Will pre-approval affect my credit score?

Answer When mortgage lenders request a copy of a credit report for loan pre-approval, it is considered to be a hard inquiry and can result in a credit score drop of up to five points. Pre-approved credit ... Read More »

Top Q&A For: Will pre-approval affect my credit score

Will closing a credit card account affect my credit score?

Closing a zero-balance credit card account can negatively impact a credit score. This is because a credit score is based in part on the debt to available credit ratio. Therefore, when a zero-balanc... Read More »

If I Negotiate With Credit Card Companies Myself, Will It Negatively Affect My Credit Score?

If you lose your income, you may find yourself with credit card accounts that you are having trouble paying. As these balances become past due and move further into delinquency, account holders may... Read More »

Will a student loan deferment affect a credit score?

On One Hand: Not ImmediatelyHaving a student loan in deferment means you and your lender have arranged to postpone payments for a specific time period. The lender still reports you as in good stand... Read More »

Does loan pre-approval affect a FICO score?

A pre-approval requires a credit check. A credit check by a lender places a hard inquiry on your report and this may lower your credit score by as much as five points. Overall, credit inquiries acc... Read More »