ajg wrote:
Hello everyone. I'm a student with a decent credit score and enough credit for me right now. I've been reading about some of the things that might decrease you scores or not effect them at all. One of the pages on this sites says that credit inquiries from business that you already have an account with won't reflect on your score. I need to know if I have this correct. I have an American Express card. I would like to apply for a Delta Skymiles Amex. Since I already have an Amex, will this inquiry effect my FICO score at all because I already have an Amex? Or very minimally? Thanks for any help! -A
There are two types of inquiries, hard and soft. Hard inquiries are created whenever you apply for new credit, loans (including auto), mortgages, Helcos and etc. These type of inqs can be viewed by your current creditors or new ones when you apply for something new. These are factored in your scores and too many of them will lower your scores.
Soft inqs are only viewable by you. They include reviews of your credit report by your existing creditors and potential companies who might want offer you something like a new CC as well as your soft pulls whenever you check your reports. These types of inqs do factor in your scores.
If you apply for a new Amex card, they will pull a hard inq, regardless if you have accounts with them. Also, FYI if you ever want a CLI, do it online and they will not pull a hard inq.
