"Don't apply for credit unless you truly need it, because you don't want to have a whole bunch of inquiries that are lowering your credit score unnecessarily," says Khalfani-Cox. This is especially true if you're planning to apply for a big loan soon, like a mortgage.
These requests are often referred to as "hard inquiries" or a "hard pull" on your credit history. They can negatively impact your FICO score for up to a year, since excessive requests for new credit can be a red flag about your trustworthiness as a borrower.How much credit you have available compared to how much you actually use is known as your credit utilization ratio, and it makes up 30% of your credit score.
This happened to Khalfani-Cox shortly after she achieved a perfect credit score. She had just paid off a mortgage loan and her score subsequently dropped by seven points, down to 843 from 850.
MakeIt Their is something seriously wrong with you if you have perfect credit scores. Best credit scores are those between 780 and 810. Intentionally manipulating credit scores means if impacted by a negative externality you might end up at other end of credit score.
MakeIt Aiming for a perfect score is a waste of time and energy, don't be foolish Home lending terms don't change above a 740 FICO, your interrst rate isn't helped by having any higher of a score
MakeIt Looks a lot like Big Mike
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