How many points are deducted from my credit score when a company checks it?

Answer 1

2 points per credit inquiry if you applied for credit. You can also get your credit score for free withut effecting the score, and your current creditors (Credit card, auto insurance loans etc) regularly do "Soft Pulls" to check your score which do not imapct the score. Although this was not true in the past, if you apply to multiple banks for say an auto orhome loan within 30 days, you typically do not get dinked more than 2 points as the bureaus roll those together since you are looking for one line of credit, but from multiple lenders. It was a result of the LendingTree type models where your credit gets pulled multiple times on one request for credit.

Answer 2

It depends on the lender... you haven't got one credit score that every lender uses - points are allocated for every piece of relevant information from your credit history and application form. Some lenders have different levels of risk and so a lower score will be accepted by one lender but not another or they might target a specific sector of the population. Several searches on your credit record will look bad for a few reasons: you might have trouble getting credit and so if several lenders have declined you another one may not want to take on the risk, or you may have taken out tons of credit and so over committed yourself or it can be a sign of identification fraud. My advice to have a fewer searches against you as possible and if you are declined for credit rather than just applying somewhere else get a copy of your credit file from the major credit bureau's.

Answer 3

So far everyone is wrong. Inquiring are one of many factors used to compute your credit score. they don't deduct points for an inquiry, they recompute your score with an addition inquiry in the formula. The amount of change depends on your entire credit report.

Answer 4

each and every time somebody exams your credit it eliminates 5 factors out of your score. regardless of if, this could in basic terms take a optimal of 30 factors off of it. it is going to take approximately a month for it to ensue. for the reason which you would be stepping into right into a economic settlement and you initiated the examine, it is seen a hard inquiry.

Answer 5

You can loose any where from 5 and up depending on what gets checked.

Answer 6

None they don't take points on your score.

Answer 7

Just http://www.google.com/ It.