Red Flag

[Anonymous]

There was a red flag on the Transunion report by the number of accounts, there are 32 accounts and my credit score was a 770.  What does teh red flag indiciate and how is it negativley impacting my score.

[Anonymous]

The red flag indicates the CRA would love to save some money on storing all your account information

Seriously, it's not going to keep you out of the 800 club on it own

Message Edited by reots on 03-26-2009 02:26 PM

[haulingthescoreup]

Yes, this red flag appears with 30+ accounts, both open and closed, but it appears to be meaningless in terms of points off scores. These days, just student loans alone could be almost half this amount (8 semesters of undergrad plus 6 semesters or more of grad school, each with a separate student loan.)

Don't worry about it, and especially don't start closing accounts or trying to get them deleted.

[Anonymous]

Thank you appreciate your response Fatih33