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Started By
Message
Why does pulling a credit report count against you?
Posted on 10/13/15 at 6:10 pm
Posted on 10/13/15 at 6:10 pm
When prequalifying for a loan and they pull credit histories, why in the heck does this result in a loss of points, even if you decide not to take out a loan?
13
Posted on 10/13/15 at 6:11 pm to LSUTANGERINE
this is the OT its cause you're trashy
Posted on 10/13/15 at 6:11 pm to LSUTANGERINE
Because Steve Sarkisian.
ETA: in all seriousness, I've wondered that as well.
ETA: in all seriousness, I've wondered that as well.
This post was edited on 10/13/15 at 6:12 pm
Posted on 10/13/15 at 6:11 pm to LSUTANGERINE
You can't say you DGAF if you pull a report
Posted on 10/13/15 at 6:14 pm to LSUTANGERINE
Many hard checks on your credit in a short amount of time can suggest that you are biting off more than you can chew, and you are borrowing too much money. Or you thinking about doing so at least. It is a sign of irresponsibility. It isn't a big knock, but it is still something that creditors consider worth thinking about.
Posted on 10/13/15 at 6:14 pm to LSUTANGERINE
Because you were inquiring about taking on a debt obligation, and in most cases, likely will. 
make sense to me.
Now, keep in mind, if it's mortgage shopping or something like that the lenders understand "shopping around" and don't hold it against you.
make sense to me. Now, keep in mind, if it's mortgage shopping or something like that the lenders understand "shopping around" and don't hold it against you.
Posted on 10/13/15 at 6:17 pm to LSUTANGERINE
Why would you need credit for anything? Just pay with cash like a OT baller does
Posted on 10/13/15 at 6:19 pm to TigerDeBaiter
quote:
Now, keep in mind, if it's mortgage shopping or something like that the lenders understand "shopping around" and don't hold it against you.
I think if it's within a certain period of time then it doesn't count as many hits against your credit in order to account for this. I could be wrong.
Posted on 10/13/15 at 6:20 pm to LSUTANGERINE
Places like Credit Karma do not count against as they are soft pulls.
Posted on 10/13/15 at 6:24 pm to LSUTANGERINE
If it makes you feel better - they only count 2 or 3 points on my score - obviously other results may vary - , but I suspect 2 to 5 points per hard pull within 2 years - unless it scales drastically at the edges of the range. It's only going to hurt you if you're right at a line.
This post was edited on 10/13/15 at 6:26 pm
Posted on 10/13/15 at 6:39 pm to LSUTANGERINE
If we listed everything about the credit game that is completely fricked up and unfair it'd be a long arse thread.
Posted on 10/13/15 at 6:40 pm to Peazey
I am "thinking" about financing a pool. Will my thoughts count against me?
Posted on 10/13/15 at 6:43 pm to ksayetiger
quote:
Why would you need credit for anything? Just pay with cash like a OT baller does
Because my investments are earning interest at a higher rate than I will be paying on the loan, which is how you improve your baller status.
Posted on 10/13/15 at 6:45 pm to LSUTANGERINE
When do your thoughts made actions not have an affect?
Posted on 10/13/15 at 7:07 pm to LSUTANGERINE
quote:
I am "thinking" about financing a pool. Will my thoughts count against me?
Wait, I thought you people.....nevermind.
BTW, it's a joke.
Posted on 10/13/15 at 7:08 pm to LSUTANGERINE
It doesn't.
Posted on 10/13/15 at 7:11 pm to LSUTANGERINE
quote:
When prequalifying for a loan and they pull credit histories, why in the heck does this result in a loss of points, even if you decide not to take out a loan?
Soft pulls don't. Hard pulls count because it means you're seeking new credit, which means you don't have the cash to purchase something you want to own.
Posted on 10/13/15 at 7:29 pm to USMCTiger03
Dun & Bradstreet is at the top of the scam list.
I will get them one day, even worse than I already have.
I will get them one day, even worse than I already have.
Posted on 10/13/15 at 7:31 pm to LSUTANGERINE
Hard pulls
Soft pulls
Mmmmmm
Soft pulls
Mmmmmm
Posted on 10/13/15 at 7:50 pm to Peazey
That rationale is moronic.
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