3 free credit report Missoula

First, lets clarify the difference between a soft credit pull and a 3 free credit report Missoula hard credit pull, as we will be discussing 3 free credit report Missoula how a hard credit pull affects your account. Next, its important to understand that not all hard pulls on your credit report are created equal. For example, applying for multiple revolving accounts such as credit cards in a short period of time represents greater credit risk under the FICO scoring system. Because applying for multiple accounts is viewed as a credit risk, it will negatively impact your credit score. credit report and score As an aside, some have used Credit Card Arbitrage to avoid the immediate sting of hard pulls on 3 free credit report Missoula their credit score.

The idea 3 free credit report Missoula behind credit card arbitrage is that 3 free credit report Missoula you can apply for a lot of credit cards within a short amount of time to take advantage of no interest introductory offers or sign-up bonuses. free credit check report If you apply for many cards at the same time, the credit card issuers will not see the negative impact of all the inquiries when they evaluate your application. Your score will be 3 free credit report Missoula negatively impacted once 3 free credit report Missoula the credit inquires appear on your report, but not before decisions 3 free credit report Missoula have been made on the credit card applications. While applying for multiple credit card accounts in a short time period can hurt your credit score, rate shopping for other types of credit is different. For example, you may submit multiple credit applications when 3 free credit report Missoula shopping for a mortgage, car loan or student loan. the free credit report Known in the myFICO world 3 free credit report Missoula as rate shopping, the credit scoring system understands that you are shopping for the best rate, not actually applying for multiple mortgages.