Credit Card Center Advertiser Disclosure†
07-09-2007 06:54 PM
07-09-2007 06:56 PM
bl00dymary wrote:To apply for credit ? I notice a lot of posts about credit apps, but don't the inquiries hurt your score? How much does an inquiry drop a score on average, and what is considered a good time frame to space them out? Also. I recently bought a car and they hit me with quite a few inquiries for that- do they all count as one? Is it a good idea to apply for cards now -will they all fall into the grace period and seem like part of the car loan inquiries or are they reported differently?
07-09-2007 07:02 PM
07-09-2007 07:08 PM
Ha! Do you know your three FICO scores? Any derogs on your reports? Do you have any CCs, if so, what are they and give CLs and balances on each?
bl00dymary wrote:Sure, give the noob a link to the faqBut how often would you suggest applying for new credit?
07-09-2007 07:11 PM
07-09-2007 07:17 PM
When auto or home shopping you will see all the inqs on your reports but FICO says they will count all of them as one. Sometimes your scores will get dinged with a new inq or new CC TL reporting but not always.
bl00dymary wrote:I see.. So I can expect my score to drop in about a month from the auto inquiries. I guess I will have to wait & see. I thought it would be a good idea to apply for a new card or two during the two week time frame- I guess I messed up there because apparently they reprt differently? I just applied for two (one approved & one declined). I hope I did not over do it. I am looking at my inquiries now and there is a lot of them from the past week.. most of them car loan related though. So will that be three actual 'hits' in all (two for the cards and one for the auto related)? Is that how it works? Did I over do it in your opinion?
07-09-2007 07:19 PM - edited 07-09-2007 07:20 PM
07-09-2007 07:26 PM - edited 07-09-2007 07:28 PM
07-09-2007 07:26 PM - edited 07-09-2007 07:36 PM
dog wrote:bloodymary (and i will not go into the bathroom, shut the door, and say your name three times into the mirror),That's "red rum" you dork!!! Dog you crack me up!B Mary,Keep and eye on your reports, it always helps to know (or try to guess) where the pulls are going to happen. For example, I know that I only have 2 inq on my TU report in the last 12 months. However I have 4 on my Ex and 3 on my Eq. I'm not currently going to apply for credit, but if I were, I'd find a cc that pulls from Tu.~lori
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.