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Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: How much is too much? Date:  5/12/1998  1:02 PM
Author:  Nilwob Number:  1498 of 312187

<<I did that some time ago and was almost completely bored with the result. All my info was correct, and none of it bad. The only thing on there I didn't expect is a credit card company (who used to send me offers weekly) was checking up on me every month for over a year. Their name was all over the report. Why would anybody do that? Should I be concerned about it?>>

The only reason you should be concerned about is if you do go to get credit for something you want/need, e.g. a car, some creditors will look at that as making you greater risk. The reason I know this is because (please don't groan or flame me) my grandfather owns a used car lot and he used to own a new car dealership. Anyone who had a lot of inquiries on their report had a harder time getting a loan and/or got a higher interest rate. I learned that when I shadowed the F&I guy.

Foolishly, Nilwob.
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