Will my credit score fall if I shop many loan providers

Credit inquiries impact credit scores negatively because statistical studies show that multiple inquiries are associated with high risk of default. Distressed borrowers often contact many lenders hoping to find one who will approve them. On the other hand, multi- many delinquencies in past two years balance below 75 of line on all cards three new cards acquired in last month Table 2-1. Best and worst of credit card usage Table 2-1. Best and worst of credit card usage ple inquiries can also...

Can I improve my credit score by paying off delinquent credit cards

Most everyone understands that if you don't pay your bills on time, your credit score suffers. There is a com mon misperception, however, that if you pay off these accounts, all will be forgiven since the lender has been paid, the credit score will return to what it was before the delinquency. But it doesn't work that way. Delinquencies reduce your credit score because the credit-scoring genie views delinquent accounts as evidence of a weak commitment toward meeting your obligations. The...