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This is Steve. Currington. Com in the Steven Tyler Show episode. Number 172. Welcome to current temp need to go see the doctor code get ready, because here it’s Steve good morning, podcast land. I am Steve Currington., Calm and you’re. Listening to the Steven Tyler show today, Tyler. Here’S what we’re talking about today, I have not prepped mr. Tyler wyburn Tulsa mortgage expert at all 0 0 prep, for what we’re going to talk about today on our podcast. But here’s what we’re going to talk about today on our podcast tell her we’re going to talk about. What’S the difference between credit inquiries between different lenders like, for example, if an auto company, or if I’m buying a car and some apples, my credit versus applying for a credit card, Tulsa Mortgage some oppose, Buy credit versus applying for mortgage because we got it covered credit inquiries before Right, but this is something that we literally talked about every single day of the week right, I mean every single day that we take an application which we take an application every single day, multiple times people ask about inquiry. So Tyler tell me what your I guess from your experience, doing the Tulsa mortgage loans that you’ve done and all the time that you’ve spent originate loans. What is your whole take on credit inquiries and, first of all, why people are concerned about him? And, secondly, should they be people are concerned about it, because I think that it’s really going to lower their credit score, which it can in certain instances. But when you’re talking about kind of how we’re going to talk about it, it’s really not going to so, if you’re crazy with it, I mean, let’s say for everything under the sun I mean literally like I want a credit card. I want a new car. I want this, I want that then you’re probably hurt yourself. I mean it’s kinda, ridiculous, crazy with it. Let’S talk about homeless, Baltimore Regus, you shopping for a mortgage, you go and you apply for three or four different places. You have three or four different inquiries. Know that is not going to hurt your credit score. How come why it’s actually, contrary to what every single person has ever told me ever about credit, every single person is crazy, except for us, so your inquiry whatever’s going to happen to already have. Tulsa Mortgage First one done now. You got 30 days to go and shop and do that more so you can do that three four five six times whatever, but whatever was done, was done on the first one. And it really wasn’t enough to hurt you but they’re going to have to look at It I mean: why does every single person we talked to like? What do you think the the backstory behind why people are afraid to pull the credit, because we literally have people that have perfect credit,

like I pulled credit for someone who has over 800 credit score, which is very rare by the way, if you have we, we Talked a lot of people see all my credit score is 850. No, it isn’t because I’ve never seen an 850. That’S actually, probably not even possible, because that that two of the bureau’s, you came and go to an 8:50. So you can’t really have a mid of an 850. But I’ve seen plenty of them that are over a hundred but they’re very few and far between. But even with those people that are at an 800 credit score, they have this concern. Like hey Tyler, I paid my bills on time. I have used my credit wisely. I do not carry balances on my credit cards. I pay all my mortgage, my my auto loans. Tulsa Mortgage I pay everything on time, I’m very limited on debt. Maybe I have literally I’ve got 20 years of good credit history. I’Ve never had a bankruptcy, never had a late payment or anything haven’t ate or credit score. If you pull my credit, is, is my score going to drop like what is that come from like what I’m saying like what? Where do you think the origin of people being scared to inquire on their own credit to be able to be extended? Credit come from and to just like this conspiracy theory bucket. Okay, I am must tell you that I believe that maybe – and somebody tried to bump this but there’s like a thing about how, at the time they couldn’t have done a video production. Tulsa Mortgage Where would look like real money on the moon, but I think right now, there’s a whole lot of Technology out there Tyler that we don’t know about that. The government has access to so yeah. I don’t think it has anything to do with the people that believe that we landed on the moon. So, let’s be serious here. Why do people think that, like what’s their reasoning, sales people out there in the world there’s going to make things up and run with it and it’s ridiculous, but unfortunately that’s where the downfall is because people been lied to I mean, when you say, lie to yourself, Like if I called like a mortgage company – and they said to me – hey, don’t go get your credit pulled by anybody else, because your score might drop like they’re lying. Absolutely. Well, that’s interesting yeah, but here’s the thing I said everybody that we talked to I mean I don’t think there is a. There is a person, good credit or bad credit that doesn’t ask about whether the inquirer’s going to if it’s going to be a hard pull right. So really what this podcast is designed to do is to let you know that you should not be scared to use your credit. So there’s two ends of the spectrum: Tyler, okay, there’s a person I just described it as like.

They had her credits from okay and sticker that person. Then you should not ever worry about any enquiries. Ever ever you, you can actually do what Tyler said in apply for a credit card and then a car loan and then a mortgage. And then you know, multiple department store accounts and you have nothing to worry about, because you have demonstrated over the course of time that you pay your bills on time and you haven’t had any late payments. It is literally you can do whatever you want. In fact, keep doing whatever you want just like you have been because your credits perfect. That’S why I tell people what should you do to to make sure your credit’s good to keep doing what you’ve been doing all along, because it’s obviously working because you have a 810 credit score? Okay, Tulsa Mortgage if you’re on the lower end of the spectrum, like let’s say, maybe you’re a sub 600 credit score. Maybe your credit score is not that good. You shouldn’t be worried about inquiries at all ever like at all. Ever you should be worried about it, cause I’m going to tell you why. The reason you have a some 600 score is because you either don’t have very much credit. The credit you have. You had lates on it. You had bankruptcies, you had credit card payment late. She had you got collections, you got medical collections, you got something on there, that’s bringing your score down and the last thing you need to worry about it. Another inquiry. You need to worry about paying your bills on time. That’S the going to be the biggest factor in determining whether your score goes up or down is whether or not you pay your bills on time, because that is 35 % of your score 35 or send your scores, your, how you pay your bills and then 30 % of it is how you use your revolving credit. So if you have credit cards and you got them all maxed out between did I pay it on time and what’s my balance compared to my credit limit on it, that’s 65 % of the score, and then they break it up. Based on the types of credit you have, you have installment debt, you have a mortgage, do you have credit cards that type of thing, but those are the factors that that, in my opinion, Tyler – and I happen to be right – that you should be worried about in. Tulsa Mortgage I hate to say that if you’re listening and you have messed up credit, I’m not suggesting that you should go apply for credit like crazy. I’M not saying that I’m just saying when you’re calling A lender to try to get approved for a house or a mortgage. The last thing when you’re a sub 600 credit score you should be worried about, is whether the inquiries going to fix your credit score. You should have been worried about that when you didn’t pay a bill on time.

You should have been worried about that when you let a collection get on your credit, you should have been worried about that when you max out your credit card or over your limit, you should be worried about that when it comes to paying your bills every month, Not just getting an inquiry so and I’m not trying to beat you up if you’re out there and you may mistakes on your credit. We have all types of people with whether they have good credit. Bad credit doesn’t matter to us, but it’s just interesting and Tyler can stick at this. When you talk to someone who has the other day and not to pick anybody, but they were literally below a 500, which is almost like borderline professional that are, like you literally open up stuff, Tulsa Mortgage with no attention to pet and the biggest concern this person had before. We pulled our credit was whether the Inquirer was going to make your credit score drop, and so, of course we told him what we’re telling you on this podcast, but then it’s really comical when we pull their credit and their 472 and we’re like really dude. You are worried about your credit score, dropping because of an inquiry. When you have a 472 credit score, I mean you have to work at that I mean you have to work pretty hard to get to a 472. It’S just like you do. You have to have like a lot of recent stuff exceptions says we met people that have had like student loans that were in deferment that reported like 12 different accounts that were like a hundred twenty days late. That can take your score, but if this was not the case with this person, so here’s the message today: okay, if you want to get it till some more here’s what you have to do, Tulsa Mortgage don’t worry about getting your credit pulled worry about paying your bills on Time get some education on how to use your credit. Don’T worry about inquiries because everybody worries about inquiries more than they worry about anything else, and I personally just believe and, as I said before, I happen to be right – that the inquiries have nothing to do with anything. I’D like people say that has nothing to do with the price of tea in China know what I’m saying I said: that’s all we got for today. I’M Steve careington.com and you’re here with Tyler wyburn, and we are your Tulsa mortgage. Lender call us 918-254-5626. If you need a deeper dive into how credit and credit inquiries work,