Comments on: When a bank looks at credit score to determine financing, does it affect my credit rating? http://creditconnectpro.com/when-a-bank-looks-at-credit-score-to-determine-financing-does-it-affect-my-credit-rating/127/ Free Credit and Debt Information Mon, 21 May 2012 23:23:56 +0000 http://wordpress.org/?v=2.7 hourly 1 By: John Bradley http://creditconnectpro.com/when-a-bank-looks-at-credit-score-to-determine-financing-does-it-affect-my-credit-rating/127/comment-page-1/#comment-324 John Bradley Thu, 01 May 2008 08:30:09 +0000 http://creditconnectpro.com/when-a-bank-looks-at-credit-score-to-determine-financing-does-it-affect-my-credit-rating/127/#comment-324 Yes, your credit rating is affected every time an inquiry is made into your credit file. When applying for loans, make sure that all inquiries into your credit history are done within one week. It'll all count as one inquiry. For example, if you want to check with 2 or 3 banks, do it all in one day, and all those inquiries count as one. The theory behind all this is that too many credit inquiries signal to creditors that the applicant may be desperate for credit. People that are desperate for credit tend to be bigger credit risks. Yes, your credit rating is affected every time an inquiry is made into your credit file.

When applying for loans, make sure that all inquiries into your credit history are done within one week. It’ll all count as one inquiry. For example, if you want to check with 2 or 3 banks, do it all in one day, and all those inquiries count as one.

The theory behind all this is that too many credit inquiries signal to creditors that the applicant may be desperate for credit. People that are desperate for credit tend to be bigger credit risks.

]]> By: SPIFIMAN1 http://creditconnectpro.com/when-a-bank-looks-at-credit-score-to-determine-financing-does-it-affect-my-credit-rating/127/comment-page-1/#comment-323 SPIFIMAN1 Tue, 29 Apr 2008 10:41:45 +0000 http://creditconnectpro.com/when-a-bank-looks-at-credit-score-to-determine-financing-does-it-affect-my-credit-rating/127/#comment-323 Not really, when people shop for a vehicle or home all inquiries made in a 14-day period are lumped together and only count as one, they all show but your score only gets dinged once. Not really, when people shop for a vehicle or home all inquiries made in a 14-day period are lumped together and only count as one, they all show but your score only gets dinged once.

]]> By: Heisenberg http://creditconnectpro.com/when-a-bank-looks-at-credit-score-to-determine-financing-does-it-affect-my-credit-rating/127/comment-page-1/#comment-322 Heisenberg Sat, 26 Apr 2008 12:24:13 +0000 http://creditconnectpro.com/when-a-bank-looks-at-credit-score-to-determine-financing-does-it-affect-my-credit-rating/127/#comment-322 It can, yes. Along with debts and all that, they also track how often you have someone look at your credit score. It can, yes. Along with debts and all that, they also track how often you have someone look at your credit score.

]]> By: Benzo http://creditconnectpro.com/when-a-bank-looks-at-credit-score-to-determine-financing-does-it-affect-my-credit-rating/127/comment-page-1/#comment-321 Benzo Wed, 23 Apr 2008 13:16:44 +0000 http://creditconnectpro.com/when-a-bank-looks-at-credit-score-to-determine-financing-does-it-affect-my-credit-rating/127/#comment-321 A few inquiries a year doesn't hurt your score. It helps to know if or how you qualify before you look for a house. It's hard to buy a house without pre-approved. Say that you found one you like but then by the time you get approved it could be gone. Or if you're approved but not enough. You could be wasting time looking first. A few inquiries a year doesn’t hurt your score. It helps to know if or how you qualify before you look for a house. It’s hard to buy a house without pre-approved. Say that you found one you like but then by the time you get approved it could be gone. Or if you’re approved but not enough. You could be wasting time looking first.

]]> By: Tess http://creditconnectpro.com/when-a-bank-looks-at-credit-score-to-determine-financing-does-it-affect-my-credit-rating/127/comment-page-1/#comment-320 Tess Sun, 20 Apr 2008 22:21:56 +0000 http://creditconnectpro.com/when-a-bank-looks-at-credit-score-to-determine-financing-does-it-affect-my-credit-rating/127/#comment-320 Everytime they look at your report that is 2 points off the score. That is also consider a inquiry which stays on your credit report for 2 years. Too many inquiry can hurt your score and effect you for further credit... Everytime they look at your report that is 2 points off the score. That is also consider a inquiry which stays on your credit report for 2 years. Too many inquiry can hurt your score and effect you for further credit…

]]> By: Soula3 http://creditconnectpro.com/when-a-bank-looks-at-credit-score-to-determine-financing-does-it-affect-my-credit-rating/127/comment-page-1/#comment-319 Soula3 Sun, 20 Apr 2008 15:38:35 +0000 http://creditconnectpro.com/when-a-bank-looks-at-credit-score-to-determine-financing-does-it-affect-my-credit-rating/127/#comment-319 no, it won't hurt it at all... i think it is a myth. no, it won’t hurt it at all… i think it is a myth.

]]> By: Steph http://creditconnectpro.com/when-a-bank-looks-at-credit-score-to-determine-financing-does-it-affect-my-credit-rating/127/comment-page-1/#comment-318 Steph Fri, 18 Apr 2008 03:15:40 +0000 http://creditconnectpro.com/when-a-bank-looks-at-credit-score-to-determine-financing-does-it-affect-my-credit-rating/127/#comment-318 Yes, every inquiry dings you. I'm not sure why, but it does. I used to work with credit reports daily, and people with perfect credit had lower scores, soley because of numerous inquiries. Yes, every inquiry dings you. I’m not sure why, but it does. I used to work with credit reports daily, and people with perfect credit had lower scores, soley because of numerous inquiries.

]]> By: clayjar_azn http://creditconnectpro.com/when-a-bank-looks-at-credit-score-to-determine-financing-does-it-affect-my-credit-rating/127/comment-page-1/#comment-317 clayjar_azn Wed, 16 Apr 2008 02:36:07 +0000 http://creditconnectpro.com/when-a-bank-looks-at-credit-score-to-determine-financing-does-it-affect-my-credit-rating/127/#comment-317 Your credit rating would be untouched. Queries does nothing to credit ratings. So go ahead and talk to banks. Your credit rating would be untouched. Queries does nothing to credit ratings. So go ahead and talk to banks.

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