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does getting a credit report lower my credit score? is it even noticeable? by KBrofl_911_827 from Englewood, Colorado. Sep 7th 2012 Reply


Travis Torcoletti (travis.torcoletti)
#0 ranked lender in South Carolina - 372 contributions

If you get multiple credit inquiries to have credit extended to you in a short period of time it will have a negative, or lowering effect, especially if you are getting denied. It's difficult to say exactly how much, maybe 3-5 points is what I've been told, because all of those entities that calculate your score will treat it differently. However, if you just go to each of the 3 bureaus and get your one free annual report then that will not affect you in any way.

Sep 7th 2012
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,553 contributions

When you apply for a mortgage, and you call 5 different lenders, and they all run your credit within the same 30 day time frame, only the first inquiry will affect your credit score.. The remaining 4 inquires will not... likewise if you go and apply for a car loan, the same applies.. How much does your credit score drop.. if you have really high scores, it won't be much.. Maybe 2-5 points.. if you have low credit scores, it could be more significant.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Sep 7th 2012
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Peter Botros (PeterBotros)
#70 ranked lender in New York - 895 contributions

The amount that your credit score will drop is generally trivial unless you are on the cusp of a particular credit tier. Your credit score will drop from pulls due to the anticipation of extended credit. shopping around for that credit will not have an additional negative impact.

Sep 7th 2012
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Will Rogers (WRMtg@comcast.net)
#57 ranked lender in Colorado - 3 contributions

Yes if it for a mortgage application. It will drop an 800 FICO by 5 points and a 500 FICO by 1 point. There are consumer protection laws that allow for shopping within a specific industry for 14 days. However, the formulas that calculate credit scores rely on credit providers to prescreen and delete inquiries within that occur within same industry. This responsibility often slips through the cracks.

Sep 7th 2012
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Bert Carpenter (BertCarpenter)
#38 ranked lender in Arizona - 1,819 contributions

Usually a single pull will not impact your score. Even several pulls from the same industry in a short time period will have little or no impact. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com 888-889-9950

Sep 7th 2012
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