I don%26#039;t know the diff. between a soft pull and a hard pull on your credit score, but I heard that everytime you apply for a loan it will reduce your credit score by 2 points. However, I also heard that once you apply for your first loan your credit remains opened for a 2 week window and as long as you apply to multiple loans in that window each additional one won%26#039;t affect your score. Is this true?
When I apply for multiple autoloans will each affect my credit score?
every time you apply for a loan, your credit is affected. Show up as inquires on your credit report. Also reduces your score if too many are open in such a short time.
When I apply for multiple autoloans will each affect my credit score?
Auto Dealerships usually send out your applications to MULTIPLE creditors/lenders. Each one sent sends a Hard Inquiry to your credit history. It does lower your score, especially if you have alot of the inquiries within 12 months.
When I apply for multiple autoloans will each affect my credit score?
When you shop around for a loan on a big ticket item, such as a car or home, the credit bureaus recognize that you are just trying to be a good consumer, and all of the inquiries on your credit report that are made in the same 30 day period are only counted as 1.
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