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Does Applying for Loans and Credit Drive Down Your FICO Credit Score

by Larry Chiang on January 16, 2012

Larry Chiang shows you his signature moves by taking you behind the scenes to break down how business really works. He edits the Bloomberg BusinessWeek channel “What They Don’t Teach You at Business School”. After Chiang’s Harvard Law keynote, Harvard Business wrote: “What They Don’t Teach You at Stanford Business School“ (its the same title as his NY Times bestseller). He is Entrepreneur in Residence at Stanford University. If you read his hilariously awesome “What a Supermodel Can Teach a Stanford MBA” and “How to Get Man-Charm”, you will like his latest post:

Does Applying for Loans and Credit Drive Down Your FICO Credit Score

By Larry Chiang

Seeking that higher credit score while you’re applying for credit is like begging for LP money as a VC at Venture Alpha. It is hard to be dignified when you’re applying.

Here are the credit patterns I observe. I recommend that you pattern iterate and pattern replicate your way to better FICO credit score.

If you are applying for credit, then you and your social security number gets pinged for an INQ. This is a credit INQ and it slightly dings your credit. INQ is credit inquiry.

You wanna fax your credit report — especially if you’re applying for credit as a corporation

If you are applying for credit as a corporation, you are slightly dinged even more when you do not have a fax machine. Companies with fax machines have way more revenue that companies that use jFax, eFax or MyAssFax.

When you’re applying for a personal car loan, you wanna fax or email your credit report to all the people you want a loan from so that they all don’t pull your credit report. You get bonus points for faxing your credit report for your work’s fax. By being at work using their fax you are basically confirming your employment too.

Stop mentally arguing about the pattern I recognize.

The credit world is a world based on laws that favor the use of paper and snail mail postage in the form of a US postage stamp. The rules of credit are written this way so your FICO score is protected via mail and postage (not email and world wide web)

Read about inquiries by googling: Larry Chiang credit hacks inquiries.

This is me:

Larry Chiang
CEO, Duck9
Stanford University’s Entrepreneur in Residence

Duck9 = Deep Underground Credit Knowledge 9
125 University Ave Suite 100
Palo Alto CA 94301

Editor of the BusinessWeek Channel “What They Don’t Teach at Business School
NY Times Bestselling Author
“What They Don’t Teach at Stanford Business School”

650-566-9696 (direct)
650-283-8008 (cell)


If you liked this…
Larry’s mentor Mark McCormack wrote this in 1983.
His own book came out 09-09-09. It is called ‘What They Don’t Teach You At Stanford Business School

*** BONUS ***
a party invite for you…


This post was drafted in an hour and needs your edits… email me if you see a spelling or grammatical error(s)… larry@larrychiang com

Larry Chiang started his first company UCMS in college. He mimicked his mentor, Mark McCormack, founder of IMG who wrote the book, “What They Don’t Teach You at Harvard Business School”.
Chiang is a keynote speaker and bestselling author and spoke at Congress and World Bank.

Text or call him during office hours 11:11am or 11:11pm PST +/-11 minutes at 650-283-8008. Due to the volume of calls, he may place you on hold like a Scottsdale Arizona customer service rep. If you email him, be sure to include your cell number in the subject line. If you want him to email you his new articles…, ask him in an email :-)

You can read more equally funny, but non-founder-focused-lessons on Larry’s Amazon blog .


What A Super Model Can Teach a Harvard MBA About Credit
View more presentations from Stanford University, Bloomberg BusinessWeek, GigaOm, TechCrunch, VentureBeat and 13 Syndicated Outlets

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