topic Re: Does MyFico Treat Credit Apps Like in Credit Cards

Does MyFico Treat Credit Apps Like

ScarletFever — Sun, 18 May 2008 22:22:34 GMT

an auto or mortgage by allowing for several apps within a short time period without being punished? If not, has anyone app'd sevreal times within a week or so period without being killed by the inqs? Where were your scores in your scenario?

Re: Does MyFico Treat Credit Apps Like

Anonymous — Sun, 18 May 2008 22:26:22 GMT

ScarletFever wrote:

an auto or mortgage by allowing for several apps within a short time period without being punished? If not, has anyone app'd sevreal times within a week or so period without being killed by the inqs? Where were your scores in your scenario?

No, unfortunately, credit card apps with different creditors are not deduplicated by FICO, the way that mortgage and auto inquiries are.

Re: Does MyFico Treat Credit Apps Like

ScarletFever — Sun, 18 May 2008 22:28:43 GMT

**bleep**. thought so. I guess I just have to roll the dice and hope that I get approved for at least a couple offers with good credit lines...Thanks.

Re: Does MyFico Treat Credit Apps Like

Anonymous — Sun, 18 May 2008 22:32:59 GMT

ScarletFever wrote:

**bleep**. thought so. I guess I just have to roll the dice and hope that I get approved for at least a couple offers with good credit lines...Thanks.

Keep in mind that with a little bit of research you can avoid applying for cards that you are sure you won't qualify for, and limit your apping to various cards that you will be more likely to get. Also, it's good to know which CRA your creditor will pull so that you can spread out the inquiries among the three CRAs. (Inquiries only count against the score on the CRA that was actually pulled.)

Also, if you have a very thin file and need to establish revolving credit, having a couple of inquiries on your reports is a very small price to pay for the addition of a few new revolving accounts.

Message Edited by cheddar on 05-18-2008 03:32 PM