Number of Revolving Accounts & TU

[Anonymous]

I just ran this scenario simulator on my Chase ID Protection. It indicates that opening another credit card will increase my TU score 0-30 points and lower my EQ/EX score 0-30 points. It also says in the TU analysis that I don't have enough experience with revolving accounts and should open another one (I wonder how many they feel is optimal).  I currently am showing 6 open accounts, though one will be closed in a few days, once it reports.

Message Edited by siangirl34 on 08-15-2008 05:03 PM

[haulingthescoreup]

This is FAKO advice. I recognize that bit about not enough experience with revolving accounts --I get that in my TrueCredit advice column.

Meanwhile, TU FICO lists as my positives:

1. You've limited the use of your available credit.
2. You've shown recent use of credit cards.
3. You have an established revolving credit history. Your first revolving account was opened 19 Years, 2 Months ago.

Okey-dokey, I know who I'm going with!

6 open revolving accounts, immaculately fertilized and maintained, are plenty for scoring purposes.

Message Edited by haulingthescoreup on 08-15-2008 05:07 PM