I have a credit rating of 620, how many open accounts should I have to get to 700?
544689
It is not the amount you have open as much of how long your active accounts have been open. The longer it has been reporting to the credit companies the better. Also the amount of available credit compared to the amount owed has a drastic affect. It is much better to have 3 accounts with 25% of the line used than one at 50% or above.
443901
I am here to help.  First Premier Bank issues a low limit credit card (appx $150-$300) to people trying to rebuild their credit.  Now you are going to have to pay your min. monthly payments ON TIME, but after 6 months they will raise your available limit.  It's a good program if your SERIOUS about rebuilding your credit.  I've been there so I understand.
150875
It sounds as if your FICO score has been decimated by your ex. A FICO score is a snapshot of your credit risk picture at a particular point in time. The higher your score, the lower the risk to lenders. A FICO score can range from 300 to 850. The very best rates go to people with scores above 770, but a score of 700 is considered good (the average score is somewhere around 725), says Craig Watts, Fair Isaac's spokesperson. If your score is in the low 600s or below, it's time for concern. As you fall below about 600, you will see an increase in your lending rates. \n\nThe first step to increasing your score is to know where you currently stand. By law everyone is entitled to a free copy once a year. Also, you are entitled to a copy of your credit file free if you have been denied credit from the bureau that reported the information. If you've been denied credit, you must apply for your file this within 60 days of the denial. Log on to http://www.annualcreditreport.com or call 1-877-322-8228.\n\nOne way to instantly up your FICO score is to be put on an account with another individual who has a good credit score. You only need to be an authorized user, NOT actually ever use or even have possesion of the credit card.Your name only has to be associated with the account. By "piggybacking" on an account with someone who has good credit, you instantly up your own. Conversely, being on an account with someone who has bad credit drags your score down (as you have found out!). \n\nGenerally, people with high FICO scores consistently:\n* Pay bills on time.\n* Keep balances low on credit cards and other revolving credit products.\n* Apply for and open new credit accounts only as needed.\n\nFICO scores consider five main kinds of credit information. Listed from most important to least important, these are:\n* Payment history.\n* Amount owed.\n* Length of credit history.\n* New credit.\n* Types of credit in use.\n\nTalk with your lenders about the circumstances around you/ your ex's late payments. You can request that certain data be taken off or amended on your report. They may or may not do it but it is worth a try if it improves your score.\n\nBTW, one thing a person should NEVER do as it ADVERSELY affects their FICO score is close accounts once they are paid off! That actually lowers your credit score. FICO scores take into account your debt to credit ratio: \n\nIf you have 3 credit cards with $1,000 limits on each and they were all maxed out your debt to credit ration would be 100% of your available line. If you paid of two of the cards in full your debt to credit ration would be 33% (you only owe $1,000 on $3,000 of available credit). If you closed the two accounts you paid off and had one card left maxed out at $1,000 you would instantly go back up to a 100% debt to credit ration. So, bottom line when you pay a card off- Never close the account, just cut the card up.\n\nHere is an article from SmartMoney.com on "Credit Fixes That Can Fix You"- http://www.smartmoney.com/debt/advice/index.cfm?story=creditfixes\n\nand "Keeping Score" about improving your FICO score- \nhttp://www.smartmoney.com/nowwhat/index.cfm?story=20020826
1119447
It can vary greatly depending on various personal factors.  You will need at least 5 lines of credit that are well seasoned (at least two years of on time payments and low balances with high limits available.  The trick is to have a substantial amount of credit available and not to use it all.  A home mortgage paid on time for a minimum of 12 months will boost your score as well.  Do not open a bunch of accounts in a short period of time.  Do not apply for accounts that you uncertain whether they will approve you or not.  The other factor is to have successfully paid off a few installment accounts that show as paid in full on a timely basis.  Do not apply for motgages, auto loans, etc; if you have opened accounts that are less than 5 months old.  Newly opened accounts count against your scores.  You can sign up with a credit monitoring service for around $10 per month that will notify you by email every time something changes on your credit bureau accounts, including scores.  It is also useful in protecting yourself against identity theft and acts as an excellent early warning system in the event of unusual activity.\n   Remember, pay on time, keep balances low, ask for limit increases every six months or so.  Maintain several accounts of various kinds.  Pay some off and establish a solid record of responsible borrowing.  Good luck.
1007792
if you have alot of credit cards then close a couple... too much credit is just as bad as not enough credit.....      if you only have a few credit cards then keep them open.......  it raises your fico score....
368217
mattycindc is right on target!  Nice to see someone do the research before answering questions here.\n\nIt is generally recommended that you have 2-3 cards, and use them occasionally to establish a history for payments.\n\nIf you have more then 6, it makes it look like you have far too much available credit, and it will look bad to future lenders.\n\nWhen you close them, you are lowering your debt to credit ratio, which also looks bad.  It makes it look like you have suddenly used up a lot of your available credit.\n\nHere is your game plan.  If you have no plans to get a loan in the near future (6 months), then go ahead and close one or two cards.  It will lower your score for a short time, but your continued use of the other cards will quickly restore it.  Just try to keep 2-3 cards active.\n\nOther than that, you are doing everything right.  Pay on time, and keep your balances low.
503052
With the way interest rates are right now, plus depending on the person's credit rating...\n\nCredit Score:\n\nbelow 500; then charge 29.99% APR\nbetween 501 to 600; then charge 23.99% APR\nbetween 601 to 720; then charge 17.99% APR\nabove 721; then charge 14.99% APR
612020
The more you have, the more open credit you have which lending companies like. As long as you can pay them all off monthly (the best way to use credit cards) you can have as many as you want. I'd say optimal number would be 3-4. Those should be:\n1 visa\n1 mastercard\n1 discover\n1 american express\nThis way you can pay at any location that accepts any type of credit card. I'd also recommend cards that give you bonuses like cash back (discover and american express) or airline miles (all of them).
619274
Based on the scores I see at my bank, they average in the Mid 600's. I think the FICO average is 620-650.\n\nhttp://loan.yahoo.com/c/basics7.html
896761
More like 200-250pts.\n\nOne of the major components of credit score is % revolving debt carried.\nIf you make minimum payment I assume your debt is maxed out at your credit limit(s). This means you are carrying 100% revolving debt. You don't want to go anywhere near your credit limit - anytime your revolving debt goes above 33% of limit, your score falls, and if it goes above 50% and 66% your score nosedives.\nStrangely this is relative to % of credit limit, regardless of whether your credit limit is $500 or $50,000.\n\nLoan consolidation might help (lower your interest rate).\nThe most important thing is paying the debt off and reducing the rate of interest.
776245
770 is a "C" rating. \n\nThat would place you at about a 590-610 FICO \n\n http://www.expert-credit-advice.com/credit_score.htm
692118
The higher the limits gives you a better FICO score, the available credit can lower your score (i.e. maxed out cards). If you pay off your cards and keep the accounts open you will have a positive affect on your credit score.  Six months of on time payments can boost your score by 15 points, that's how I raised mine.  I have one revolving account(credit card) and one installment account(car payment) and I've raised my score in the last 3 months by 22 points.
1104370
First of all your credit score is pretty decent,infact anything over 620 is good enough to obtain a mortgage,so if you want and are willing you can buy a house to.\nSecondly when looking at a credit report lenders or landlords look for things such as credit lines,length of those credit lines, payment history,accounts in collections,delinquent accounts to name a few.\nAnd thirdly when looking at a report,the report from all three bureaus are taken into consideration and your middle score(the number between the highest and lowest) is the one which is taken as your credit score.
507504
yes, you will likely qualify for a higher limit. Mine is similar and I reject more offers than I accept.  One of my finance professors used to categorize people with FICO of 720 and above as those who would skip eating before making a late payment.  He also used to give advice to young female students regarding who to date based on credit scores.  He was funny and the advice seemed pretty valid in my experience.
1155925
Being approved for five accounts will temporarily lower your score. When you have three or more inquiries within a three month period your scores go down because it appears you are shopping for credit.\n\nNow, If you max out all your cards your scores will suffer even more. My advise is to only use one or two cards, pay the balances off each month, your scores will climb back up quickly.\nOne criteria for score keeping is debt ratio, another is available credit. Unused credit, or monies available but not used, will influence your scores positively in the long run.\n\nI agree with the previous answer, Limit yourself to three accounts. However, if you shelve the accounts you don't use than your scores will rise due to available unused credit.\n\nThe question is discipline.
1133566
To have good credit, you need to have opened a credit card account or loan. You must pay it monthly on time. If you are late once it will be on your credit report for 7 years.\n\nDo not spend more than your credit limit.\n\nYour debt to credit ratio should be around 25% or lower.
1054356
Your credit score is good..any thing above 700 is good and gets you rated as a AAA. just keep paying everything on time \n\nNormobrian is a moron  he is totally wrong