Uninformed People

[codedoctor]

I saw a post on another forum (MSN) where someone was ranting and said "why is it when you apply for credit and you are denied it hurt's your credit score?" I assume he is referring to the denial as hurting the score rather than the application itself.

Surely this is incorrect?

[Edited to remove a comment with political overtones.  Discussion of politics is not permitted on the FICO forums. - Lel]

Message Edited by Lel on 08-28-2009 01:17 PM

[codedoctor]

well, actually, there were no political undertones. At least, none that swayed to any discernible direction, right or left, or up or down. My point is that in so many aspects of our daily lives, in which we obtain information on many different subjects, from many different people, and many different sources, are so riddled with misinformation and even disinformation willfully propagated, that it is a wonder how rational people people can have reasonable discourse.

[llecs]

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codedoctor wrote:

I saw a post on another forum (MSN) where someone was ranting and said "why is it when you apply for credit and you are denied it hurt's your credit score?" I assume he is referring to the denial as hurting the score rather than the application itself.

Surely this is incorrect?

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Whether you are approved or denied, the inquiry itself from the app can hurt your FICO score. If approved, the new credit account may hurt your score too.