Credit Checks
How many credit checks does it take before your rating goes down?
I don't get why it should have any effect if you are trying to keep it clean, and watching it.
Anyone with info that might lend some insight would be helpful.
We believe it is the 3rd inquiry within 30 days which impacts your score.
Eric & Rosa
[addsig]
Hi who_me,
Are you planning to get your credit pulled a lot in the near future?
BAMZ
If you pull your credit yourself from places such as www.myfico.com then it will not affect your credit. It would be considered a consumer pull not used for acquiring credit. When you credit is pulled by an entity that is using it for credit qualification reasons, then it will affect your score. In the case of mortgages and automobiles, you can have your credit pulled my multiple firms within the "same" SIC code and not have it affect your credit so long as it is done within seven days of the first pull. If had your credit pulled on the 1st, two times on the 3rd and on the 7th, you would be ok. If it were pulled again on the 8th, this would affect your credit. Remember that the entities pulling your credit must be classified as the same type of entity, such as mortgage firm or auto dealership. If you go to a mortgage company, a auto dealership, a furniture and a credit card firm all in the same week, this would beat up your credit and raise red flags all over the place.
Never, never, never use more than 75% of your credit line, 50% is the preferred, and 35% is the "ideal".
These are tips I have gathered over time talking to "credit managers" and 800+ FICO score individuals.
I hope this helps.
Phil
See my profile for contact information.