How to build credit

[bluef0x]

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
Get it through your thick skull that good credit doesn't rely on how many credit cards you have. Why don't you learn a subject before arguing out of your ass?

Business people care about your entire credit in general and you know nothing about credit. Not to mention, you don't do an app-o-rama if a credit score fluctuation will cost >10k. If you don't understand this you are a complete buffoon.

[/ QUOTE ]

Having too many credit cards will hurt your FICO score. The threshold is pretty high though and this is a very small part of the score. On the other hand, thanks to the consumer credit crisis at present, we may very well be headed back to relying less on FICO and more on human judgment in credit analysis - having flipped a lot of credit cards can't look too good. Of course this depends on how far you take this - no one will care about 7-8 credit cards, for instance.

[/ QUOTE ]

Sorry, but you are wrong. You can find out how a FICO score is calculated on your own.

[/ QUOTE ]

Do you have any specific evidence or are you just guessing? Nearly all FICO estimators I've seen start penalizing after 4 credit cards, because it prefers a "good mix/portfolio" of credit.

And do you not agree that it would look pretty fishy, say, to a mortgage underwriter to have had more than 7-10 credit cards?

[/ QUOTE ]

FICO does not penalize for having over 4 credit cards. Jeezus [censored] christ, where do you get this information from? Use google for 2 minutes and you will find all you need to know.

No, it would not look fishy to anyone if you have 10 credit cards that carry a $0 balance. In fact, it would look good assuming they are old.