Credit Checks

Submitted by coffeebean on Thu, 01/17/2008 - 03:07

Hi everone, I am writing in regards to credit checks. I had recently recieved a credit check that shows things I didn't know about it. Checking your credit apparently damages your credit. I have found applying for things at stores to get discounts are also damaging. What more should I know about this topic as a young adult starting out into the great big world? I hope these thing do not effect my credit greatly, I mean I do want to own a home someday and therefore would need good credit.

Making your monthly payments on time on what open acounts you have right now will increase your score, it kind of pushing the negative back. The negative will stay on your account for like seven years.

Don't apply to any of the instore promotions that they have out there, I was unaware that this dropped your score to, I used to apply for them when I was younger. It is called a hard inquiry when you apply for something.

goodluck, hope you find the answers you need on here.

Thu, 01/17/2008 - 12:03 Permalink


You are absolutely right about making the payments on time on current bills, this will help wipe out the negative and bring the positive to light, and again you are correct about the credit card offers.

Keep paying what you have right now, you seem young, these will clear themselves up due time, even if you pay them they will stay on there as a negative once they are charged off. I would pay them just to get them out of the way and then a future lender will see you made the effort to pay them anyway, if the opportunity presents itself, if they are not contacting you, I would say let it go until they do, it has already harmed your credit. Hope this post is not running in circles, if you need clarification please ask. sorry to ramble.

Thu, 01/17/2008 - 12:14 Permalink

It only comes off your credit 7 years after all contact has stopped.Thats what I read. Not after your last payment but after they last contacted you. So they could keep contacting you for years and make it stay on your credit longer than 7 years.I read that somewhere. I also read that applying for credit cards or credit will lower your score. It sounds stupid.I mean if you want more credit applying for it will lower your credit rating.How dumb does that sound?

Thu, 01/17/2008 - 14:51 Permalink

coffee bean my banker told me years ago that credit companies dont really help your credit. i to had trouble getting credit and went to loan companies got loans and paid them off and on time when i finally got a bank loan the banker told me all that showed was i made my payments but also that i didnt have established credit or i wouldnt be useing credit loan companies.hope this helps some but i always say you gotta start where you can just be sure to keep your payments up and payoff on time . i recently paid my daughters college off and was told they look down thier noses at me for that because i made them lose a lot of money in interest. hope you get started you ll do fine if you keep yourpayments on time. best of luck

Thu, 01/17/2008 - 23:44 Permalink


If you look at your credit report it says that it will fall off at a certain date. That date is seven years after the last payment activity. It definately not seven years after contact, they will contact you forever.

Fri, 01/18/2008 - 00:07 Permalink


Fri, 01/18/2008 - 00:17 Permalink

Hi Coffeebean,

This is true that checking of your credit report does lower your credit report but that is not when you make a pull or for any soft pulls. Hard inquiry would damage your score for sure because when you apply somewhere they are bound to do a credit check and that requires a hard inquiry into your report.
That is why we suggest that if you are applying for any card or a loan do a prolonged shopping and find the right thing for you. Only once you are sure you want it you go ahead and apply. Random buying credit affects because of simultaneous credit pulls.

Fri, 01/18/2008 - 09:37 Permalink

It is not seven years from date of is seven years from date of delinquency/activity. This means a max of seven years, from thirty days late, up to date of charge off (180 days late).

Fri, 01/18/2008 - 13:32 Permalink

coffee bean you are just gonna have to get a credit card or small loan and make sure you pay on time and then get a bigger loan after that oe is paid. and on and on. before you know it you will have established credit .

Wed, 01/23/2008 - 01:21 Permalink