Does alot of open accounts on your credit report make you score go down (student loans)?

I have student loans (not yet in repayment), two charge off and they say I have a poor credit history. I just got out of school and now just realizing that your credit history is your life. I can%26#039;t get approved for anything.

What should I do about building up my credit score, if nobody willing to give me a chance do to my past.

Does alot of open accounts on your credit report make you score go down (student loans)?

Your Credit History decides your FUTURE. So make sure you set it right. There is a centralized credit bureau which keeps records of everyones%26#039; credit history, repayment methods and finally arrives at a credit score. This decides how much and for how long will you get loans or maybe your credit Limit.

you best bet out it to get a Charge Card (Credit Card) and build up a history over a period of time by re-paying on time and making sure you don%26#039;t default. Get your old scores settled.

The more number of credit cards and credit accounts you have open, the harder your credit rating is hit as the policy is that you have a lot of unused credit lying with you and may run away with it anytime. So cut down on the number of credit cards you have from different banks and close all the loans before applying for a new one.

Remember the Max it would take would be 3 years as credit ratings older than three are supposed to be nullified (Legally), and you also have the right to know your credit score so you can get to know where you stand.

Hope that Helps

Does alot of open accounts on your credit report make you score go down (student loans)?

unfortunately...yes!!! it will also put negative marks on there for people checking your credit report.....go figure

Get a co-signer for a loan at a bank..make payments on time. then after paid off see if they will give you small loan with no co-signer. If so pay off on time and so on and your credit will slowly build. Along with paying off your student loans.

Does alot of open accounts on your credit report make you score go down (student loans)?

I think it as more to do with what you do with those open accounts. If you have 10000 of open credit with 2000 charged on it, thats better than having 10000 of open credit and having 75% of it filled. I would definately work on paying the charged off accounts. Its a start.