I'm very familiar with the BS the credit agencies/banks pull on people. Particularly with the point loss (7 points) for credit inquiries.
Their thinking is if someone pulls your credit, you are looking for money, which makes you a bigger risk, so they can knock off 7 points. Of course, that's not always the case. I use a Pitney Bowes postage meter at my office. I had a $300.00 credit line with them. I would fill the machine with $300.00, but instead of making monthly payments, I would just pay the whole thing. After a year, THEY CALLED ME and said, "Tom, you are a great payor. We'd like to bump up your limit to $800.00. We're faxing you the forms right now." They did bump me up, but before doing so, they pulled my credit. So my score dropped 7 points for the inquiry, and then even more points because I now had a higher credit line. So I got punished for being a good payor. Another hit was when my wife bought an appliance from Sears. "If you open a sears accound Mrs. D, you save 5%." Great! Another 7 points for the inquiry, and more points off because we have a Sears card. I'm all in favor of congress passing some rules about this crap. --- In AsburyPark@yahoogroups.com, "oakdorf" <[EMAIL PROTECTED]> wrote: > > http://landlordtenant.blogspot.com/ > > Amazing how the mortgage (and appraisal) business operates. > Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) <*> To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
