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rifleman wrote:
I am also confused about how the inquiries effect your score. I applied for new credit earlier this year and did not notice any change in my scores. I recently applied for credit last week, and I guess I'll see how it effects my score next month. My guess is not much, but some people here are very concerned about inquiries and I have yet to discover why
rifleman wrote:
It depends on your overall credit picture. Obviously a thicker file will have less of an impact than someone who is just starting to build credit.
by "thicker file" do you mean Longer history? Or does thicker file mean lots of revolving acounts, installment loans, perhaps a mortgage, and other credit?
@Tuscani wrote:
@Anonymous wrote:
It depends on your overall credit picture. Obviously a thicker file will have less of an impact than someone who is just starting to build credit.
by "thicker file" do you mean Longer history? Or does thicker file mean lots of revolving acounts, installment loans, perhaps a mortgage, and other credit?Thicker simple means more TLs. The current number of Inqs will matter as well. If you already have 50 Inqs.. One more probably won't matter much.
Message Edited by Tuscani on 06-18-2007 09:28 AM
IMO, mix is more important than number.
Yes, and I suppose it's good to have a healthy number of trade lines--what would you say is a good amount of trade lines to have in the "revolving credit" catagorey? 5 cards? 7 cards? 3 cards? Assuming you manage them all responsibly and stay below 9% utilization