The meaning of “too few accounts rated current”

Dear Experian,

What does “too few accounts rated current” mean?



Dear TJM,

In addition to looking at your payment history, credit scoring models also look at the number and types of accounts you have, as well as the length of your credit history. “Too few accounts rated current” indicates that there are not enough accounts with a payment status of “current” in your credit history to have a more positive impact on the credit score.

This may mean a number of your accounts show past due or late payments. It could simply mean that you have very little credit history. Or, it could be a combination of both. You should be able to tell by looking at your personal credit report.

If your accounts do show late payments, the best thing to do is to bring the payments current and then continue to pay every bill on time going forward. Over time, any late payment history will affect your credit scores less and less.

If the issue is that you are just beginning to build a credit history, you may want to consider acquiring at least one additional credit card account. If you can use it without being tempted to overspend, that will add positive points to your scores.

Thanks for asking.

- The “Ask Experian” team

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