Hard Inquiries
Why Hard Pulls Negatively Change Your Credit Score
Hard pulls are a ding on your credit because history shows that lots of credit pulls mean more risk for lenders. Why? Someone who is aggressively seeking credit is more likely to be in financial trouble. People with 6 or more hard pulls in 2 years may be up to 8 times more likely to declare bankruptcy than people with no inquiries on their reports, according to MyFico.com.
It’s important to remember that you’re dinged when lenders recognize a pattern. That doesn’t mean that every hard pull is bad, and sometimes they’re necessary! Just keep it in mind when you’re trying to get a loan or open a credit card and apply wisely.
Important Information About Procedures for Opening a New Account: To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents. Card use subject to available credit; for security reasons, card may not be used for automated fuel pumps, for gambling transactions or at merchants outside the United States.
The Revvi credit card is issued by MRV Banks pursuant to a license from Visa U.S.A Inc.
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