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Does the number of accounts you have open on your credit report affect your credit score?

There is no limitation as to the number of accounts you should have on your credit report, most lenders want you to have a minimum of 3-5 total credit accounts. Credit accounts could be revolving, installment, auto, or mortgage type accounts.

We recommend having 3 revolving, 1 installment, 1 auto, and 1 mortgage. If you want more there won’t be a penalty so long as you are managing them properly.

As with all rules there is always exceptions. We have seen the credit bureaus fail to provide a score on someone who had years of perfect credit because they had over 100 total accounts. She did a lot of credit surfing which means she always transferred her balances to cards with lower interest rates. Once she hit 100 open and closed accounts she fell out of the FICO formula and did not generate a score.

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