Moderator Emerita
Posts: 28,098
Registered: ‎04-01-2007
Re: Mortgage docs - explanation of inquiries ??
[ Edited ]


cardmaster wrote:


...All o fhte new accounts originating from the inquiries are showing on the CRA's so I'm guessing they're factored into my score...?

If they're on your reports, they're in your score.


Mortgage lenders would rather not see new accounts right before a mortgage app, as you are discovering. And they did result in a score drop for new accounts. Not the end of the world, though.


If you're doing the final tweaking of scores, be sure that all but one of your cards reports $0, and the remaining card reports something tiny, like $10 or $20. Then be sure to pay that off before the due date, which is easy to forget. To control the amount that reports, just go online and pay 4-5 days before the statement date. For your HSBC card (and Orchard or US Bank cards if you have any), do this 4-5 days before the last business day of the month, because these cards report your balance as of then, instead of as of the statement date.

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007