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Once you've been preapproved havent they already run your credit if so why do they charge you a credit report fee at closing?
Wiki User
∙ 16y ago
Some brokers do a "preapproval" without running your credit. They base their answer on how you deem your credit is. It is very irresponsible of a lender to do.
In most cases the lender runs your credit early in the loan process. As a convenience to you, they do not charge you upfront. If they did, they would also have to collect upfront for the appraisal, title work, automated underwriting findings, processing, underwriting, etc. Rather than charge you as each of these costs are incurred, the lender will normally collect most of these fees at closing.
Wiki User
∙ 16y ago
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If you had a preapproved letter from AMEX but applied for another card on their website and were denied then sent for the preapproved one and got it will that affect your credit?
The original AMEX the you were denied for will affect your credit negatively. You will have two separate inquiries with only one open account within a period of six months.
Does closing a cedit card by the consumer affect their credit negatively?
Closing an account will affect your credit score and decrease your score.
Do you get your money back when you cancel your membership for audible?
No, they already gave you the credit when they charge you for the month. You can use your credit, and then cancel. You will still have access to all of your books, even after you cancel.
When the credit card company gives you the option of closing your account instead of accepting their interest rate increase and you choose to close do they still charge you interest each month?
You can't close a credit card unless the balance is zero.
What is the difference between a preselected and a preapproved credit card?
Preselected pretty much means nothing. It's a marketing phrase to make you feel special and means that your name appeared on the mailing list they bought. Preapproved can mean that your intitial criteria matches the lender's requirements for issuing credit. However, you'll see at the bottom of any mailer you receive that the company reserves the right to reject you if fail to meet all their criteria.
Can they charge you an over the limit fee if your credit card is closed?
Yes, if the charge was made prior to closing your account.
If you had a preapproved letter from AMEX but applied for another card on their website and were denied then sent for the preapproved one and got it will that affect your credit?
The original AMEX the you were denied for will affect your credit negatively. You will have two separate inquiries with only one open account within a period of six months.
Do you know if I can get tractor at a local credit union?
Whether or not you can get a loan at a good interest rate is going to depend on your credit and the value of what you are financing. The best thing to do is call your local credit union and get preapproved.
Can a credit card company charge a three percent fee up to one hundred dollars for closing an account with a balance?
Yes.
Does closing a cedit card by the consumer affect their credit negatively?
Closing an account will affect your credit score and decrease your score.
Do you get your money back when you cancel your membership for audible?
No, they already gave you the credit when they charge you for the month. You can use your credit, and then cancel. You will still have access to all of your books, even after you cancel.
Where can I go to get some information on credit bureau?
You can obtain a free credit report from Experian once per year for free. If you try to obtain a credit report and they charge you, you may have inquired about one already.
Where can I find credit score advice online for bad credit repair?
You can obtain a free credit report from Experian once per year for free. If you try to obtain a credit report and they charge you, you may have inquired about one already.
What is the difference between a preselected and a preapproved credit card?
Preselected pretty much means nothing. It's a marketing phrase to make you feel special and means that your name appeared on the mailing list they bought. Preapproved can mean that your intitial criteria matches the lender's requirements for issuing credit. However, you'll see at the bottom of any mailer you receive that the company reserves the right to reject you if fail to meet all their criteria.
When the credit card company gives you the option of closing your account instead of accepting their interest rate increase and you choose to close do they still charge you interest each month?
You can't close a credit card unless the balance is zero.
Would closing a credit card damage my credit score?
Yes closing a credit card can damage your credit score. But as long as everything else is good it should not affect you credit rating to much. Look for tips to keep a good credit card rating.
What's a website I can check my credit score free?
You can obtain a free credit report from Experian once per year for free. If you try to obtain a credit report and they charge you, you may have inquired about one already.
