CRA Scores

Discussion in 'Credit Talk' started by Gliz10444, Mar 29, 2001.

  1. Gliz10444

    Gliz10444 Guest

    I would like to know if you apply for credit and your request is denied, will it bring down you scores?
  2. sam

    sam Well-Known Member

    If you apply for credit, it will bring down your score. Denied or otherwise, inquires are inquiries.
  3. Darrell

    Darrell Guest

    This is a safe way to think, but not necessarily a correct way. I get this directly from
    the horse's mouth -- Fair Isaac:

    "A common misperception is that every single inquiry will drop your score a
    certain number of points. This is not true. The impact of inquiries on your
    score will vary â?? depending on your overall credit profile. Inquiries will usually
    have a larger impact on the score for consumers with limited credit history and
    on consumers with previous late payments. The most prudent action to raise
    your score over time is by applying for credit only when you need it."

    Bottom line: People whose files already include negatives or other signs of trouble
    get penalized for inquiries to a greater degree than people who have lengthy histories
    and no negatives.
  4. breeze

    breeze Well-Known Member

    All they know is that someone (a company) checked your credit. They do not know why, or the outcome of the inquiry. It is best to keep inquiries to a minimum. I stick to one a month.


Share This Page