Many lenders understand a series of credit report
inquiries over a short period of time.
The credit bureaus view any related
inquiries over a short period of time to be a single inquiry.
Not exact matches
The more major
inquiries into your credit history
over a
short period of time, the more it can hurt.
According to Experian ™ multiple
inquiries from similar lenders
over a
short period of time should
Numerous hard credit
inquiries can have a negative impact on your credit score if they involve multiple types of credit
over a
short period of time.
This may sound paradoxical, but companies that formulate and sell credit scores consider an abnormal (whatever that may mean) number of credit
inquiries, particularly
over a relatively
short time
period, to be an indicator of higher - than - average credit risk.
While auto, mortgage and student loan applications
over a
short period of time are treated as one single
inquiry, that is not the case for credit cards.
The multiple credit
inquiries on your report
over a
short period of time won't hurt your credit score, according to Bankrate.com.
Avoid excessive
inquiries - A large number of
inquiries occurred
over a
short period of time may be interpreted as a sign that you are opening numerous credit accounts due to financial difficulties or overextending yourself by taking on more debt that you can or can not easily repay.
New creditWhen it comes to applying for additional credit, an individual's score usually drops when too many credit
inquiries are made
over a
short period of time.
If you've applied for several accounts
over a
short period of time, the damage from the hard
inquiries adds up and may spook other lenders.
A hard
inquiry typically dings your credit score by five points or fewer, but a flurry of them
over a
short period can lead to a significant score drop, as it indicates that your financial situation may be in flux.