I currently have 8 credit cards(4Visa,4MC), 1 small business cc, 4 store cards(2 Dept Stores, 1 Walmart, 1 Gas), and 2 student loans.. Is the 12 cards too many tradelines? total avail credit is 22k
I pulled TU last week and FICO stated my score would be higher if I had an average of 6 TLs (I currently have 10). Apparently, the average consumer has an average of 6 TLs (not counting installment loans). My FICO was 770+ so I figure this is one of those obscure reason codes that come out as one approaches 800 range, but it's still informative and would be helpful for somebody who is looking to get as many FICO points as possible from whatever source... Mr.X
When you hit about 6 or 7 open accounts it is viewed as a positive... Not sure at what point above that they look at it as being too much of a good thing...
