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How many is "too many"?

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Just pulled a score at MyFico and one of the "negative factors" according to them is too many open accounts with more than zero balance. If all of them are reporting as "good" then how many is too many? Is the only "right" move to pay them off or should I be doing something in addition like closing accounts?

Oh.....btw.....score I pulled is 633 on TU.

Thanks a bunch!

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Guest jeeptravel

Keep your total utilization of credit under 40% of your credit limit, and your score will increase after a few months.

If you aren't using some of the accounts, then go ahead and pay them off to zero and leave them alone.

I don't think you need to close accounts, although some on this board can tell you otherwise if I am wrong. I would just say pick a few you like and then use ony those.

Good for you getting your report and working on negatives. This board is awesome. I might recommend doing a search on the board when you have specific questions that may have already been answerwed. It will keep you from having to wait until someone might log on to answer your questions.

Hope that helps.


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Don't close your accounts if you pay them off. Length of an account figures into your score. Every quarter or so buy a pack of gum or loaf of bread just to keep them reporting.

Your score will slowly go up with open cards even with a 0 balance.

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