Current Events > question about credit scores:

(+) Yeah! (+)

when you get a hard inquiry, is the score your creditor sees affected by the inquiry itself?

or is the score they see the one you had pre-inquiry, and THEN your score is affected by the inquiry after the fact?

---

As long as you don't have multiple hard pulls in a short amount of time on your history, I don't think it has any effect

---

It's a common misconception that it will actually affect the score. That being said, there are soft pulls, and hard pulls. Hard pulls can have an affect on your credit score, but more importantly is if you know how to read you, you can see the recent hard pulls and if there are too many, that can be a red flag to lenders that you may be taking on alot of debt at once. Or attempting a "bust-out" which is a type of fraud, but thats a whole nother thing. Point is, if you know how to read a credit report, the score isn't going to be the end-all of what you're looking at. But you will notice alot of hard pulls.

---

so i opened two new credit cards a little over half a year ago

i then just opened another (trying to churn) earlier this week, and the apr on this card is higher than on the other cards i have, despite my finances staying relatively unchanged

-

i mean, i pay off all of my balances in full as soon as they post, so this won't affect me at all, but i'm wondering whether the inquiry for that new card itself affected my score (and thus the apr)?

from what i've read, more than two hard inquiries within two years isn't a good look, but i didn't think it'd affect things this much

---

I hope you have extensive knowledge of how credit works cause if not churning is going to fuck you over real fast

Also there are 3 different credit bureaus and it's possible you have different credit scores. You might have shit credit with one of them. It could also be the hard pulls (The credit actually goes back up pretty quickly but the inquiry stays visible for a long time). It's hard to tell what the problem is without a lot of info

Axiom posted...

I hope you have extensive knowledge of how credit works cause if not churning is going to fuck you over real fast

can you elaborate on this?

---

Churners typically have amazing established credit already along with multiple longstanding cards. Everytime you cancel a credit card it can hurt your credit score (Especially if it's an older card. Older established credit lines give you better credit) because it messes with your credit utilization

Just jumping into churning without any of this and a strategy of how to keep your score stabilized is a good way to destroy your credit

What is churning and whats the benefit?

---

cavalierking posted...

can you elaborate on this?

the reddit for churning has guides (not sure what the r/ is, just google "reddit churning" and you'' find it) but the jist of it is this:

Don't do it until you're absolutely 10000% sure you know what you're doing.

AlCalavicci posted...

What is churning and whats the benefit?

You know how credit cards usually have these lucrative signup bonuses? Churning is effectively a method of "churning" through credit cards to obtain said bonuses. It can be extremely useful for getting things like free flights, free hotel stays, free everything. However, credit cards obviously are tied to your credit history. So if you fuck up, you risk destroying your credit and your ability down the road to, say, buy a house.

Don't do it unless you absolutely 100% know what you're doing.

---