[Ben Mugged]

Now that you have taken out a loan it will go steadily down. The credit card companies will buy your loan info and run credit checks to give you unsolicited credit. Each time they run a query against you it lowers your credit rating.

Bizarre I know.....

[Jean S]

My husband and my credit ratings are in the 780's - 790's range. I was told it was not higher because our mortgage is paid off, we have no car loans and we never carry large balances on our credit cards? Do you know if that's true?
It makes no sense to me.

[papasmurf]

Not true.

Pre-qualified credit offers aren’t based on a credit report, at all. They are based on an internal survey by the credit reporting agencies of people who match the criteria given to them.

Even your current creditor’s inquiries, who often re-check your credit annually, don’t affect your score.

Inquiries only lower the score when they are conducted with your permission for the purpose of granting credit. Even at that, it would take more than a few, say 4 or more in a six month period for the average person, to have a negative impact.

Inquiries that you initiate, and those provided by the credit reporting agency in bulk, will show on YOUR copy only, and not on a creditor’s copy. Again, they have no impact on your score.

Now, ask me about identity theft, ex-wives, their boyfriends, and how good they look in orange jumpsuits. LOL