Can I take another "hard hit" to my credit report?

[Anonymous]

Here's my situation.

Back at the end of July, I applied for a motgage and was pre-approved.  My credit score wast just above "Excellent."

Unfortunately, I am looking to buy a forclosure, and the Bank of America is requiring a "pre-approval" from the Bank of America to write a purchase agreement.  I don't have to use them as my lender, however.

My fear is that another "hard hit" from B of A may lower my credit score enough to take me out the the "Excellent" range and get me a slightly lower interest rate.

This would be my second "hard hit" in about one month.  Would this lower my credit score and possibly put me in the Good, but not excellent score range?

[creditwherecreditisdue]

Please direct your attention to the following information, which is available on this site:

http://www.myfico.com/CreditEducation/CreditInquiries.aspx

Good Luck!

[llecs]

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Zinovy wrote:

Here's my situation.

Back at the end of July, I applied for a motgage and was pre-approved.  My credit score wast just above "Excellent."

Unfortunately, I am looking to buy a forclosure, and the Bank of America is requiring a "pre-approval" from the Bank of America to write a purchase agreement.  I don't have to use them as my lender, however.

My fear is that another "hard hit" from B of A may lower my credit score enough to take me out the the "Excellent" range and get me a slightly lower interest rate.

This would be my second "hard hit" in about one month.  Would this lower my credit score and possibly put me in the Good, but not excellent score range?

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Ditto to creditwherecreditisdue. Inquiries within a 14 or 30 day period count as one per scoring, depending on the CRA and the FICO version used.

OP, check your score source. FICO doesn't use the term "Excellent" to describe the score. All FICO sources use "Great". Make sure the score you pulled was a FICO score.

[RobertEG]

Mortgage inquiries are totally ignored by FICO scoring until 30-days after the inq.

Then inquiries within 14 days of one another that are greater than one month ago are, on a sliding window, scored as only one.