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If i check my credit for free and then a lender pulls my credit will it hurt my fico score?

I'm considering refinancing but haven't seen my credit in a few years. I want to see if i even have good rates and if a refinance would even help. I don't want to pull it twice in a year if it will hurt my score though. by brian13lewis.k394 from Madison, Wisconsin. Dec 2nd 2013 Reply


Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,993 contributions

No.. The fear of lower credit scores from inquiries is highly misplaced... It isn't anywhere near what people think it is. Don't worry about it.

Dec 2nd 2013
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Troy DeWitt (troy@allcredit.com)
#18 ranked lender in Wisconsin - 4 contributions

Nope. Just an FYI, the credit score you get may be different than a credit score lenders would use. So when a lender checks your credit it could be different than what you thought.

Dec 2nd 2013
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Brad Tindal (Brad.Tindal)
#43 ranked lender in Wisconsin - 9 contributions

Brian,As stated above the fear of credit inquiries isn't as big of an issues as most people think. The big thing is not having lender after lender pull your credit this is where the issues come in. Before you or anyone pulls your credit it may be a good idea to see if there is a good option for you to refinance into. I would be happy to discuss your options before credit is pulled and I am local to the Madison area. Thank you,Brad

Dec 2nd 2013
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Steven Brand (stevenbrand)
#2 ranked lender in Minnesota - 112 contributions

As others have mentioned... the myth of a couple credit pulls destroying your credit is just that... a myth. If you're still concerned I'd suggest talking, emailing or IM'ing a local "mortgage guy" and review your current accounts (length of accounts, limits and balances) along with your current housing situation and they'll most likely have an idea if a credit pull would be warranted. They'll most likely be able to know before a credit pull if a refi may even be possible or make sense too. Good Luck

Dec 2nd 2013
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Rob Miller (LenderTimes)
#41 ranked lender in Wisconsin - 13 contributions

It will not really affect yur credit...the free credit pull is a soft credit pull...it doesnt pull your true scores. IE you go to freecreditreport.com or credit karma. Truly the max your credit inquiries will ever effect your score is around 10% of your total. score... Do not listen to other that tell you to not go shop around from lender to lender...they are absolutely INCORRECT....The FICO scoring model takes into account where the credit pull is coming from...and if you had your credit pulled by 500+ mortgage companies in the same 45 day period...they total one inquiry. the FICO models used understand that you are not applying for 500+ mortgages but shopping arounf for the best deal...it works the same as with getting a car loan...All other HARD inquries count as one...So dont apply for a ton of credit cards or other revolving accounts....If you haver any other questions, please feel free to call me directly...I am also in Madison...You can reach me at 608-227-2002

Dec 3rd 2013
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Pam Schubert - VA certified loan specialist (pschubert)
#17 ranked lender in Wisconsin - 24 contributions

It will not hurt your score, unless you let a bunch of people pull it...I would advise you not to go from lender to lender and have your score pulled....this will hurt your score. You may want to get it pulled to see where your score is at if you are looking to refinance. Pulling your score now can let you know if you need to work on building your score higher or if your score is fine for refinancing.

Dec 2nd 2013
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