Free FICO score from Credit Union

[philly1]

So my Credit Union gives me a free FICO score from Experian every month. Nice feature but I wonder how serious I should take the number. Last month my score was 784 and this month it's 807. Obviously it went up but under the score it tells me:


1. You've recently opened too many new credit accounts.
Your FICO score was hurt because you recently opened too many new credit accounts. Opening several credit accounts in a short time period may indicate a risk of future repayment - especially for people with short credit histories.

Actions you can take: Avoid opening more credit accounts at this time and as a general rule, if you don't need or plan to use credit, don't apply for it.

2. You have too many credit accounts with balances.
Your FICO score considers the number of accounts you have with balances. For credit cards, even if you pay them off in full each month, your credit report may still show a balance on those cards. The total balance on your last statement is generally the amount that is shown on your credit report.

Actions you can take: You should consider reducing the number of your accounts that carry a balance and keeping your balances low.