How many credit accounts should I have? (for the best score)

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How many credit accounts should I have? (for the best score)

Postby moolah » Fri Feb 15, 2013 12:48 pm

I'm 22 right now and I have two credit cards and one auto loan accounts open. I was looking at my creditkarma account I saw this graph:

It show that usually people with more accounts have a higher score, but does this mean there's an optimal amount of credit accounts you should have open?

Throughout most of my adult life, I'm thinking I'll open a few more credit cards, maybe 3-4 more auto loans (at most), and buy a house in like 10-15 years. So this will probably only amount to about 7-10 accounts at most.

My current credit score is at 607 CK, how has your credit score been affected by having more or less accounts open? Is it bad to have only a few accounts?

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Postby DavidNY » Fri Feb 15, 2013 2:06 pm

The number of credit lines you have is not a major factor in your credit profile. I have about ten credit lines open and have an excellent credit history.

Just pay everything on time and if you see a credit offer you like, go for it.

If you decide to get an auto loan, check with your local credit union, they tend to have very good rates..

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