P>I bet if you consolidated with 1 new TL for your 9 accounts, you might see an initial loss with the new TL added, but a year or so out, you'd see an overall gain. Just a guess though.</P> Mon, 09 May 2011 18:31:00 GMT llecs 2011-05-09T18:31:00Z https://ficoforums.myfico.com/t5/General-Credit-Topics/Are-multiple-accts-with-zero-balances-a-negative/m-p/915336#M151310 <P>Or is it only accounts with a balance.&nbsp; I'm referring specifically to student loan accounts.&nbsp; I have about 9 sallie mae "accounts" with a balance, as each student loan I took out from them shows up as a separate account (on their website and on my credit report).&nbsp; One of the negatives on my report was having too many accounts with balances.&nbsp; If I get a bank to buy these loans (they have high interest rates and with my improved credit score, I could get a better rate), will that improve my score, due to&nbsp;effectively eliminating 8 accounts with balances?&nbsp; Thanks!</P> Mon, 09 May 2011 13:24:38 GMT https://ficoforums.myfico.com/t5/General-Credit-Topics/Are-multiple-accts-with-zero-balances-a-negative/m-p/915336#M151310 Anonymous 2011-05-09T13:24:38Z https://ficoforums.myfico.com/t5/General-Credit-Topics/Are-multiple-accts-with-zero-balances-a-negative/m-p/915570#M151324 <P>Anyone have any idea?&nbsp; Thanks!</P> Mon, 09 May 2011 17:28:45 GMT https://ficoforums.myfico.com/t5/General-Credit-Topics/Are-multiple-accts-with-zero-balances-a-negative/m-p/915570#M151324 Anonymous 2011-05-09T17:28:45Z https://ficoforums.myfico.com/t5/General-Credit-Topics/Are-multiple-accts-with-zero-balances-a-negative/m-p/915636#M151327 <BLOCKQUOTE><HR />@Anonymous wrote:<BR /><P>Or is it only accounts with a balance.&nbsp; I'm referring specifically to student loan accounts.&nbsp; I have about 9 sallie mae "accounts" with a balance, as each student loan I took out from them shows up as a separate account (on their website and on my credit report).&nbsp; One of the negatives on my report was having too many accounts with balances.&nbsp; If I get a bank to buy these loans (they have high interest rates and with my improved credit score, I could get a better rate), will that improve my score, due to&nbsp;effectively eliminating 8 accounts with balances?&nbsp; Thanks!</P><HR /></BLOCKQUOTE><P><BR />Both. A scenario with no $0 balances or a scenario with all $0 balances are both not that good per FICO scoring (though $0 reporting with no debt isn't a bad thing either). FICO tends to prefer more than half of your TLs reporting $0. It's certainly a YMMV thing though. I get that annoying red flag on my report if I hit more than half with a balance (and the negative on pg 3).</P><P>&nbsp;</P><P>I bet if you consolidated with 1 new TL for your 9 accounts, you might see an initial loss with the new TL added, but a year or so out, you'd see an overall gain. Just a guess though.</P> Mon, 09 May 2011 18:31:00 GMT https://ficoforums.myfico.com/t5/General-Credit-Topics/Are-multiple-accts-with-zero-balances-a-negative/m-p/915636#M151327 llecs 2011-05-09T18:31:00Z