34: Most recently opened revolving account is too new


Revolving accounts allow you to carry a balance and your monthly payment will vary, based on the amount of your balance. The revolving account that you opened most recently is still too new. A credit file containing older accounts will have a positive impact on your credit score because it demonstrates that you are experienced in managing credit.


Don't open more accounts than you actually need. Research shows that new accounts indicate greater risk, especially if overall account history isn't long. Your score will benefit as your accounts get older.