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August 10, 2020

Can you have too much credit?

  • Let's bust that myth right upfront: The leading credit scoring formulas don't punish people for having too many accounts.
  • By LIZ WESTON
    NerdWallet

    People who care about their credit scores tend to obsess about some things they probably shouldn't, such as the possibility they might have too much credit.

    Let's bust that myth right upfront: The leading credit scoring formulas, FICO and VantageScore, don't punish people for having too many accounts. And right now, having access to credit could be a lifeline.


     
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