Archive for February, 2009
The Scoring System Allows For
The scoring system allows for unlimited inquiries during any on fifteen day period to count as one. In this way the system allows borrowers to do due diligence in shopping for credit without being penalized. My understanding is that the unlimited inquires within the 15 day period is only if it is a mortgage or [...]
The Scoring System Allows For
The scoring system allows for unlimited inquiries during any on fifteen day period to count as one. In this way the system allows borrowers to do due diligence in shopping for credit without being penalized. Tags: Credit, coun <BR/>
The Inquiries Must Be For
The inquiries must be for the same purpose for them not to count against your credit score. If you apply for a mortgage but then apply for several credit cards and a car loan the inquiries will be treated as separate and probably will adversely affect your credit score. Tags: credit cards, mortgage <BR/>
The Fair Credit Act
The fair credit act allows up to five credit inquiries when refinancing your home before your fico score drops. Tags: financing, refinancing, Credit, score <BR/>
Inquiries Only Account For
inquiries only account for 10% of your credit score, but inquiries can lower your score enough to put you in a different credit tier that may increase your interest rate or reduce the maximum loan-to-value that you can receive. Tags: interest rate <BR/>
To Many Inquires That
To many inquires that count against toward your fico can prevent you from refinancing or purchasing a new home Tags: coun, financing, refinancing <BR/>
Credit Report Inquiry’s Are Removed
credit report inquiry‘s are removed after two years. If you have an extremely high number of credit report inquiry’s that are close to two years old your score should increase when they are removed from your credit report. Tags: score, report, credit report, Credit <BR/>
Not All Inquiries Count Toward
Not all inquiries count toward your fico score. When you check your credit report, you may notice that a number of credit inquiries have been made, sometimes from businesses that you don Tags: coun, Credit, score, credit report <BR/>
It Is Ok To Have Some
It is ok to have some inquires on your credit report when shopping for a mortgage. You need to shop around to protect yourself from high cost lenders. Tags: mortgage <BR/>
Your Credit Score Can Decrease
Your credit score can decrease if there are an excessive number of inquiries. Each time you apply for credit, the lender will make an inquiry to establish your credit score and profile. Tags: Credit, score, lender, credit score <BR/>
