When your credit is checked, does that lower your credit score?

Question

I am looking for a new apartment.
I was told by my friend that when apartments run my credit, it lowers my credit score. I don't think it really makes sense because they are just checking if I qualify or not.
But is it true??? Could someone tell me?

Answer 1

Yes, your score goes down....However, if they only pull a credit report from say..Experian that score will go down and the other two will remain the same.
All inquires will stay on your credit report for 2 years then drop off. Try not to have your credit pulled to many times in one month. If you have revolving credit or loans, and you make your payment a couple of times, your scores should go back to where it was when you had it pulled the first time.
If you go to...www.privacyguard.com
you can sign up for one month for $1.00 (I believe its $12.95 thereafter) and you can keep track of your fico scores and see who is pulling your credit. The worst things to have on your credit report to bring your scores down the worst are collections, judgements and charge offs.
Also, try not to max your credit cards. On credit cards try to always keep your balance at half of your limit to maximize your fico scores and never 30 days past due. On loans, try not to pay 30 days late either.

Answer 2

Its only 2 points. If you are shopping for a new car for instance and are asked to run your credit at different dealerships do not worry. All credit checks in a 2 week period are treated as one and you only get wacked 2 points. With a credit point range of 350 to 850, 2 points is insignificant.

Answer 3

No,but you have to make sure you have your credit cards under there limit-On the 5th of the month if your credit cards are under the limit do a credit check on Equifax with your fico score.This will be on your credit for the whole month-then 5 days later apply for the new appartment-you should be okayOnly applying for credit cards when you above your credit liit will really lower your score for 6 months..Good-luck!!!

Answer 4

Credit inquiries to check credit should not reduce your score....HOWEVER, credit inquiries to offer you credit will in fact reduce your credit score. Someone said 2 pts...bogus. Each reporting agency is different. The amount that the score is "lowered" is so nominal that you may not see it happen.

Answer 5

Yes, everytime your credit is checked it will cost you 20 points..been there and done that... So try to limit how many times you do this. However when reading your credit report they do see that these are not paid or unpaid debts. Hope this helps

Answer 6

Counts as a INQUIRY, shows up in the back of your credit report under "Inquiry". Agencies know when your looking for a new home loan, if your moving, or shopping around for a new car. It would take a lot of inquiry's

Answer 7

It will lower your credit score each time. So be careful who and how often you get your credit ran. Mostly by car dealerships or credit card companies.

Answer 8

My understanding is that yes, someone checking your score (including yourself) is detrimental (sp?) to your score. I'm not sure why, but I know it happens. Checking your credit REPORT, however, does NOT affect your score.

While checking your score hurts it, it isn't THAT terrible a thing to have on your report.

Answer 9

just one, NO but if several inquiries then yes can lower scores.
the more times your credit is looked at the lower it goes....

Answer 10

Yes it does. When I was trying to get a car the lady there told me that it does. I don't know by how much though.