Too many accounts?

[scoreupper]

What is the right number for each line so they dont hurt yout fico...accounts with balances is 10 and you get a flag...other thoughts?

Accounts [?] 46

Accounts with balances [?] 9

Accounts opened in past year [?] 10

Recent inquiries [?] 4

Collections [?] 0

Public Records [?] 2

Message Edited by scoreupper on 12-25-2007 09:07 PM

[Anonymous]

My Rule is less than half of open accounts including mortgage and other loans.

FICO gets upset when more than 3 of my 10 cards report a balance.

[smallfry]

I'm one to talk but I would slow down on the new accounts. 10 in the past year? You should be good for a couple of years now. I know that I am done. Maybe a new card every few years or so maybe. I have found the cards all work and spend basically the same don't you? Rewards? 3K on 100K spent? Unless you have biz expenses you need to reel in the spending unless you are Donald Trump.

[scoreupper]

small thank you for your thoughts on how many accounts I have opened and that 10 is too many. It does truly depend on your business. I have opened two new mortgages in the last year, one equipment loan and a few Credit cards. Also you made a comment that my spending is out of control...how you figure that?

The question I am asking is how many is considered too many and NEG impact your FICO score line by line. I know from what I have seen posted by Bramy and a few others that 45 seems like a large number of account in a file, but they also got a flag at 30,,,so does it depend on length of history/accounts or just number of open items to get a flag......

Message Edited by scoreupper on 12-26-2007 11:50 AM

[smallfry]

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@scoreupper wrote:

small thank you for your thoughts on how many accounts I have opened and that 10 is too many. It does truly depend on your business. I have opened two new mortgages in the last year, one equipment loan and a few Credit cards. Also you made a comment that my spending is out of control...how you figure that?

The question I am asking is how many is considered too many and NEG impact your FICO score line by line. I know from what I have seen posted by Bramy and a few others that 45 seems like a large number of account in a file, but they also got a flag at 30,,,so does it depend on length of history/accounts or just number of open items to get a flag......

Message Edited by scoreupper on 12-26-2007 11:50 AM

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My comment wasn't directed toward you just a general statement.