 If you pay collections off that are on your credit report, does that help any??? |
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 Debit card question ...? |
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 Credit score question? |
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| my bank offered me a credit line 1500.00 w an excellent interest rate the other company i only have a 250.00 limit w very high interest rate if i close that account will that lower my credit score?... |
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 Prepaid credit card????? |
could u pls tell me if prepaid credit card build credit history?
... |
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 Credit report? |
| i owe some money to a credit company if they dont find me for six years is it true the debt is normally wrote off? and when its wrote off is the bad debt also took off your credit record?... |
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| I'm trying to clear up a couple of things on my credit report. I had a couple people suggest to just pay half of the debt. Does it work?and is there negotiating involved. Then what do I do ... |
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Kimber | Does credit denial cause your score to drop? |
I was needing to know if you apply for a credit card and you're denined, does that make your credit score drop. And if it does how many points will it drop? |
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D
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It amazes me of all of the different myths that people have regarding credit and credit scores, and there are so many different factors to determine exactly what does and does not affect someones scores, as well as how it is affected. some inquiries will never affect your score at all. I would suggest checking out the following site and you will be very enlightened as to what is truth and what is myth... Good luck... |
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Chane
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Each time you apply for credit, whether accepted or denied, it counts as a hard inquiry.
The number of inquiries you make counts as 10% of your score according to FICO.
Inquiries remain on your credit report for 2 years, with those in the last 6 months usually given the most consideration. |
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kitkat
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No, but each time someone inquires on your credit it does. |
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themadchef
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Yes. Your score will be affected. It is also affected by the number of inquiries that are made. The number of points is hard to say because they each have their own algorithm which is secret. |
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ATXrealtor
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Yes it does, so try not to run your report to often. Sometimes its just a few points. If your looking for a car or a home loan where your credit is being run allot, dont worry somehow they get rolled in as 1, i.e. if you go to 10 different car lots and all offer you good deals but they HAVE to run your credit, dont worry because all 10 will only hurt your credit as if it were 1, because its all for the same thing. ( this is what my tax guy told me , so its 3rd party, but I think its correct.) Good Luck. |
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Jennifer B
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Not because of a denial, but the simple fact that your credit was checked does. Now lets say you are shopping around for a car and you apply at many different places to find the best rate, that doesn't affect your score much since its obvious what your are doing, shopping for the best rate. But if you were recently denied, I would not apply for anything else for a while and find out what exactly you were denied for. You should receive a letter in the mail as to why you were denied and on that letter, they will provide you with a telephone number where you will be able to check your credit at no charge. Good Luck! |
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amaya7
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The actual denial doesn't make your credit score drop, but the credit inquiries can |
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Etta P
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No, the credit bureaus do not report is an account was declined just if a new account was opened. However alot of inquiries will drop your credit score if there has been many.
Hope this helps |
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maya o
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hey chica! when u get rejected everyone knows about it.ouch...yes it sucks. I do not know why you lose points, its stupid to me but heres a link all about credit:
www.netwealthmedia.com |
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