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There are two types of credit inquiries that will show up on your credit bureau record: 1- promotional inquiries -- pro-active inquiries on your credit history from credit-granting firms performed without your consent. These do NOT negatively impact your credit score as you have no control over this factor. 2- regular inquiries -- these are the inquiries on your credit history that are generated by your requests for credit (e.g., re-financing a mortgage, getting pre-approved for an auto loan, opening a new credit card, increasing credit limit on an existing card, etc.). Note that these inquiries will post to your account regardless of whether or not you subsequently accept the offer of credit. For example, if you ask to be pre-approved for an auto loan / lease, they will run an inquiry against your credit bureau record which will show up on your history even if you decide not to go with the financing. The same is true for requests to increase your credit limit, the inquiries will post even if those requests are denied. These inquiries COULD negatively impact your credit score if the number of recent inquiries (credit granting institutions define recent as <6 mos to <24 mos depending on the firm) exceeds a certain threshold which they've selected. Other often-overlooked factors that will be examined are the # of open tradelines (term for # of credit facilities on your credit bureau including credit cards, overdraft protection on your checking account, mortgage, car loan, computer/tv financing, student loans, etc.), debt-to-income ratio, available credit to income ratio, age of oldest open tradeline, age of oldest tradeline, etc. Then expect the usual array of metrics looking at delinquencies, defaults, legal judgements, etc. Hope this is helpful.
:: how jedi are you?::
sorry. I'm not a smurf pimp any more. (n/m) - sbsTT(MD) 00:00:18 02/07/02
It will suck back in a little on each pulse >> - AshsZ (Fab Whore, GED) 16:07:22 05/20/02 |
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