06-01-2019, 05:20 AM
(06-01-2019, 05:19 AM)examplemallet Wrote: Creditors want to know your track record of paying off bills and debts. To show a good track record, open some credit accounts, pay on time, and try not to have a lot of debt. But beware: having too much credit—for example, having many credit cards—may hurt your credit score because creditors may look at your total debt potential.
Be thoughtful about what credit cards or financing to apply for. Applying for many new credit cards or other credit accounts in a short period of time counts as several “inquiries” on your credit report and can hurt your credit score. Note that if you have lots of inquiries for a mortgage or car loan in a short period of time, many creditors will consider them as a single inquiry.