Thank you so much! One more question while I'm in here... some of this still sounds like Russian to me because I don't have any experience with it...
Sometime in the next year, I might be shopping for a car.
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Originally Posted by NoSoup
You only have a brief period to shop around when searching for mortgages, and on occation vehicle or other collateralized loans, depending on the institution doing the lending. If you apply for several different credit cards within a short period of time, your score will be reduced accordingly.
Additionally, I believe the period is five days, although it may have recently changed.
The moral of the story is this - even if you are shopping around, don't shop around excessively. If you are interested in getting a ton of different quotes, simply purchase a copy of your credit report and bring it to potential lenders and ask them what you would qualify for providing that the copy they would pull is relatively the same.
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Does this mean that every time I asked about financing options, they would run a credit report? And doing that too many times is a no-no?