Good question. Direct answer is I don't know a number. However, I've heard the numbers 8-10 or more mentioned. But again I'd be more focused on the util.
jsmith12345 wrote:
I had a recent drop in my score with a charge on my Best Buy card (0% interest on a flat screen)
What's the util on the Best Buy card?
jsmith12345 wrote:
All total I have balances on 8 cards, with 2 I've already paid off. I have no baddies anywhere on my credit and have a long history. So, by next month it'll be 6 cards with balances. Will that help my score back up? I have >50% utilization on 2 cards. I have overall utilization around 30%.
Are the 8 CCs all you have?
Any near term plans to buy or refi a house or car? Any near term plans to get more CCs, particularly are you planning to go after any 0% APR BT offer CCs?
If no-no-no, then I would say don't worry about short term FICO score decreases. Focus on debt elimination. For example, just pay the minimum payment on the 0% APR debt on Best Buy. On your bank CCs, I'd look at the cost of BTing to the lowest APR CC. Debt that don't accrue interest is the cheapest kind of debt.
