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Does anyone know what the ideal number of store / retail lines a person should have for an optimal insurance score?
Also, do closed retail cards that are still aging count as well in that score?
Uhg they are nasty about it then. I cant get my insurance score from credit karma because for some reason they cant seem to get it, but would be interesting to know.
@Anonymous wrote:Uhg they are nasty about it then. I cant get my insurance score from credit karma because for some reason they cant seem to get it, but would be interesting to know.
You can't get scores from CK in general? Or just the TU CBIS from CK?
What happens if you go directly to: https://www.creditkarma.com/auto/hub/hub-summary/insurance ?
Oh hey that got it! Thank you!
It looks to be going up, but I have no idea what a 853 really means LOL.
@Anonymous wrote:Oh hey that got it! Thank you!
It looks to be going up, but I have no idea what a 853 really means LOL.
For TU CBIS, 853 is a middle-of-the-road score - not terrible, but also not terrific.
Above 900 is great, and you really don't want to drop below about 825.
Wow for a while I was at around 800. Would closing some of my store cards help or would they count until they drop completely off?
@Anonymous wrote:Wow for a while I was at around 800. Would closing some of my store cards help or would they count until they drop completely off?
It depends!
We don't have as good data on the TU CBIS, but looking at the well-known LexisNexis Attract scores...
"Department Stores" count until completely removed from the report - and the older the card, the WORSE the effect. Even one account is "bad".
"Retail Accounts" stop counting installment loans once the balance goes to zero, and revolvers if they have not REPORTED in 12 months. 4 accounts are worse than 0-3.
"Sales Finance Accounts" count until completely removed, but are worse the higher the balance and/or number of accounts. Even one inactive/closed installment is "bad".
(LN also wants to see 11 or fewer TOTAL accounts, with breakpoints at 12-13, 14-17, 18-20, 21, 22-26, 27-32, 33-41, and 42+.)
Jeez thats insane. I can see why there are sites out there wanting to stop this. Pretty much everyone will get dinged!
Based on that criteria, I dont think there is really any way I will get much better lol.