Total Number of Accounts on Report is Hurting my FICO Score

[Anonymous]

I pulled my TransUnion report thru myFICO today and there's a flag indicating that the number of accounts I have is hurting my score. I have 35 accounts total.

14 of these accounts are Sallie Mae student loan accounts and 6 more are student loan accounts with USA Group. All have a "unrated or bankruptcy" status. I consolidated my student loans, so all of these have a zero balance and were opened no later than Feb 2003 and all were closed in July 2003, when I consolidated.

My question: how do I get these accounts reduced or eliminated so they don't hurt my score? My score is 699, so I'm just a few points from getting better interest rates. Very important to me since I hope to be buying a new home soon.

Any recommendations????

[Tuscani]

How old are your newest accounts? The unrated accounts shouldn't affect your score.

[Anonymous]

I have three accounts opened in 2005, Dell, Chase credit card, and a car loan.

The report has a red flag on the "Credit at a Glance" page next to Total number of accounts. I have 35 total. (The report is the new easier to read format.)

[Tuscani]

Weird.. I have just as many TLs and I do not see that.

[Anonymous]

I think perhaps the software is really reaching hard for a reason and pulled that one because it had nothing better to latch onto.

[Anonymous]

Well I have other flags too. That's just the one I don't understand. Could it have something to do with the "Unrated or bankruptcy" Status?

[Anonymous]

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@Anonymous wrote:

Well I have other flags too. That's just the one I don't understand. Could it have something to do with the "Unrated or bankruptcy" Status?

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I would try to get the status changed to "Closed" "Paid as agreed"

I have an account that has a similar marking that is causing my Equifax score to be 20 points lower than the others.