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Originally Posted by Agamemnon
Numerous credit checks can also hurt your credit rating by up to 10%. I was applying at a lot of insititutions for credit cards when I was younger and learned that all those applications labelled me a 'credit-seeker', which downgraded my likelihood of getting a card. Eventually I had to walk in to Scotia and 'force' them to give me a card.
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That is such a blatantly unfair rule. I don't think it should be legal. People should be allowed to shop around for the best rates, and shop around for better re-financing options without penalty. I guess the creditors don't want you to be shopping around for a better deal.