CRA inquiries

Discussion in 'Credit Talk' started by derick, Aug 27, 2000.

  1. derick

    derick Member

    What is the deal with inquiries. If I apply for a card and get turned down, how does this affect my credit reports and does it get recorded forever if at all?

  2. Creditinsi

    Creditinsi Guest

    Inquiries remain on your credit report for a period of 2 years, if you get turned down by a creditor I would recommend that you look at your credit report, then review and understand the reason (s) that you got turned down and then work on repairing these items, I do not know your credit situation so I can not give further advice but best of luck to you.


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  3. RichGuy

    RichGuy Guest

    I recently got my first decline letter ever to mention inquiries as a reason. All my preapproved offers were generating inquiries, even though I got approved.
  4. RichGuy

    RichGuy Guest

    Inquiries stay on your record for 2 years, but they only affect your score for 6 months, or a year at most.
  5. Doris K.

    Doris K. Well-Known Member

    That's the way it's supposed to work; however, banks will use this excuse when they can't think of any other reason to decline an application. If they want, one inquiry over a year old can be considered excessive.
  6. Crdt Dfnse

    Crdt Dfnse Well-Known Member

    Just Thought Iâ??d Share Thisâ?¦

    You know itâ??s funny but one of my sisters is a regional VP for Bank of America. On a certain occasion we were joking around about how lenders approve loans (playful chit chat), yet she made a statement thatâ??s very tellingâ?¦ â??Bankers [lenders] look for reasons not to make a loan, and only grant [credit] when they canâ??t find one.â?

    Keep The Faith,
    Anthony Villaseñor

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