More cards are extremely beneficial for your credit score. My profile is so thick that inquiries no longer effect my score the credit score is now bullet proof excellent stuff! ✊
@@robertcalland1854 Lot’s of credit mix is important for your credit profile, lot’s of positive reporting revolving accounts helps your profile become thick and bullet proof. Lenders like to see you can manage many accounts responsibly if you can manage them all no harm done.
If that’s true, I have no problem with that. My highest utilization was 30% just to check the theory that it wouldn’t matter that much. It didn’t. That is was early in my credit card life, since then I has been from 0- 5 percent unitization consistently. So if the system changes I will be alright.
More cards are extremely beneficial for your credit score. My profile is so thick that inquiries no longer effect my score the credit score is now bullet proof excellent stuff! ✊
Expound as
To why?
@@robertcalland1854 Lot’s of credit mix is important for your credit profile, lot’s of positive reporting revolving accounts helps your profile become thick and bullet proof. Lenders like to see you can manage many accounts responsibly if you can manage them all no harm done.
Great information! This should definitely be taught in High School.
Great mythbusters episode
Great episode!
Very informative! Any idea if it’s possible to downgrade / product change business cards to personal cards? Could be a good work around of 5/24 if so!
This is not possible to product change from business to personal. I’ll gladly be proven wrong if someone has successfully done this
I have heard that future fico models will include “historical utilization ratio” as a new metric to calculate score. Thoughts on this?
If that’s true, I have no problem with that. My highest utilization was 30% just to check the theory that it wouldn’t matter that much. It didn’t. That is was early in my credit card life, since then I has been from 0- 5 percent unitization consistently. So if the system changes I will be alright.
Inquiry has no impact on FICO score after 12 months but do stay on your credit report for 24 month.
🔥 video
👍🏼👍🏼