is this true?

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someone told me that the more someone checks your credit report ( like for loans ) it lowers your credit score. is this true?

2007-09-30 15:31:05 · 2 answers · asked by surethang 1 in Business & Finance ➔ Credit

2 answers

Yes , unless they are all similar within a few weeks ,
Like multiple mortgage inquires .

Check the FAQs

http://www.myfico.com/

>

2007-09-30 15:35:54 · answer #1 · answered by kate 7 · 0⤊ 0⤋

Yes it's true, I'm a finance person but i'm telling you the simplest version possible. Loans and especially credit and car loans are the worst. Basically when they check your credit history it means that they are not trusting you and need to varify and each time your points decrease.

2007-09-30 15:34:40 · answer #2 · answered by diana 2 · 0⤊ 0⤋