Repair Credit Score

Archive for November, 2009

Commander Keen 5: Armageddon Machine - High Score Table

Question: does a Credit Score inquiry impact my Credit Score?

I want to shop for the best (lowest) rate. My Credit Score is 800+ but I am told I have to allow my credit to be "run" in order to "quote" most rates. Does running credit lower a Credit Score, or is this subjective and based on interpretation?

Answer: To add more to OC9999s answer, to allow for rate shopping for mortgages and autos only...there is what is called de-dupe logic. This means that credit can be run many times for these types of purchases within a 14 day period and will only be counted as one hard inquiry. I have included a link in the sources area that will not only explain de-dupe logic, but how Fico scores come about. It does not give the exact formula in how Ficos are determined, but does give a general explanation.

Interpretation of Sanctimony Heading Mexico

Question: Can renting an apartment help me to develop credit scores?

I make my payments (credit cards, cell phone, car) ON TIME, using my social security number, but I think it is not quite enough. I am a 20-year-old and I did check my score and it was 740. But...I could say that I am a "greedy" person, which makes me think on how to raise my credit scores as nearly perfectly as possible.

Answer: Things like rent, utilities, cell phones and gym memberships are not considered credit so are not reported to the bureaus unless you default and they go to collections.

So your car and credit card payments are the only things that are helping you.

Just keep making your payments on time and keep you usage on your credit cards below 30% and you will be fine.

8th FreeCreditReport.com Commercial - Cell Phone