wootwoot wrote:Through credit karma I have a 768 FICO score.
If you have a 768 Credit Karma score (TransRisk), that is excellent and there is no need for improvement. Credit Karma says that 22% of scores are above 750.
One thing that credit karma dings me for is the number of total accounts being low.
The Credit Report Card on Credit Karma has oversimplified criteria. The factors on the Credit Report Card are considered in your credit score, but not as single numbers. For example, the number of accounts you have matters, but so does whether they are open or closed, and what type of accounts they are. You can have an excellent score with only three accounts if they are one open mortgage and two open credit cards, or a poor score if they are three credit cards and only one of them is open.
I would like to open a no interest card later this year to pay for grad school but I wasn't sure if I should open a 4th card for rewards as well or if a 4th would bring my score down more by lowering the average card age by too much.
Your goal shouldn't be to improve your score, but to make the most use of it. If you use your good score to open two accounts with desirable terms, your score will decline temporarily, but that won't matter if you aren't applying for credit (or insurance if your state allows credit scoring for insurance) at the time. And after a year or two, the new accounts will no longer be new, the inquiries used to open the accounts will not be counted against you, and the added number of accounts will improve your score.