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Resilientmon…, Other/Just Looking in San Francisco, CA

If I order a credit report, will it hurt my credit score? Also, if multiple lenders check my credit will that also reduce my score? Thanks

Asked by Resilientmonkey, San Francisco, CA Sun May 15, 2011

Help the community by answering this question:


When you pull your own credit it does not reduce your score. When a 3rd party pulls your credit, it does reduce your score. A credit pull by a 3rd party is a minor event in the scheme of things, and it is believed that when several of the same types of companies are pulling your credit in close proximity to each other it is as if only one pulled your score in terms of the effect on your score.

Everyone also has the ability to get all 3 of their credit reports for free once every 12 months by visiting Don't confuse this site with the ones that advertise on TV. While the reports themselves are free, you do have to purchase your scores. I've found that if you purchase each score individually on your initial visit you will get the lowest price per score. They can range from $6 to $12 (it's been about a year since I did this for myself, so I don't recall exactly).

Once you have all three credit reports, review them for mistakes. If you've never done this before it can be pretty surprising what you'll find. One of the 3 I pulled my first time around a number of years ago said I owed a substantial amount of money for medical bills in the state of Texas. I did live in Dallas for one year, but never visited a doctor or hospital and obviously knew it was a mistake. It was a simple matter of using the online dispute form and it was taken off my report and that credit score shot up to where it belonged. I also corrected a number of other mistakes including aliases of my name which I've never used.

This exercise is a MUST if you are about to start shopping for a loan. There is a good chance you will be able to raie your score, and higher credit scores get lower interest rates so it can save you a ton of money. Good luck!!!
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0 votes Thank Flag Link Mon May 16, 2011
Dear Resilient,

My understanding is a "hard inquiry" stays on your record for 2 years. It is also my understanding that this does negatively affect your credit score to a limited extent. The extent of the damage in my opinion is minor, but we can never really know for sure how minor. I believe the impact depends on how many hard inquiries you have in the past 2 years. A "hard inquiry" would include car dealerships, credit card companies, and lenders pulling your credit.

A "soft inquiry" on the other would be when you pull your own credit score for your own personal knowledge from an online source, for example. My understanding is that this doesn't affect your credit score at all, and can be done as many times as you would like.

Hope that helps.

Good luck,
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1 vote Thank Flag Link Sun May 15, 2011
Its good for you to ask questions to understand exactly how your FICO score will be impacted. I would recommend that you check out the MyFICO website - I have pasted the link below. When you do decide to shop for alone make sure you have all the possible lenders you chose pull your credit around the same time for minimal impact.
1 vote Thank Flag Link Sun May 15, 2011
Be careful when pulling your credit too often. When most 3rd parties pull your credit it can effect your score. However if you are having more than one lender pull your score in a short period (usually 30 days) for the sake of doing a loan, it should not effect your score negatively.
0 votes Thank Flag Link Thu Mar 20, 2014
Having your credit pulled by one than one lender will reduced your score, but NOT by an amount that would make you loose financing that you otherwise would be approved for,

You can and should run your own credit report once a year.

Kawain Payne, Realtor
0 votes Thank Flag Link Fri Nov 22, 2013
Ordering your own credit report or score has no impact on your score and does not count like inquiries made by lenders, etc.
0 votes Thank Flag Link Mon Oct 28, 2013
Too many pulls will hurt the score very little and checking with 2 or 3 lenders is exactly what you should do. We typically beat the competition, call or email for a free pre-approval in less than 10 minutes. We lend our own money and can do deals that banks turn down.

We can do: FHA, Conventional, USDA, VA, HARP, Interest Only, Home Equity, Fixed, and Variable. Find out which product is right for you by calling Brad at (855) 415-5626.

Brad Neumann
Sr. Loan Officer
Crosscountry Mortgage Inc.
Toll Free: (855) 415-5626 ext. 5734
NMLS# 948036
0 votes Thank Flag Link Sat Oct 26, 2013
Yes and no. If you get a single score report pulled, typically this will not affect your score adversly. If you get a report pulled with all three scores this will most definitely affect your score each time.

There are laws to protect you while you shop. One of which is call the FCRA. This Fair Credit Reporting Act can protect you while you shop around for the SAME TYPE OF CREDIT. Hope this helped.
0 votes Thank Flag Link Mon Jul 1, 2013
Thank you all for your responses
0 votes Thank Flag Link Wed May 18, 2011
Good morning. There is no reason for you to run multiple credit reports. Prior to running your report, you should interview 3 different mortgage professionals.

Ask the same questions. What kind of fees do you have, ( ask them to give you a breakdown so there are no hidden fees) what kind of loan programs do you have, what are their rates today, and ask them how long do they need for a loan contingency when you get into contract. This is very important when negotiating a purchase contract because sometimes you can get your offer accepted when you are not the highest offer because you have better terms.

This is an easy process that can be done in 3 phone calls. Once you have the information and decide who to work with, then have that person run your credit.

NOTE, interest rates change 3-4 times a day so you will not be able to lock in your rate, but you will be able to get an idea who has better loan that fits your needs.

Feel free to write with any questions.

Coldwell Banker
0 votes Thank Flag Link Mon May 16, 2011
Hi, you are entitled to a free credit report once a year, just go to As for the inquiries it depends on how far apart the pulls are and what they are for.

0 votes Thank Flag Link Mon May 16, 2011
Your credit report needs to be ordered for you to receive a preapproval. Talk to a few lenders and then select one. Don't make it difficult.

Happy funding, Rudi
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0 votes Thank Flag Link Mon May 16, 2011

This can be a complicated answer. Normally, many different companies pulling your credit can negatively impact your score. However, from my understanding, when you are pulling your credit through an approved credit reporting agency used for shopping home loans, the FICO system has a way of determining what type of inquiry it should report; therefore, when you pull credit a few times, it may not negatively impact your score.

However, I recommend that if you are pulling your credit report multiple times and shopping for a home loan, have the loan officer that initially pulled your credit report send you a copy of that tri-merged credit report. That report is accurate for up to three months for a pre-approval and that should be sufficient for any loan officer to use to determine a pre-approval status.

Michael Abram
First Capital Mortgage
NMLS #235060
Direct: (310) 434-1718
0 votes Thank Flag Link Sun May 15, 2011
Usually, a single inqurie will not hurt your credit score. Mutiple inquiries can hurt your credit score. However, it is not uncommon for your credit report to show multiple inquries when your are buying a home. Sometimes these inquries will be overlooked if they are for the same purpose and are under normal conditions.
0 votes Thank Flag Link Sun May 15, 2011
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