10-31-2007, 02:06 PM
|
#1 |
|
Piggy Bank
Join Date: Jul 2006
Posts: 80
Rep Power: 6  |
Credit Inquiry 14-day Limit?
According to this post (http://answers.yahoo.com/question/index?qid=20061210142207AAPbk0c) , multiple inquiries in any 14-day period are counted as just one inquiry.<br /><br />Does this apply to credit cards?<br /><br />If so, are asking them to lower interest rate, to raise balance, or applying for a new C/C considered "same type" of inquiry?<br />
|
|
|
|
10-31-2007, 02:06 PM
|
#2 |
|
Greenhorn
Join Date: Jul 2006
Posts: 11
Rep Power: 0 |
Credit Inquiry 14-day Limit?
I didn't check the link but it's probably for a mortgage or car loan. Reason it only counts as one is because it's obvious that you are shopping for one loan.
No it does not apply to credit cards. If you have multiple credit inquiries from credit card companies in a short period, it will take a major bite out of your score. |
|
|
|
|
10-31-2007, 02:06 PM
|
#3 |
|
Greenhorn
Join Date: Jul 2006
Posts: 27
Rep Power: 6 |
Credit Inquiry 14-day Limit?
The credit bureau risk score models observe inquiries over a 12-month period. Auto- and mortgage-related inquiries that occur 30 days prior to scoring have no effect on the score. Outside this 30-day period, auto- and mortgage-related inquiries that occur within any 14-day period are treated as a single inquiry because people usually "shop" around to get the best rate. This is called De Dupe Logic. This does NOT apply for inquires for credit cards. Each inquiry for a credit card is considered one hard inquiry.
|
|
|
|
 |
| Thread Tools | |
|
|
