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  • Credit inquiry

    I would like to buy a house in the near future. I am interested in financing a new cell phone right now (because my phone is too old) . How much will the credit inquiry for the financing of my cell phone affect me? Do you recommend that I don’t finance my phone? Thanks in advance for being patience with my ignorance.

  • #2
    Financing phones is bizarre. It shouldn't require a "hard" inquiry that shows up on your report and affects your score.  It should just be signing an agreement and you pay it prorated over 24 months with an option to trade/upgrade after a year or so.

    Even so, a credit inquiry should only lower your score by single-digit points. Do you know your current score?

    And, please do not let this be received as condescending, but if you're a resident, especially if you're worried about financing a phone, do you really think taking on a mortgage is such a good idea?

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