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I was having a discussion with a guy who was trying to sell me a refi on a HELOC I have. He was looking at my credit report (I gave him my info as I was in the market sort of) and he told me that the number of accounts I have on my report was contributing to my average-ranked FICO score (663).

I just rejoined this board and have been reading posts and looking for detail on this issue. In the FICO links I've found through this website, they don't list "reduce number of accounts" as a way to improve your FICO score. But the guy definitely seemed to be reading something on my credit report which summarized negative flags for me "too many open accounts."

Does anyone out there know? Does too many open accounts bring my credit score down? I thought having high available credit was good for the FICO score.

The "too many accounts" are pretty much just gas cards or retail cards ala Old Navy or Generic Furniture Liquidators Extravaganza etc that I opened to just get a 10% discount on my purchase (or a really cool t-shirt) and then have never even used. Most of them just have like a $500 limit or something. Should I write and close those out? Or did this guy not know what he's talking about?

All help appreciated,
Shirtless Fool
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