<blockquote rel="pmzinoz">Guys, question... I just bought a car yesterday pero sa monday pa malaman if approve ang financing. But when I got home, na realize ko parang may iba pa ako nagustuhan na car and I wanted to cancel sana the first one.
Nakalagay naman sa pinirmahan ko na I can cancel the deal within 3 days.
Ang tanong ko lang is may effect ba yung pag cancel ko sa like credit history ko?</blockquote>
Walang effect sa gnayon....
IF you apply agaon or several times sa iba ibang financing.... lalabas yun s credit hisotry mo.
"Pwedeng" maging negative ang impression sa credit history mo.
Every time you apply for loan, credit card, financing or even pre-approval of home loan they initiate a credit check that goes to your credit rating.
I was told that what is recorded is the credit check only and it does not mention the reason.
if you were approve or denied or change of mind.
In my case, there was a time that I look for home loan.
I found one home loan that I thought has a better deal so I applied for pre-approval.
Later on, I notice another bank offer a better deal so I apply again for pre-approval and so on.... until I have several pre-approval.
When I check my credit history, it shows several records appeared in my credit history.
Institution or business may interpret be perceived as negative since they can see a lof of home loan application which they might think that was getting denied.
Same thing with credit cards.... if you have a lot of credit card application.. it will show up in the credit history that whose credit card company was doing a credit check on you and recorded in your credit history. They "might" think that you are getting denied why you keep applying for other credit cards since they do not provide details the reason or the result of the credit check.