Okay, that probably sounds like a stupid question, but I read that the number of inquiries about your credit can affect your credit score. It said "This includes promotional inquiries such as solicitations." Since my credit card offers say I'm "pre-approved" based on my credit score, I'm assuming that means they have made inquiries.
So, anyway, thanks. :)
2007-09-02 17:15:42 · 12 answers · asked by Anonymous in Business & Finance ➔ Credit
Btw, I'm not actually asking for or getting the cards, I'm just wondering about the inquiries.
2007-09-02 17:25:48 · update #1
Promotional inquiries are "always" soft inquiries - soft inquiries do not hurt you since the only one who sees them is you and they are not used for credit scores.
Hard inquiries are done when you apply for credit.
Hard inquiries will hurt, how much would depend on how thick or thin your credit file is.
If your credit file is pretty thin, few accounts with not much age, then the inquiries will hurt more.
The inquiries will have less of an impact around 6 months and generally no impact at one year (an underwriter.may notate inquiries that are longer than one year)
2007-09-02 17:25:06 · answer #1 · answered by echo 7 · 6⤊ 1⤋
The banks sending you credit offers have not actually pulled your credit report. There is no inquiry on it. What they do is buy a list of addresses from the credit bureau based on some criteria (a credit score) and mail the offer to everyone on the list. You can opt-out of these mailing by sending a form to the credit bureaus.
There are local banks that send it to every address in the neighborhood. There is no inquiry just an offer.
If you respond to the offer, then you'll go through the approval process with an inquiry pulled. Even the pre-approved offers are not really a guarantee - it's a pre-approval to apply in theory and they have you fill out a short application that you send in to actually get approved. Mostly they approve but sometimes they don't.
.
And in case people want to opt out of offers, do this
http://www.ftc.gov/privacy/cred-ltr.htm
and it's good for 5 years.
2007-09-02 17:47:57 · answer #2 · answered by gogo7 4 · 1⤊ 0⤋
The problem that I had faced was getting these pre-approved offers. Really, why get them in the first place and have them delivered in your mailbox. Then some crook drives by gets your mail and pretends to be you when filling out these offers. I tear them up in little pieces, write the company requesting to be taken off their mailing list, and return every thing to the company using their business reply envelope. Also, I called and got place on the Opt-out program. I still get a pre-approved offer once a while but not as many as before.
2007-09-03 00:34:08 · answer #3 · answered by Gary 5 · 0⤊ 0⤋
Yes it will. The more credit cards you have, the worse your score will be because every time you get a new card, they run your credit and this is a "hard" check and hurts your score. In addition, you will have more and more credit capacity and at some point, this will ccount against you as well.
2016-05-19 23:06:05 · answer #4 · answered by ? 3 · 0⤊ 0⤋
The fact that you are getting offers means your credit is good. Otherwise, the big credit card companies won't make the offers. The offers have no effect on your credit rating.
2007-09-02 17:26:06 · answer #5 · answered by Anonymous · 1⤊ 0⤋
The cards you are "pre-approved " for do, not effect your credit score. The credit you APPLY for does effect it. If you apply for six cards it will show up as a negative and lower your credit score. Also, if you max out your credit cards, that shows as a negative. Lenders like to see some one who can handle their credit, and if your cards are maxed that is not a good sign!
2007-09-02 17:24:11 · answer #6 · answered by lola girl 2 · 1⤊ 1⤋
those do not hurt you....... if you personally inquire that is what hurts your credit score........ college students signing up for credit card offers for free subs or pizza hurts their credit scores...applying for store cards hurts your score.....even if you get DENIED!!!!!!!!!! pre-approved is not always the case my friend was pre-approved but got denied......
2007-09-02 18:22:36 · answer #7 · answered by suesue 5 · 0⤊ 0⤋
They can offer all they want as long as you are not applying for them, they don't even register.
2007-09-02 17:22:13 · answer #8 · answered by Anonymous · 1⤊ 1⤋
as long as you don't respond, or "apply" to them, you'll be fine!!! They will send you a "pre-approved" letter every week!!! Ignore them!!!!!!!
2007-09-02 17:19:22 · answer #9 · answered by FLguy 1 · 1⤊ 1⤋
no but it can help your credit if you keep up with your bills.
2007-09-02 17:18:36 · answer #10 · answered by missjay 2 · 0⤊ 1⤋