Credit Report Question!

Metamorphasis555
Metamorphasis555 Posts: 224 Member
edited October 2024 in Chit-Chat
Due to recent financial difficulties, I recently applied to several cash advance places for a cash advance loan. (Dumb I know. This is honestly the very first time I've ever applied for one). I received several offers but only accepted one of them as I'd heard that this particular place was supposedly one of the more "reputable" ones.

What I'm wondering is do you think that might look bad on my credit report that I just recently applied to several of these cash advance places within a fairly short amount of time (over the course of a few days to a week)?

The main reason I'm wondering this is that I'm going to be moving to a new apartment soon & I know most places do credit checks on prospective tenants. My credit report was at least decent before this so hopefully applying to these cash advance places didn't do too much damage....

Replies

  • McKayMachina
    McKayMachina Posts: 2,670 Member
    Yep. Hard inquiries take a few points off your score. You can get a rough idea of your score for free from Quizzle.com. It uses Experian. Otherwise, check your credit at AnnualCreditReport.com to check each bureau against the others. An inquiry on yourself is considered a "soft" inquiry and will not adversely affect your score. Hope it helps.
  • aa1440
    aa1440 Posts: 956 Member
    The interest on those loans are outrageous. You should have just tried to get a personal loan through a bank or credit union. Anything is better than those loan sharks.
  • believe22
    believe22 Posts: 210 Member
    Depends on if it's a hard pull or soft pull. A hard pull will ding your credit a little bit.
  • TattooedMommy427
    TattooedMommy427 Posts: 283 Member
    cash advance places (ie, check into cash) where you write a check and they "hold" it til payday with interest charges do not check your credit. Loan companies do.
  • NoAdditives
    NoAdditives Posts: 4,250 Member
    It depends on whether or not the loan places run your credit. If they don't, you're fine. If they do, it will lower your credit score some.

    Also, I know this isn't any of my business and I know surprise things happen sometimes, but if you're having to get a loan from a check cashing place, can you really afford to be moving? Deposits and things are expensive...
  • Bahet
    Bahet Posts: 1,254 Member
    Everyone is entitled to one free credit report for themselves every year. You can check all 3 companies. Do NOT use those freecreditreport.com type places. If your credit was good before the slight ding that any credit check (aside from your own once a year free check) won't do any real damage. If you were eligible for the apartment before there shouldn't be any issue with you getting it now.

    In the future do not use those payday or cash advance or car title loan companies. They are scams. If your credit is decent you can get a personal loan from a bank or borrow from a friend or family member (just make sure you pay them back).
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