@Anonymous wrote:
@donkortJust like TT was speaking of the negative reason code for too few bankcards, some say "too few/too many," so there is obviously a penalty, however small, whether there are too few or too many. I wouldn't worry about it too much, the penalty is likely small at the top end.
I believe I began seeing the too many code around 16, IIRC. And I believe you are penalized if you have less than 3, which is where the myth of "all you need are 3 cards for top scores" came from.
I would agree 5 is optimal for scoring across FICO models, IMHO.
@AnonymousAs to thresholds, I don't think they've been conclusively pinned down, but IMHO, I believe 20%, 33%, 50%, and 100% probably exist, as well as maybe another over 50%, although I don't know if all are on all models and variations. Hopefully with some future testing we can nail these down.
It does vary across scorecards seemingly but I will absolutely document the Experian scores concretely once things settle down from a credit perspective for someone with new revolvers. Two mortgages and a few CU apps and BT credit cards take precedence but that I hope is all sorted by July and then I am steady state without known changes for the next several months. I will change my due dates around so they aren't all on the same day so I can try to get better resolution too.
