Credit Report Help PLEASE - Posted by Jay D

Posted by Michael A. Bardelli on March 07, 2002 at 11:45:29:

Your credit score will not be lowered by these “soft” inquiries. Account maintenance(AM) and Account Review(AR) and promotional (PRM) are not counted against your FICO score. The only inquiries that count against you are the “hard” inquiries. These are the inquiries that are generated when you apply for credit somewhere or you give your consent to have your credit checked by someone. While there is no exact formula available to the general public as to how much they will count against you, the general consensus is 5 to 10 points per inquiry. Hope I helped.
Michael A. Bardelli

Credit Report Help PLEASE - Posted by Jay D

Posted by Jay D on March 07, 2002 at 11:38:19:

I saw a post concerning someone who was trying to cleanup their credit report so I decided to check mine out. Their were 38 inquiries made in the past year. Many I did not even recognize!!! Man was I steamed.
At the bottom their is a key saying that PRM is promotional inquiry in which only my name and address is provided. I should not worry about these on my report right? Will these decrease my FICO score?
Another is AM or AR which are periodic review of credit history by a creditor. This is fine but many are checking every 8 days sometimes…are they nuts!!! Will these inquiries decrease my FICO score?
Should I stick it to the credit bureau or should I not worry about these inquires. I just graduated from college and I dont want these things getting in the way when it comes time to having good credit for car, house, etc.
Thanks for the help guys…this site is great!!!


PS I advise everyone to checkout their credit report and to visit (great stuff!!!)

Re: Credit Report Help PLEASE - Posted by Clare

Posted by Clare on March 07, 2002 at 15:36:24:

For a good idea of what affects your credit report: