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The rule of thumb is not to inquire about your own credit history, unless that you have to: such as car loan application, mortgage application. Each time you check your credit history, there will be permanent record inquired by whom, at what time. Such information given the bank or financial institution that you are doing multiple applications for one deal. That is fine. Nothing wrong with it. However, if credit inquiry has exceeded 7 or 8 times in the past 24 months, there is a HIGH LIKELIHOOD that your beacon score will go down dramatically. This is not too bad for mortgage application. However, if it is for seeking unsecured credit, such as credit card, personal loan unsecured, you are likely pay a much higher interests rate due to lower beacon score as a result of frequent credit inquiries. More inquiries give the lenders the message: you are seeking credit very badly, or you are not a loyal customer. So bank's risk model may charge you a relatively higher interest rate based on the risk factor, or even decline the application if the beacon score is lower than a certain number. This is the general rule. So don't be too curious about your credit score, it is just a bench mark banks use to underwrite for credit. The credit report in your hand helps somewhat, but each application of credit, banks always require new credit report, that counts as one inquiry each time after pulling online. |
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楼主: 加拿大历险记
狗仔卡
发表于 2013-12-9 21:17
显身卡
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