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We all know that the best practice to taking out a loan is to compare multiple offers against each other, but will that many inquiries on your credit hurt your scores?
So, you’re newly married and you’re worried how your spouse’s bad credit score will affect your good credit?
Consumers with problem credit thinking of applying for an auto loan need to first check their credit reports to be sure they meet the minimum in-bureau requirements of the majority of subprime lenders.
At Auto Credit Express, where we primarily deal with car loans, applicants with bad credit sometimes ask us, “What credit score do you need to lease a car?”
But it’s also true that consumers with bad credit who want to know the best way to buy a car with poor credit should also know which facts are not considered, at least by FICO, when a credit score is computed.
since 2006 there has been an additional credit score that auto loan applicants should be familiar with other than the well-known FICO score.
Just as it’s important to know what your credit scores are before applying for any loan, especially poor credit car loans, it’s also valuable to know how the decisions you make regarding credit will affect your FICO scores.
Fortunately, FICO just released an article that discusses some of the incorrect ideas about credit scores. Here are some excerpts from that article: