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karleep

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Seems like a catch 22..
You apply for credit to raise your score. But when you apply for credit it lowers your score. You have to shop around for the best offers, and then you get "penalized" for it... Am I missing something here?

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You are not missing a thing. If you make an application for a loan then they will pull yor credit resulting in a hard inquiry. A hard inquiry without a corresponding opening of an account is interpreted as a credit decline. This will cause otential creditors to use that as a reason to deny credit.

The thing to do is to get a copy of your own report either free credit report or a paid one, and even a FICO score report and take it with you to shop around. Get a committment for the loan based on your provided documents and if your score differs when they pull your credit they can always decline.

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