cancel
Showing results for 
Search instead for 
Did you mean: 

Inquiry before closing

Highlighted
Established Contributor

Inquiry before closing

We are a few weeks from closing. Cell phone broke, need a new phone and eligible for a new plan. Verizon does credit pull to get a phone and contract. Not worried about potential score drop for an inquiry, just the fact that there is a recent inquiry. LO says it's ok. I'm interested in other opinions though.

 

 

Message 1 of 6
5 REPLIES 5
Highlighted
Valued Contributor

Re: Inquiry before closing

Worst case scenario they make you write a letter of explanation. Easy, I broke my phone and needed to be able to answer your calls asking for a letter of explanation for the inquiry. Smiley Happy

I've got some cards, got my house and got some scores with a 7 in front. Now what? Oh yea, live some of that life stuff.
Message 2 of 6
Highlighted
Super Contributor

Re: Inquiry before closing


@compassion101 wrote:

We are a few weeks from closing. Cell phone broke, need a new phone and eligible for a new plan. Verizon does credit pull to get a phone and contract. Not worried about potential score drop for an inquiry, just the fact that there is a recent inquiry. LO says it's ok. I'm interested in other opinions though.

 

 


If your LO says it OK then you should be fine.  But if you are worried, get a cheap disposable one and once you close you can move onto a better phone.

Message 3 of 6
Highlighted
Valued Contributor

Re: Inquiry before closing

it will not be an issue.  they will probably update the Inquiry document and you will have to resign...i think on that document, you will explain it there.

 

there's nothing to worry about...you didn't apply for new credit.

AmEx Green NPSL | Amex BCP 16K | Citi Simplicity 10k | Discover IT 9K | Chase Slate 7.5K | Amex Hilton HHonors Surpass 7K | Capital One QuickSilver 6K | Home Depot 5k | Chase Freedom 4.5K | LOC 2.5K
Message 4 of 6
Highlighted
Senior Contributor

Re: Inquiry before closing


@Yes-Its-Me wrote:

@compassion101 wrote:

We are a few weeks from closing. Cell phone broke, need a new phone and eligible for a new plan. Verizon does credit pull to get a phone and contract. Not worried about potential score drop for an inquiry, just the fact that there is a recent inquiry. LO says it's ok. I'm interested in other opinions though.

 

 


If your LO says it OK then you should be fine.  But if you are worried, get a cheap disposable one and once you close you can move onto a better phone.


That's what I would do. 

Message 5 of 6
Highlighted
Established Contributor

Re: Inquiry before closing

So what kinda phone ya gonna get?

Message 6 of 6
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.