MidnightVoice wrote:
Zero is best
1 acceptable
2 borderline
3-10 - bad
over 20 - addiction raises its ugly head
Message Edited by MidnightVoice on 04-21-2008 06:53 PM
over 40 - you get a brand spanking new building....the ConcordUserCenter, isn't it called these days?
atlast....one INQ on two CRA's, none on the third...of course, with these scores why would I bother apping?
The more you have, the less new ones hurt. It's only a small fraction of the scoring formula, probably about 7% from what I can figure out. They stay on your report for two years but they only use the last year for scoring. Some lenders like Citi, only count the last 6 months. IMO, if you are planning on buying a home in the next year or two, stay away from applying for anything. If you aren't, apply away, it's not going to hurt your score that much and if it does, it will bounce back. Some people say apply for the credit you need, I say apply for the credit when you can get it, so you will have it when you need it. I have 60+ inquiries each on all three of my CR's....lol. So they obviously don't bother me much. 