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Does Checking Your Credit Score Lower it?

When you apply for credit, you authorize those lenders to ask or "inquire" for a copy of your credit report from a credit bureau. When you later check your credit report, you may notice that their credit inquiries are listed. It's important to know that there are 2 types of credit inquiries.

Soft inquiries such as viewing your own credit report will not affect your FICO® Scores.
Hard inquiries such as actively applying for a new credit card or mortgage may affect your score. We highlight the differences in the table below.

Soft Inquiry

  • No impact on credit score
  • Used for non-credit-related inquiries, like background checks or loan pre-approval screenings.
  • Not visible to lenders who view your credit report.

Hard Inquiry

  • Potential impact on credit score.
  • Used by lenders when you apply for a loan or credit card.
  • Visible to lenders who view your credit reports.

How much do credit inquiries affect my FICO® Score?

The impact from applying for credit will vary from person to person based on their unique credit histories. In general, credit inquiries have a small impact on your FICO® Scores. For most people, one additional credit inquiry will take less than five points off their FICO Scores.

For perspective, the full range for FICO® Scores is 300-850. Inquiries can have a greater impact if you have few accounts or a short credit history. Large numbers of inquiries also mean greater risk. Statistically, people with six inquiries or more on their credit reports can be up to eight times more likely to declare bankruptcy than people with no inquiries on their reports. While inquiries often can play a part in assessing risk, they play a minor part in only 10% of what makes up a FICO Score. Much more important factors for your scores are how timely you pay your bills and your overall debt burden as indicated on your credit report.

How long do credit inquiries stay on your credit report?

Hard inquiries stay on the report for up to two years, but they only affect the FICO® Scores for a year. Note that on credit reports from myFICO, inquiries are only shown for 12 months (to align with the period when FICO Scores consider inquiries).

Will checking your credit score hurt your credit?

As stated, it’s important to remember that checking your credit score (via soft inquiry) will not hurt your score. Only hard inquiries will temporarily set your credit score back.

What to know about rate shopping

If you were shopping for a pair of shoes you would want to make sure you were getting exactly what you want, right? That means not only how they look, but whether they are comfortable or not, durable, and worth the price. So, rate shopping is a similar concept, just a bit more intricate. Instead of shoes, you are shopping for mortgages, auto loans, and credit cards. When you are rate shopping you compare interest rates, fees, and terms from the different lenders or credit card issuers to make sure you are trying to get yourself the best deal. By doing the research and making comparisons, you are more likely to secure lower interest rates, which can save you more money over time.

However, you need to be careful with rate shopping as it can slightly lower your credit score for a short period. This occurs because when you apply for a loan, the lender will perform a hard inquiry. If you apply for several loans, it will appear that you are taking on more debt leading to a temporary dip in your credit score.

But there is good news! FICO is very aware of the rate shopping practice. FICO® Scores group multiple hard inquiries that are made within a short time frame (14 to 45 days) into one inquiry. This allows you to compare rates and shop around without hurting your credit score significantly.

For FICO® Scores calculated from older versions of the scoring formula, this shopping period is any 14-day span. For FICO® Scores calculated from the newest versions of the scoring formula, this shopping period is any 45-day span. Each lender chooses which version of the FICO scoring formula it wants the credit reporting agency to use to calculate your FICO® Scores.

If you need a loan, do your rate shopping within a focused period such as 14 days, and when you look for new credit, only apply for and open new credit accounts as needed. And before you apply, it's good practice to review your credit report and FICO® Scores to know where you stand.

For loans that commonly involve rate-shopping, such as mortgage, auto and student loans, FICO® Scores ignore inquiries made in the 30 days prior to scoring. If you find a loan within 30 days, the inquiries won’t affect your scores while you’re rate shopping.

What to do if your credit score is affected by credit inquiries

If you're concerned about the impact of credit inquiries on your FICO® Scores, consider these strategies:

  • Do your rate shopping within a focused period – as described above, FICO® Scores consider multiple inquiries within a short period (14 to 45 days) as a single inquiry.
  • Regularly monitor your credit – Check your credit report regularly for free through annualcreditreport.com, or services like myFICO. This allows you to identify any unauthorized inquiries, dispute them, and fix any gaps in your score.
  • Consider a credit freeze or lock – If you're not actively seeking credit, a credit freeze prevents lenders from accessing your credit report without your explicit authorization.
  • Keep paying your bills on time – and remember that FICO® Scores are only affected by inquiries for a year, so any impact will be short-term.

Keep in mind that checking credit reports regularly through a service like myFICO will not affect the score, as you’re getting a soft score.

Want to track how credit inquiries are affecting your FICO® Scores? Sign up for myFICO's Free Plan today to stay informed.

Estimate your FICO® Score range

Answer 10 easy questions to get a free estimate of your FICO® Score range

Estimate for Free

Get your FICO® Score for free

90% of top lenders use FICO® Scores

Get Access Now
No credit card required

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IMPORTANT INFORMATION:

All FICO® Score products made available on myFICO.com include a FICO® Score 8, and may include additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Scores and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.