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Subject:  Re: Do pre-approval credit checks affect FICO? Date:  10/17/2005  10:48 AM
Author:  Rhodnius Number:  212697 of 313043

If you have a lot of hard inquiries (inquiries where you gave permission to be evaluated for a new loan or credit card) you begin to look a little bit more risky.

It's also worth noting that the FICO system is entirely based on real-world statistical results. Some bank manager isn't just deciding that you look more risky because you applied for credit. It's historical data - hard statistical fact - that a correlation exists between making credit inquiries and an increased likelihood of future default. The whole FICO system exists to gather such data and identify such patterns in it, so that lenders can make informed decisions about the likely future behavior of their customers.

- Erik

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