| Credit reports can be a bit of a balancing act. On one | | | | information or guidance even if you are trying to find |
| hand they need you to take out credit so that they | | | | out why you have been refused by a merchant for |
| (the big three credit reporting agencies) can see that | | | | credit. |
| you have a good payment history otherwise they | | | | For a general guideline as to how long do credit |
| have nothing to base a credit report on. But if you take | | | | inquiries stay on a credit reports, it is usually safe to |
| out too much different credit too quickly then they can | | | | estimate about 2 years. And if you have been refused |
| see you as being a bad risk for their clients thereby | | | | credit because of this it is usually a good idea to wait |
| preventing you from obtaining a good credit ranking | | | | for about 6 additional months before applying again for |
| and possibly favorable credit terms on future | | | | another loan. Even if you have been applying for credit |
| purchases. | | | | cards and are now looking for a mortgage the credit |
| The trick is if you are looking for credit, whatever it is | | | | card applications will appear on your credit report for |
| for, then only apply for the credit that you really want. | | | | the mortgage company. |
| Don't apply for many different products so you have a | | | | The best way to make sure that the credit check |
| better chance of one of them accepting you. Of | | | | companies do not see you as having too many |
| course, it can be difficult trying to determine just how | | | | applications for loans is to not apply for more than one |
| long do credit inquiries stay on a credit report and | | | | or two things at a time. That way they may see each |
| when you can start applying for purchases requiring | | | | application as separate and you will not look like |
| credit again without it adversely affecting your credit | | | | someone who is just applying for a lot of different |
| history. | | | | products or credit at the same time. Of course if you |
| Although you may want to know and may routinely | | | | get refused for the loan you are looking for then you |
| ask yourself "how long do credit inquiries stay on a | | | | are free to always apply to different loan and credit |
| credit report" for perfectly good reasons it is not | | | | agency or company. Just remember, it is not usually a |
| always easy to get a straight answer to the question. | | | | good idea to apply for too many at the same time. |
| Credit report companies can be very secretive about | | | | This way your credit is much more likely to be looked |
| exactly how they compile their reports for very good | | | | at favorably by the credit report company. |
| reasons and are unlikely to give you any real help, | | | | |