It was stated that frequent inquiries into letters of inquiry could have serious consequences. “So, what is the impact?” This is of concern to many. In fact, the impact of letters-inquiries on credit records will need to be considered in detail, depending on the circumstances。

Did you check over 50 letters for impact

First of all, let us be clear that frequent letters of inquiry does have an impact on credit. It is noteworthy, however, that not all credit information queries have a negative impact on credit. For example, if an individual makes an inquiry on his or her own initiative, the impact is usually not significant. For loan platforms, however, frequent search records may have a greater impact on their creditworthiness。

What, then, could be the impact of frequent inquiries into letters of inquiry? Excessive personal correspondence may mean that you have applied to several banks or financial institutions for loans. This will have a direct impact on the financial institutions' credit appraisal of you. If a user's letter of request is checked more than four times, he may not be able to apply for credit in certain financial institutions。

In order to understand why the number of letters asked affects personal credit, we need to look at two specific cases: first, if you applied to three banks for loans and sent out money, then when you applied to the fourth bank, they feared that you would be over-indebted and under-repaying because the letters showed the records of the first three. So they might refuse your loan application。

In addition, if you apply for a loan from three banks, but in fact there is no bank to lend, then in your letter of request report you have only the result of a search and no record of the loan. At this point, the fourth bank may have doubts about you because of the refusal of the first three banks as your problem, thus avoiding risk and choosing to reject your application。

Therefore, in either case, frequent inquiries into letters of call may affect your personal credit. Different banks have different requirements for the number of letters requested, and may consult the requesting bank. In general, inquiries cannot exceed six months twice。

In conclusion, while letters of enquiry may have some impact on credit, we need not be overly concerned. After all, not every letter of inquiry has a negative impact。