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Dont get me wrong but new inquiry going to hurt your score.
@nicholasyud wrote:Dont get me wrong but new inquiry going to hurt your score.
- New account wont report after a few week . I dont know why the broker would suggest you do that but if you had someone can add you as an authorize user on their longest CC would be a best option. Nothing lose on this case and your score would be increase if they had long and steady with no late history.
How long would it take for this to post to his CR though?
It probably wouldn't report until a few days after the statement cuts.
@patsfan1453 wrote:
@nicholasyud wrote:Dont get me wrong but new inquiry going to hurt your score.
- New account wont report after a few week . I dont know why the broker would suggest you do that but if you had someone can add you as an authorize user on their longest CC would be a best option. Nothing lose on this case and your score would be increase if they had long and steady with no late history.
How long would it take for this to post to his CR though?
Credit Card company ussually report to credit bureau couple days after your statement cut. Some not report at all if you wont used your card like Credit One in my experience.
I heard some sub prime CC not report to credit bureau about AU but its YMMV. Hope its answer your question.
The inquiry will cause a score drop. Also, some lenders dislike seeing new Apps before underwriting.
Is there anything else you can do that will improve the score? Utilization less than 9% has to be on statement date. Any old late payments where a goodwill adjustment might help?
Cap 1 isn't a company that would typically give a CLI, so that's out of the question.
You may inherit the 5 points next month with no effort at all between average account age slightly improving and the Cap 1 inquiry getting a tad bit older.
Drop your UTIL to 1% if possible it would give you a slight bump most likely.
Man it scares me when people buy homes with less than a 720 mid-score.