There is something in this article that isn't further expounded which is important for you to know regarding hard inquiries. Hard inquiries that occur within two weeks while you are looking for a car or home as one hard inquiry instead of multiple ones. This is called rate shopping and is something you should do. Here are a few more answers from MyFico.
Monday, April 16, 2012
Seven Ways You Can Hurt Your Credit Score
Here is an article from MSN that covers seven ways people will usually hurt their credit score. Here is an excerpt from the article to give you an idea of what people typically do.
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Consumers,
Credit,
Credit Information,
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ReplyDeleteOnly hard pulls affect credit score. They are recorded on credit file indicating riskier credit behavior. Each time hard credit report pull is made, it hits your credit score and causes its drop for 2-5 points. Hard pull is also performed once you fill out an application for mortgage, student auto loan or pre-approved to get a personal loan. For more info please see this post.
ReplyDeleteWell I'd think it's obvious that opening a bunch of credit cards all at the same time is a bad idea, lol. You've just turned yourself into a giant risk if you do that!
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ReplyDeleteAmazing insight you have on this, it's nice to find a website that details so much information .Reference:
ReplyDelete5 Best Actions to Increase Your Credit Score in 60 Days
When Buying a Home, Make Your Credit Score Work For You