The Weekend Rock
Featuring The Weekend "12 Pak"

BECU Financial Advisor


Rate Shopping

Applying for new credit creates what is known as an inquiry on your credit report and multiple credit requests in a short period of time can impact your credit score but there is an exception.

When it comes to shopping for a single loan such as an auto, home, or student loan inquiries made in the 30 days prior to scoring are ignored.

Here’s the bottom line.  When searching for a mortgage, auto, or student loan do your homework ahead of time to decide which companies to approach for a quote, but don’t be afraid of getting multiple quotes, just make sure you do your rate shopping in a reasonably short period of time.

12/04/2012 10:42AM
Rate Shopping
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