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Tuskers

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15 People Helped
About total # of accounts
Am I reading this total accounts chart correctly? It says in order to get an A in the total accounts category I need 21 accounts!! 21 accounts?? That can't be right.

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Let's see,  over a 7 year period a couple might have the following accounts show up on a credit report

2 current and one paid off car loans

1 home loan.

2 gas station credit cards

14 different store credit cards some that could be closed.

And maybe 3 or 4 bank cards visa McCain discover.

Remember hard inquires only last 2 years.

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Helpful to 1 out of 1 people

I came on here trying to find out how many cards are needed for an "A" (since I also was astounded to see that I had an "F" in this category) and was completely shocked to read this. I expected the opposite - that fewer cards would mean a higher score because there is less risk because the borrower has fewer obligations! No wonder there are so many people with low scores these days with people running around with 20+ cards. For the people who want a high score but are responsible with our credit I guess they expect us to get a bunch of cards we don't use, and maybe buy one cup of coffee on them each month to keep them active. I paid cash for my car and it is paid off - that should be a good thing, but I guess instead it's "bad" that I'm not paying off a loan instead?? I can see how it would be good in your utilization going down with more accounts - but that is its own category.

Top Contributor
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Can't be right, but that's how CK rates your Credit. Also notice that to obtain an "A" score you must have 0 hard inquiries. How is it possible to have 22 accounts with 0 inquiries? Something is not right.

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Reply by
tg101688

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Helpful to 2 out of 2 people

Actually it is possible as long as all the accounts are older than 2 years old and you haven't applied for any new credit in the last 2 years.

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