 How is the credit crunch affecting your spending? |
are you going out less?
spending less on food shopping?
buying less luxeries?... |
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 VERY Wrong!??!?!?? |
| When I bought my house and I went to get my loan from a mortgage company, the lender ran my credit 22 TIMES!!!! Every time you run someones credit it takes away points, so I went from a really good ... |
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 Do anyone know how much 413,000,000,000,000,000 is? |
| there is supposed to be some sort of website dedicated to this kind of stuff... is anyone familar with it? please let me know if you do its worth extra credit on an exam that i despritely need.. ha ... |
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 I want to cancel 2 credit cards...? |
| There are no balances on these cards and I have others. A friend mentioned that if I do that my Fico Score will go down. Is that true??... |
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 I'm getting a credit card for the first time; what should I get? |
| I'm 18 and I'm getting my first credit card. I'm enrolled in college. I just want the best credit card. I just need to start getting credit.... |
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 Is a bank account needed to cash checks? |
I work for a large retail company and the checks given out are by the main company head quarters. I don't have a bank account so I was wondering if it is possible to cash checks at ANY bank.
... |
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 Is It Advisable To Have Two Cradit Cards At The Same Time? I Plan On Doing So? |
| Is It Advisable To Have Two Cradit Cards At The Same Time? I Plan On Doing S... |
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 Credit Card? |
| Hello. I got a question about credit card companys. Or why this is happening? My huband has had 3 loans. A truck loan which was a 3 yr loan that we paid of in 2. A personal line of credit that we ... |
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 Can they leagally do this? |
| listen to how my freind caught me using his credit card first off he pissed me off because he did something cruel. i will not mention i then in hand stole and used his credit card he went to the ... |
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 Will we be able to get a mortgage, she has great credit, I don't? |
| My fiance and I are looking at the possiblity of getting a house. She has great credit (700-725 range) but a senior in college so not earning an income. I have a good income but my credit is, well, ... |
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 If you cancel one of your credit cards but have made every payment on time, would your credit score go down? |
| how long does it take for someone to have really good credit...do you need 2 buy a house or car or anything major like that to make it higher??... |
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 Can credit card companies put a lien on social security checks in Ohio? |
| I am on a small disability, can credit card companies take my checks each month, its the only income I have, I live in O... |
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Cindy S | Does applying for credit cards and being declined affect your credit scoring? |
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finch
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No it doesn't.
When someone applies for your credit rating using one of the databases such as Equifax, there is a list at the bottom of all the companies who have requested a credit check on your name previously. It does NOT give the outcome of their decision based on the results the credit check has given them.
The credit check is only for information, you can't see other companies decisions. However, if someone can see there have been a lot of checks by money lenders for example, they might wonder why and be less inclined to offer you a loan.
You can ask for a copy of the details e.g. Equifax keep on you to see what your rating is. |
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pj
 |
Yes it does, i know it all goes onto your credit file. |
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thecoldvoiceofreason
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You dont really have a score as such, all the reference agencies have is lists of your accounts and how you've maintained them, a lender will see how many applications you've made recently and if you have a whole bunch of them they may ask why. |
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demure-manure
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no but if you are refused credit, future lenders can see this and may ask you why |
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thebald1
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yes it does, check out your credit rating by asking them why was I declined, and check all the spelling of you name and the address is correct |
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tennessee
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no it does not. but you do have the right when you have been declined for a free credit report. Al so a inquiry dings your credit whether you get credit or not! take care and God bless! |
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jimmyjohn
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Yes. Each time you apply for credit an "inquiry" is placed on your credit history. Too many inquiries can affect your score on a fairly big way, sending up red flags to potential creditors. The inquiries stay in your file for about 3 years. When you apply for a car laon or a house loan, multiple inquiries within a short period of time (related only to the car or house purchase) count only as one inquiry. |
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Adam S
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Any time you apply for credit and you are turned down it does affect your credit slightly. Although it really depends on how many times you apply and are turned down. If you only apply a few times a year you have nothing to worry about, but if you apply several times it will flag your credit and it is lowered because of it. |
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caroline b
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Although it doesn't, it does affect the ability for you to get credit. When doing a credit search on a person you can see how many times they have applied for credit - being declined will therefore affect their trust in you. |
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Ruth
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In the UK it does. each application leaves a footprint on your credit file. |
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crawdash
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yes it does it goes on your credit file as many times as you apply not just once |
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Mark J
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Yes because you are being refused credit. You probably have a bad score already. |
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$m¤¤v¥ £¤¢¤
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It absoultely does. Here's how your credit score is broken down:
35%- payment history
30%- total debt outstanding
15%- length of time you've had credit
10%- types of credit
10%- inquiries and new credit
Each inquiry deducts around 2-3 points EACH TIME YOU APPLY. Let's say for instance you applied for 3 credit cards and a department store card. That's 10 points off your score right there. And what makes matters worse, those inquiries don't go right away, either. It takes about 2 years for those to fall off your report. If you're really needing a credit card, my suggestion is to get a secured credit card. These are the easiest, but most costly becuase you have to put a deposit upfront to secure the same amount in a line of credit. But this isn't always a bad thing. A couple of benefits are the fact that you can set your own limit and the deposit gains interest. I had one once where I took my tax return and some money I had saved for about 6 months and got a secured card. I deposited $7,500, which was my credit line. I purchased items with it I knew I had the cash on hand for or that I knew that I could pay off in full, on time before the statement closed. I did that for about 9 months to a year. Not only I got my deposit back with interest, now I had an unsecured card with a $7,500 limit as well. I sent some links to some secured credit card companies that might help you out. |
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santhosh k
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i think no |
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Nomio
 |
yes |
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