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Thread: I don't mean to be nosey but......

  1. #41
    Quote Originally Posted by TheRainman View Post
    Credit inquiring don't have that type of effect on the score. Taking out the refinancing loan could. And when you inquire for a mortgage loan or refi. You have a 10 or 12 day grace period. Meaning any number of mortgage companies can run a credit check and it only counts as one as long as it's in the grace period. And the hit is only a few points. And btw, insurance inquiring's are considered soft hit and don't effect your score at all.
    yeah, so I've been told but it happened. I get a credit report listing activity (negative and positive). that's what was listed.

  2. #42
    Quote Originally Posted by cass View Post
    yeah, so I've been told but it happened. I get a credit report listing activity (negative and positive). that's what was listed.

    How a FICO Score breaks down





    The refi increased the amount you owe, which hurt your score.

  3. #43
    Quote Originally Posted by TheRainman View Post
    How a FICO Score breaks down






    The refi increased the amount you owe, which hurt your score.
    the refi decreased the principal/loan amount by a great deal as I applied money from investments toward it, decreasing my mortgage by more than i'll state here. suffice it to say, I am well below owing 30% of home value. besides, credit rating went back up 2 months later so I don't see that this explanation is adequate. absolutely nothing else changed; I had no new cc, loans, nothing. thanks for helping, though.
    Last edited by cass; 04-21-2013 at 02:49 AM.

  4. #44
    Quote Originally Posted by cass View Post
    the refi decreased the principal/loan amount by a great deal as I applied money from investments toward it, decreasing my mortgage by more than i'll state here. suffice it to say, I am well below owing 30% of home value. besides, credit rating went back up 2 months later so I don't see that this explanation is adequate. absolutely nothing else changed; I had no new cc, loans, nothing. thanks for helping, though.

    My guess is, maybe you were excepted by several mortgage companies and they summited it to the credit bureau's and after you excepting one the one or others withdrew and that changed your score. Now that's just my thoughts. But I do know inquires don't have that type of effect.

  5. #45
    rainman, do you encourage ppl paying some company, like Experian, to monitor credit reports? I have been using them to monitor 3 major credit report companies for a couple yrs now. I have found it helpful, not very expensive. I know I can pull my own report once a yr but...I like the info they give me every 2-3 months, which is how I saw the drop in credit rating during refi.yr ago. what do you think? are these monitoring services worth it? I think so. like to keep a close eye on my personal finances. one time, yrs ago, a bank teller allowed a bank withdrawal from my checking by someone with a name similar to mine. while, I think it was a mistake and the bank credited me, I still had to close my chking acct and be inconvenienced due to a teller mistake. I watch everything daily now. well, actually I have been watching online for yrs prior to my catching this mistake. I still was told to shut down my bank accounts. why? the teller made the mistake. I just encourage ppl to check accts daily online, and if have cc, set them up to notify you via e of charges. I, literally, get an e from cap one and ba within minutes of a charge. thanks again rainman. your info is really helpful

    oh, and watch paypal. I have never used them, but again, due to a name similarity, I was being told I owed over 3k yrs ago. I took care of it in one long phone call, was actually called a liar then profusely apologized to at the end. crazy. I have never had nor know how to use paypal acct. so...watch daily. I am not a victim of id theft. I don't respond to links (even from most friends) or phone calls. just be really careful. from what I gathered, the paypal thing was just a total screw up. never used it, don't even know how.
    Last edited by cass; 04-22-2013 at 04:11 AM.

  6. #46
    Quote Originally Posted by cass View Post
    rainman, do you encourage ppl paying some company, like Experian, to monitor credit reports? I have been using them to monitor 3 major credit report companies for a couple yrs now. I have found it helpful, not very expensive. I know I can pull my own report once a yr but...I like the info they give me every 2-3 months, which is how I saw the drop in credit rating during refi.yr ago. what do you think? are these monitoring services worth it? I think so. like to keep a close eye on my personal finances. one time, yrs ago, a bank teller allowed a bank withdrawal from my checking by someone with a name similar to mine. while, I think it was a mistake and the bank credited me, I still had to close my chking acct and be inconvenienced due to a teller mistake. I watch everything daily now. well, actually I have been watching online for yrs prior to my catching this mistake. I still was told to shut down my bank accounts. why? the teller made the mistake. I just encourage ppl to check accts daily online, and if have cc, set them up to notify you via e of charges. I, literally, get an e from cap one and ba within minutes of a charge. thanks again rainman. your info is really helpful

    oh, and watch paypal. I have never used them, but again, due to a name similarity, I was being told I owed over 3k yrs ago. I took care of it in one long phone call, was actually called a liar then profusely apologized to at the end. crazy. I have never had nor know how to use paypal acct. so...watch daily. I am not a victim of id theft. I don't respond to links (even from most friends) or phone calls. just be really careful. from what I gathered, the paypal thing was just a total screw up. never used it, don't even know how.

    Yes I do. I use Equifax. I think it's very important to protect your assets.

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