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Inquiries Can Hurt Your Credit History And Leave You
by Gianni Myrtle

Fact or fiction: The only person who can see your credit
history is you. The truth is many creditors and employers
have permission to see your credit history without your
notification. When you apply for a job, a loan or other
credit, these operations have the right to find out what
you~ve been up to with your finances. While they~re out
painting a picture of your worthiness, you~re left in the
shadow hoping for the best. The problem with this picture
is not everyone is proactive about her credit history. This
history tells if you are worthy of a rating between
excellent or bad. In many situations, a bad reputation is
hard to fix.

You innocently fill out a few credit card applications at a
trade show for the great freebees. Later, when you really
want that card or some important loan, you~re denied. Why?
You~ve been partying with your credit without even realizing
it. Every time you request a credit card or loan, your
credit history is checked and left with a deduction on your
rating. While some lenders take the time to notice why your
rating is down and will look the other way, some creditors
see every mark as a sign that you aren~t responsible. All
that for just filling out a form!

Many lenders usually overlook harmless infractions such as
too many inquiries on your history. However, you usually
have to first explain this to the lender in a timely manner
before the lender will excuse these blemishes. The easiest
way to avoid these blemishes is to pass up those harmless
applications at the mall and so on for a while before you
plan to seriously go after a big loan like an auto loan or a
mortgage loan. By avoiding unnecessary inquiries on your
record, you are increasing your chances at bringing your
credit back into tiptop shape.

Even when you apply for a job or fill out an application for
a rental property, these sources can leave check marks on
your credit history and ruin your rating. In reverse, apply
for jobs a while before you need a loan.

The sure-fire way to make sure your credit history is free
of bad marks is to check your history long before you need a
big loan. When you have ample time to fix any problems or
dispute discrepancies, you can actually improve your credit.
You might be amazed to discover that many of these marks
come from inaccurate reports made by your creditors. Many
credit bureaus are equipped to help you fix these reports
and other errors. In fact, many credit bureaus are willing
to take your side and help you correct any problems.

Conversely, the worst time to examine your credit is when
you most need a good credit history. Free credit reports
are offered yearly through the nation's top three credit
bureaus at a convenient online service called Annual Credit
Report (http://www.annualcreditreport.com).

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