Posts Tagged ‘Applications’

Q&A: Does the following apply for credit card applications also?

Posted in Apply Credit Card on 10/23/2011 09:18 pm by admin

Question by vikasintl: Does the following apply for credit card applications also?
I read following somewhere …
“hard inquiries (the ones that show up when you actually apply for credit) only affect your score after 2 weeks. The formula for your credit score excludes the number of inquiries that you have had over the past two weeks. The credit bureau got wise to the fact that people apply for credit at a lot of places at once and that their score shouldn’t suffer because of it.”
Does this apply towards our credit card applications also ..I thought it only applies when we compare rate with various auto or mortgage companies..does this apply for credit card companies as well?

Best answer:

Answer by latebreakfast
I can tell you from experience, that you never know when it’s gonna report to the credit reporting agencies.
It could land on there the next day. It just depends on when THEY do their updating.

The more you apply for, the lower your score goes. Inquiries stay on for 2 years.
Don’t apply for credit more than one time a year.

Read the fico message board for more info on scoring.

http://ficoforums.myfico.com/fico/board?board.id=ficoscoring

What do you think? Answer below!

 

JunoWallet GiftCards – An iPhone Gift Card Application

Posted in Tech on 12/06/2010 04:06 pm by admin
junobe asked:


JunoWallet stores your gift card information securely on your mobile device. It automatically updates the balances of cards that support online balance access on the iPhone and iPod Touch, or sets up one-touch speed-dial contacts on the iPhone for cards that only support auto-attendant phone access. Please visit www.junobe.com for information about Junowallet and other applications from Junobe.

Diane

 

Will a couple screwups with my credit early in my life (age 18) weigh me down in the long run?

Posted in Credit on 04/29/2010 01:20 pm by admin
Marissa asked:


Here’s the deal.

I had just turned 18 and sent in at least 7 applications for credit cards before knowing it was bad for credit.

One time I went over my credit limit on one credit card and paid the fee and never had it happen again. (this was my 3rd month of owning the card).

I had 3 credit cards from major companies to begin with and got rid of one after problems with the company (Capital One) an my dad has me as an authorized user on his Shell Gas Card. I was an authorized user on my moms Old Navy Card.

Will keeping my balances low, paying everything on time. (I’ve never once been late), help repair everything in the long run, down the road at least 4 years when I need to get an apartment, auto loans, etc?
I’m still 18…just a few months older and hopefully a bit wiser :)
The reason I am closing one of the credit cards is that Capital One has been charging me for a service I do not use and upon further research have read that Capital One does not report my credit limit to the credit bureaus so it looks bad and negatively impacts my credit. I was thinking Im better off getting rid of it early before more damage is done.

ROMAN

 

Will the credit card industry collapse next? Shld they stop giving credit cards to just everyone, and go back?

Posted in Corporations on 04/10/2010 07:04 pm by admin
goddessinglasses asked:


to the way it was in the 1980′s. Applications were really reviewed and credit was hard to get. Are we all pseudo middle class sharecroppers now- working in stagnant jobs to pay off staggering debts for everyday goods (house, cars, college, daycare)? ( Exclude people who are crazy and buy Jimmy Choo shoes when they can’t even pay the rent.)

CLARK
 

I have been applying for a credit card and for three times the banks have regretted their inability.Whats up?

Posted in Credit on 11/16/2009 07:02 am by admin
Stan Woods asked:


They dont tell any reasons, yet my colleagues with lesser payscales have already received theirs. Yep, way back in 2004-05 I defaulted in clearing an old outstanding, but I paid off and have letters to prove final settlement. Does this have a bearing on subsequent applications and if yes, then how long will I have to wait?

JONATHAN
 
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