 Credit
card offers don't hurt credit score
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 Dear
Dr. Don,
I have a question about a credit report. When a credit card
company offers a preapproved card, do they check my credit score and does it hurt
my credit score? If it does, how can I protect my score?
Thank you,
--
Peter Proffer
 Dear
Peter,
A credit card company will check your credit report before it
sends you a preapproved offer. This type of inquiry does not hurt your credit
score. It also doesn't show up when others request your credit report. Inquiries
made by your existing creditors also are not part of your credit score.
It's only when you apply for credit that it shows
up on your credit report for other lenders to see and it does then
impact your credit score. So, you taking the company up on
that preapproved offer will generate an inquiry that impacts your
credit score.
Personally, I've opted out of having credit
card providers send me preapproved offers. You can too by calling (888) 5-OPT-OUT
or (888) 567-8688.
When I'm in the market for a credit card, I use Bankrate's
credit card search feature
to find a card that meets my needs. I might miss the occasional
zero-percent balance transfer offer, but since I try not to carry
a balance on my credit card, I don't lose any sleep over the missed
opportunity.
To ask a question of Dr. Don, go to the "Ask
the Experts" page and select one of these topics: "financing
a home," "saving & investing" or "money."
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