Credit Karma - Total Accounts

[Anonymous]

I've been using Credit Karma for awhile now, mostly to gage if there are updates posted to my report since I know the score is a FAKO. I just discovered their Credit Report Card tool which gives me a grade in various areas like Util, AAoA, etc. I got a D in total number of accounts reported, and they show the grade scale as A=41+, B=31-40, C=21-30, D=11-20 and F=0-10. Does this really come into play when calculating my Fico score? I've been in the mid 700's for a few years now.

I have 1 mortgage loan, 2 autos (mine and a cosigned loan) and 6 credit cards (my alliant card isn't reporting to Transunion for some reason, so Credit Karma only sees it as 5 cards). If I had more accounts, would this really reflect positively on my Fico scores? Do they really want to see 41+ open accounts, or is this more tied in with length of credit history - the longer you've had credit, the more accounts you'll have reporting even if they're not all active? I only have 9 closed accounts.

[Anonymous]

Even if you're using a FAKO service for convenience, ignore their scoring advice.  Stick with the advice you receive here.  My experience is that the conflicting advice you receive on FAKO sites can cause a drop in FICO scores. 

Also note - even if this question mattered - they're looking for total number of accounts - not number of open accounts.  DH had an 804 EQ score with less than 20 total accounts.

[smallfry]

myFICO really needs a newbie sticky in scoring telling people to ignore this type of advice given by these outside services.

[haulingthescoreup]

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smallfry wrote:
myFICO really needs a newbie sticky in scoring telling people to ignore this type of advice given by these outside services.

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Working on it!

[Anonymous]

+1 on ignore the FAKO.

Not long ago I had a new CC account show up on my CR which resulted in my TU (TrueCredit) FAKO score DROPPING 60+ points. I was worried because I was about to get a mortgage, so I purchased my TU FICO from here and it had GONE UP 20 points.

[llecs]

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ilmalc wrote:

+1 on ignore the FAKO.

Not long ago I had a new CC account show up on my CR which resulted in my TU (TrueCredit) FAKO score DROPPING 60+ points. I was worried because I was about to get a mortgage, so I purchased my TU FICO from here and it had GONE UP 20 points.

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That reminds me of CCT and their PLUS FAKO score. When we could pull the EX FICO, I found out that my last CA fell off. I pulled my EX FICO and it jumped 58 points. I pulled EX on the same day to figure out that change and that FAKO dropped 8 points. Go figure.