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Does waiting for inquiries to expire from credit reports before applying for loans have much impact?
Wiki User
∙ 16y ago
yes, recent inquiries will drop you score. If you are shoping are for a mortgage you should pull your own credit report and see what the multiple lenders can do for you with our pulling your credit each time.
Wiki User
∙ 16y ago
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Does applying for loans take a stab at your credit?
It increases it, for you are now more credible with someone's money, or you have more credit. Answer Too many inquiries can have an effect on your perceived credit worthiness. It is best to check your credit report before applying; fix any erroneous items and then your application is more likely to be successful.
How often should you re-apply for credit?
Inquiries remain on your credit history for 2 years, and will affect your scores and ability to attain credit. Mortgage and Car loan inquires are a little different: the bureaus allow for "shopping time" so that multiple inquiries of this type of credit only count as one as long as they are within the same 30 day period. Usually when you are declined credit, they give you specific reasons for the decline. Fix the reasons before re-applying, otherwise, you will just be shooting yourself in the foot with added inquiries.
How long before a loan shows in your credit score and how many points will it increase?
typically, a credit score will go DOWN a little when you get a loan or have any inquiries on your personal credit information. The credit score usually goes up after there are reports that you have made timely payments on a loan and after you have some assets that are of real value.
How long after bankruptcy should one wait to apply for a new credit card?
It is best to first clean up your credit reports after the bankrutpcy before applying for new credit. Wait at least 3 months after discharge to start cleaning up any inaccuracies on your reports. You can apply for credit the day after your discharge, but your success rate will not be very good and the interest rate you pay will be very high.
Where could someone compare the APR of credit cards before applying?
Currently, there are a variety of websites online that allow consumers to compare the APR of credit cards before applying for them. Some popular sites include Bankrate and MoneySuperMarket.
Does applying for loans take a stab at your credit?
It increases it, for you are now more credible with someone's money, or you have more credit. Answer Too many inquiries can have an effect on your perceived credit worthiness. It is best to check your credit report before applying; fix any erroneous items and then your application is more likely to be successful.
How often should you re-apply for credit?
Inquiries remain on your credit history for 2 years, and will affect your scores and ability to attain credit. Mortgage and Car loan inquires are a little different: the bureaus allow for "shopping time" so that multiple inquiries of this type of credit only count as one as long as they are within the same 30 day period. Usually when you are declined credit, they give you specific reasons for the decline. Fix the reasons before re-applying, otherwise, you will just be shooting yourself in the foot with added inquiries.
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How long before a loan shows in your credit score and how many points will it increase?
typically, a credit score will go DOWN a little when you get a loan or have any inquiries on your personal credit information. The credit score usually goes up after there are reports that you have made timely payments on a loan and after you have some assets that are of real value.
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