Submitted by IndexBot t3_zzbcyz in personalfinance
OkDistribution6 t1_j2e5umw wrote
Might be a dumb question, but is Credit Karma's ratings/suggestions actually helpful or just marketing tools?
I have 3 active credit cards (no balance), a 799 score, and paid-off car (1) and students loans (3). No late payments or delinquencies. Credit Karma is suggesting that I have too few accounts (7) with too low of an average age (5.5 years at the moment).
Is this something I should be concerned about seeking to improve, especially if I am considering purchasing a home within the next 5 years?
I have seen churning suggested, but it's not something I have much interest in, both because I don't feel that I need a new card and because the time required seems excessive given the return.
techcaleb t1_j2e7e75 wrote
Mostly just marketing tools. They matter if you are trying to get to a perfect score, but any score above 760 is already considered perfect by pretty much any lender, so it really doesn't matter.
OkDistribution6 t1_j2e9xd7 wrote
Appreciate it.
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