Gas Credit Card Account

Author: Jay
Posted: Thu Jul 01, 2004 10:17 am
Post subject: Gas Credit Card Account

7/23/2002 4:24 pm CDT

Does a gas card account impact your credit Fico ratings positively or negatively, or not at all. When the terminology "credit account" is used in realtion to credit reports, does this count as one, or are they only talking about major credit cards? In other words, is one gas card one "credit account" too many , interms of its impact on a credit rating? I have four major credit cards, one dept. store (Sears), and one gas card (ExxonMobil). Is this too many accounts?

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Author: jason
Posted: Thu Jul 01, 2004 10:17 am
Post subject: Gas Credit Card Account

7/24/2002 2:47 am CDT

A gas card account is reported just like any other credit card. If you are worried about your FICO score as in a gas card, it does not really matter. Higher credit limits on your cards which are good $1600 or more, low balances on all accounts 20% or less is best. On time payments are the key also.Pay off balances, keep debt lower. time=FICO higher

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