topic Re: Total Credit accounts? in Rebuilding Your Credit

Total Credit accounts?

DawgZ — Fri, 07 Feb 2014 17:55:35 GMT

Hi,

I saw this on Creditkarma.com and wonder if this really was true. I have a 'C' rating because I don't have enuf credit accounts.

A = 22+ accounts

B = 16-21 accounts

C = 11-15 accounts

D = 6-10 accounts

F = 1-5 accounts

Does this mean I can not get an 800 credit score unless I have 22+ accounts? This seems a bit counter-productive to the idea of gardening 5 or 6 accounts to have high limits.

Re: Total Credit accounts?

gdale6 — Fri, 07 Feb 2014 18:53:46 GMT

NO, FICO has nothing to do with the number of cards once you get 3 bankcards it doesnt matter how many more you have in the long run. It would do you good to disregard any advise CK gives you, it is a FAKO model and is not used in the real credit world.

Re: Total Credit accounts?

meehan22 — Fri, 07 Feb 2014 19:16:06 GMT

I have always wondered the same. If there is such of a thing as having 'to many'. If that holds true than I am SOL because I really dont want more than 5 i'd say.