Quote:
Originally posted by motion
Jim, I'm not looking into developing anything.. just personal stuff.
Does anyone know, positively, that cancelling a credit card or two will hurt/help? That's an option, just from a simplicity perspective.
The inquiries may, in fact, be killing me. I've heard that an inquiry can cost you 3-5 points. If that's the case, might I be looking at 20 points or more because of the inquiries? Possibly, I should start writing letters to the inquirers asking them to pull the inquiries. ???
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When I bought the business I own now I seeked a private individual I knew that could loan me the money.
2 reasons.
1. What bank will give me a business loan for a new business?
2. I needed to close this deal fast and did not have the time nor the patience to play with loan officers, credit ratings etc..
You are correct every credit inquiry is a 3+ point hit. I was pissed at a mortgage broker once because I discovered he ran 7 checks, I am pretty sure he did it to screw up my credit rating.
Its all a big joke, a game.
Even if your endevor is personal so what, there is always someone who is willing to loan money on a project for a small profit. Then you get an end loan and pay him off.