No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
I'm currently looking to buy a house. I got pre-qualified for a loan then started looking. Most of the houses I have looked at are REO's and to put a bid on them I have to be pre-qualified with the bank that owns the house. So now I have 2 inquiries a week apart from April and will likely have a few more before I finally get a house. My understanding is if they are close together they are counted as 1. How much will it affect my score if they are several months apart? Any way to reduce the affect? When I look at my EQ score it says one of the negatives is the fact I am seeking credit. Thank you.
26 Jul 2009
TU 736 EQ 745
If they are several months apart, it will hit your score like a new inq each time. I think anything pulled between a 2 week period counts as one inq. (score wise)
All 8 of the offers we put in were for REO's. It was over the span of 2 1/2 months. If I had to pre-qual with every bank I would no longer be approved because my credit score would have fallen under the min I'm sure, lol. My realtor advised us to put a condition in the offer that if the seller took our offer, we would go through them to get the loan. Dont know if it worked or not, the house we got is being financed by the only broker I went to but it was worth a shot!