I applied for a eq line of credit . The bank want to place all my debt in the loan . I disagree because some of my debt has a much lower interest rate than what the bank is offering. I probably won't get the line of credit because I can't agree to their terms. Since I changed my mind ,will it hurt my credit score??
2006-10-12 10:58:13 · 5 answers · asked by Steve X 1 in Business & Finance ➔ Credit
If the bank already ran your credit to get the equity line started, meaning you were approved, it hurts your fico score. To answer your question , no. beacause you didnt use it, but you got dined for the bank checking your credit.
2006-10-12 11:04:01 · answer #1 · answered by Anonymous · 0⤊ 0⤋
You're within your right to transfer only some balances to the line of credit. If a bank tells you it all or nothing, they are disreputable and I would change my bank.
-MM
2006-10-12 14:35:55 · answer #2 · answered by Anonymous · 0⤊ 0⤋
no person is many times going on with. the business enterprise that generates the score, FICO, won't launch the formula, because of the fact it rather is how they make their funds. The formula is somewhat complicated. it rather is predicated on the scores of alternative customers as properly as your guy or woman credit record.
2016-12-26 17:45:14 · answer #3 · answered by Anonymous · 0⤊ 0⤋
No, unless they revealed something new and negative, previously not known to the credit reporting agency.
2006-10-12 11:04:50 · answer #4 · answered by The Advocate 4 · 0⤊ 0⤋
get free credit assistance from http://www.ezcreditrepairsolutions.com
2006-10-15 08:42:48 · answer #5 · answered by sarell 6 · 0⤊ 0⤋