Home  >  Financial Articles and Q&A  >  Does every hard credit inquiry impact my credit score?

Does every hard credit inquiry impact my credit score?

Are you allowed a certain amount of hard credit inquiries in a certain time frame without it affecting your credit score? Or does your credit take a hit every time? And how long does that ding show?

Feb 27, 2012 by Rohan from Bellevue, NE in  |  Flag
2 Answers  |  3 Followers
Follow Question
2 votes

Generally, all hard credit inquiries impact your credit score. Keep in mind that if you are applying for an auto loan or visiting a car lot and they perform a credit report, not every one of the inquiries will have the same impact. While the credit scoring formula is not specifically known, the credit scoring models do take into account that someone looking for a car may visit a few dealerships over the course of a week. The same can be said about mortgage inquiries over the course of a couple of weeks.

Comment   |  Flag   |  Jul 08, 2012 from Amesbury, MA

1|600 characters needed characters left
1 vote

Rohan - Any "hard" credit inquiry will typically impact your credit score, whereas "soft" inquiries generally do not.

Soft inquiries are where your credit isn't being reviewed by a prospective lender, and hard inquiries are a result of application for credit.

For more information on this, check out the following information on the myFICO site:

http://www.myfico.com/crediteducation/questions/inquiry-credit-score.aspx

Comment   |  Flag   |  Feb 28, 2012 from Atlanta, GA

1|600 characters needed characters left