2007-10-08 12:56:42 · 4 answers · asked by Anonymous in Business & Finance ➔ Credit
Yes, when you ask for a loan, for example.
If you buy a car, it is better to have a loan from your bank or crdit union and then go to the dealers with it, so you credit will not suffer.
2007-10-08 14:07:33 · answer #1 · answered by wazup1971 6 · 0⤊ 0⤋
Yes, The more inquiries you have entered on your report the lower your credit score goes. The inquiries appear to look as if you are going all over town applying for credit. The new creditor views this as trouble...suppose you are granted credit from the sources of the inquiries? You could become over extended and no longer as credit worthy as you previously appeared.
Be extra careful when apply for credit through car dealerships, they have a tendency to send you application through numerous banks and financial institutions at once trying to get you approved. You could have 3-4 inquiries from one application submitted at the dealership.
2007-10-08 13:26:08 · answer #2 · answered by Michelle D 2 · 0⤊ 0⤋
Frequent inquiries from creditors will lower your score. If you are checking your report, no.
2007-10-08 13:21:16 · answer #3 · answered by bdancer222 7 · 0⤊ 0⤋
Yes.
2007-10-08 13:19:39 · answer #4 · answered by Casey G 2 · 0⤊ 0⤋