Re: credit points
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Posted by Barry E.
on October 17, 2000 at 16:05:36:
In Reply to: credit points posted by David Brandt on October 17, 2000 at 16:03:11:
It's done everyday....you apply for credit...a
report is obtained and noted on your
credit report...
now you go and do this two or three times.... and
finally you want to make a big purchase with a
loan....the loan agent has no idea if you have
received credit from all the inquries that you
have...which could lend the agent to lookout for
the best interest of the lender and push your
application aside for someone that might not be
trying to pull something....even if you didnt receive
any credit from anyone....the new lender doesnt
know this....many times it might take 90 days or
more for a new account to begin showing on a credit
report....so bottom line....apply for only the
credit you need!
Note: General
inquiries by companies looking at
your report for future credit offers dont show on
the reports given out ...only you get to see these
...so dont panic if you see these...creditors only
see what you have applied for.!
: I was told that each time a creditor receives a
: credit report that I lose credit points, i.e,
: damage my ability to receive credit.
: Does anyone know why this is so? It doesn't seem
: logical.
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