Is it true that when you apply for credit cards and such and get denied that it messes up your credit?
2006-12-26 18:31:44 · 5 answers · asked by Miss Carmel 1 in Business & Finance ➔ Credit
Best thing to do is to preserver your credit by making absolutely only neccessary inquiries for credit items.
However when shopping for cars and homes you can get unlimited inquiries within a 30 day window without having negative impact on your score by having multiple credit inquiries.
2006-12-26 23:04:19 · answer #1 · answered by CreditScoreBooster 2 · 0⤊ 0⤋
I wouldn't say "messes" up, like ruins, but it does affect it. But so what? how else are you going to get a house or car without having a bank check your credit? They are just trying to limit multiple requests, for example, 10-12, makes you look desperate for credit. Try applying for credit only once or twice a year and you'll be ok.
2006-12-27 00:43:37 · answer #2 · answered by Kevin K 3 · 0⤊ 0⤋
I am not sure about how many times you get denied, but I do know that everytime a company does a credit check on you it does knock down your score.
2006-12-26 18:35:29 · answer #3 · answered by court_reporter_in_training 1 · 0⤊ 0⤋
It can but make sure it is not many like twenty or something. You must be doing something wrong when applying if you are getting knocked back. Have you thought of a debit card or small loan or even savings to help with your applications.
2006-12-26 18:44:02 · answer #4 · answered by SEO 3 · 0⤊ 0⤋
Having too many inquiries into your credit does have a negative impact on your score although its not greatly significant.
2006-12-26 18:39:13 · answer #5 · answered by QandA 3 · 0⤊ 0⤋