Much talk about too much credit lowers ones FICO score. For those of us rebuilding credit, where is there a good balance when it comes to getting more "positive" tradelines and having too many revolving accounts. Obviously having more positive tradelines is good for FICO, but where do you stop when rebuilding credit? I now have 6 visa's and mcards (only 4 report) and about 15 positive (0 negative, except for BK)tradelines since a BK in 92. Any feedback would be great. chet
RE: Improving ones FICO score. Your BK is due to come off next year. I would take the time now to close out some of the smaller accounts you have little by little. FICO will treat someone with 2 $5,000.00 accounts much better that one with 5 $2,000.00 accounts. Bear that in mind when choosing which ones to close. I would try to go down to your highest 6-8 trades and stick with those ones, then when your BK falls off you should be in a position to start "Trading" one small high APR account for a larger better APR account!
