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Generally, anything you do that takes on more debt will lower your credit score.

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โˆ™ 2006-02-27 02:38:44
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Q: Does accepting a pre-approved credit card lower your credit score?
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Related questions

What are the advantages of accepting credit card sales?

wth out doing that you have no credit score and take the oppurtunity to get a better score

Does checking your credit score often lower your credit score?

No. The only thing that can lower your score is when you apply for new credit. Many companies do background checks that include a credit report, but this will not lower your score. There are ways to avoid lowering your score on accident. Make sure you're not falling into these credit traps.

If you reduce your credit limit on a credit card does it affect your credit score?

yes, it will lower your FICO score.

Does receiving credit drop your credit score?

Not by receiving credit. However, when a number of organizations keep looking into your credit, it does lower the score slightly.

How does your credit rate effect your mortgage rate?

The higher your credit score, the lower your payments. The lower your credit score, the higher your payments. The analogy above shows how your credit rate affects you mortgage rate.

Does your credit report get worse if you max out a credit card?

Your credit score gets lower.

Does being denied for credit lower your credit score?

Yes. It is reported on your credit report.

What should my credit score be before trying to purchase a home?

When you are getting a home they like to see your credit score 620 and above to get preapproved for a loan. But in order to get better rates for loans they usually want to see your score in the range of seven hundred. They may be more forgiving if this is your first home purchase.

Will bill consolidation hurt your credit score?

If you are not able to pay your many student loans, your credit score will be hurt. If you consolidate, you have a better chance of having a lower monthly payment that you can handle. A lower score that you will be able to pay, which in turn will only help your credit score.

Is 766 a good credit score?

Yes, 766 is considered a good credit score. It is not a perfect credit score, but should be able to get you lower interest rates and approved loans.

A lower credit score will help with what?

To answer the question, no a lower credit score won't help with anything. Maybe you were trying to ask how to help your low credit score. A few things you can do is pay your bills on time, increase your debt to limit ratio, diversify your credit, and remove negative items and inquiries from your credit.

What effect does a credit score have on a mortgage?

The credit score can effect mortgage rates in a lot of differnt ways. If someone has a high credit score he get a lower mortgage rate and if someone has a low credit score he gets a higher mortgage rate.

Does each credit report you make lower your credit score?

Yes, not by much but, yes.

Will paying off loans early give you a lower credit score?

As long as you have had the loan open for 12 months and have been making timely payments it will not lower your credit score. It will actually increase your credit score to pay off early if it is an installment loan.

How can you lower your interest rate on credit card?

Your credit score plays a huge role in determining the interest rate that credit card companies are willing to offer you. Generally, the better your credit score, the lower the interest rate you can expect to pay. You may want to get a copy of your credit score, and see if there are any discrepancies or outstanding debts that you didn't know about. If you can fix these problems, your credit score will generally improve over time, and then you can reapply for a credit card with a lower interest rate, or call your credit card company and see if they can give you a better deal with your improved credit score.

How much can buying a new car lower your credit score?

Buying a new car changes what's called your utilization ratio. This is the amount of debt you to the amount of credit you have available. The lower your ratio, the better it is for your credit score. Additionally, before lenders give you a car loan, they'll want to see your credit score. Checking your score for this reason causes a "hard inquiry" to be placed on your credit report. Hard inquiries can lower your score and remain on your credit report for up to two years.

Does checking your fico score lower your fico score?

if you check it wount lower your score. If you are applying for a loan and multiple people pull your credit it will drop some.

Can one late payment can lower your credit score?


Can late payment lower your credit score?

Yes it will definitely!

Can one late payment lower your credit score?

yes it can

What kind of credit score to you have to have for a fingerhut account?

Fingerhut will often approve people who can't get approved for other credit, so credit scores as low as 600 or lower might be approved. The amount of credit you get from Fingerhut will depend on your credit score, so if you have a lower credit score, you may not get a lot of credit right off the bat, but if you keep paying on time, they will continue to raise your credit limit.

Do free credit reports lower a credit score?

According to those selling this product, they do not. They instead provide "soft inquiries", which do no damage to a credit score and do not appear on statements. This is as opposed to "hard inquiries", typically performed to see if a consumer is over-extending his credit, an act that by itself can lead to a lower score.

What does a fico credit score of 826 mean?

FICO credit scores, which are the most extensively used credit scores, range from 300 to 850. A credit score of 826 means that you would be considered a low risk for a loan. You would also have a lower interest rate on a loan than someone who has a lower FICO credit score.

If someone checks your credit will it lower your credit score?

Yes, not by much but it does go down though.

Does your credit score affect your auto loan rate?

Absolutely it does! Your credit score is used by credit agencies to determine the amount of risk they are taking on. If your credit score is bad or low then you auto loan rate will be higher. However, if your credit score is good or high then your auto loan rate will be lower.