2007-11-26 06:54:23 · 5 answers · asked by Ko koa 1 in Business & Finance ➔ Personal Finance
I dont have any outstanding overdue bills. I believe that people are trying access my acct. I dont really have any credit no credit cards no personal loans and no cars loans
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2007-11-26 09:25:42 · update #1
Don't creditor inquiries negatively impact your credit report? If you're trying to get pre-approved and have many different lenders checking your credit history, that could contribute to the drop you're seeing.
2007-11-26 07:03:03 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I believe you can apply for a loan two or three times without affecting your credit score, and after that, it's lowered each time you apply with a new lender. Ask for a copy of your credit report at the last place you applied for a loan so you can make sure that everything is as it should be ... the credit reported is yours, all information is up to date, etc. If you have revolving credit (credit cards), it lowers your score when you are maxed out ... by paying half of the balance on your credit cards, it will improve your credit rating ... credit cards make up a good portion of your credit score, by the way. Also, utilities now report to credit agencies, so make sure that you have no outstanding balances with utilities or you haven't had several shut-off notices. Also, if you are over 30 days late with an installment loan, such as a car payment, that is reported to the credit agencies.
2007-11-26 11:03:07 · answer #2 · answered by Patti 3 · 0⤊ 0⤋
I don't know, but I was recently told that just by applying for credit lowers your score, whether that be in applying for a credit card or applying for other things. And that other person might be right too. About having your credit score checked. It doesn't make sense to me.
Another reason might be that you have overdue debt. And as long as you don't take care of that it will drop your score each month a little more.
2007-11-26 07:20:08 · answer #3 · answered by Anonymous · 0⤊ 0⤋
What are YOU doing to make the score drop ? They don't drop by themselves, absent some sort of financial activity being reported which will cause the drops.
2007-11-26 06:58:29 · answer #4 · answered by acermill 7 · 0⤊ 0⤋
Hi
It sounds like maybe you are not paying bills to get that kind of drop. Maybe you should practice doing that and then work your way up to paying a mortgage.
2007-11-26 07:00:24 · answer #5 · answered by tapnet1 3 · 0⤊ 0⤋