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Member
patsym
Posts: 7
Registered: ‎06-06-2007

Does pulling my Score lower my Score?

Is that correct?  This is what the Mortgage Loan officer at my bank told me.  I know applying for credit or rate shopping can affect the CR for a short time.  But I didn't know pulling the Score could be bad.
 
Thanks
Valued Contributor
TheNewWorldMan
Posts: 2,374
Registered: ‎03-15-2007

Re: Does pulling my Score lower my Score?

NO...pulling your own score does NOT affect your credit score.
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in a credit-scoring postnuclear Stone Age...
Moderator Emeritus
fused
Posts: 16,256
Registered: ‎03-12-2007

Re: Does pulling my Score lower my Score?

NO!!!!!!!!  Mods please bump
Credit Cards:
Amex BCP 25K ~ Amex Clear 25K ~ Amex Platinum NPSL ~ Chase Freedom Visa 19.3K ~ CITI Dividend World Mastercard 20.3K ~ FIA Fidelity Investments Platinum Plus Visa 40K ~ First Hawaiian Bank Gold Visa 10K
New Member
Global1
Posts: 3
Registered: ‎06-07-2007

Re: Does pulling my Score lower my Score?

Per the info on credit inquiry impact on my fico.com here is a more in depth answer to your question:
 
What to know about "rate shopping."

Looking for a mortgage or an auto loan may cause multiple lenders to request your credit report, even though youre only looking for one loan. To compensate for this, the score ignores all mortgage and auto inquiries made in the 30 days prior to scoring. So if you find a loan within 30 days, the inquiries won't affect your score while you're rate shopping.

In addition, the score looks on your credit report for auto or mortgage inquiries older than 30 days. If it finds some, it counts all those inquiries that fall in a typical shopping period as just one inquiry when determining your score. 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 score.

Hope that helps!

Moderator Emeritus
Tuscani
Posts: 6,182
Registered: ‎03-29-2007

Re: Does pulling my Score lower my Score?

I see the new versions allow 45 days now! Nice!
Senior Contributor
Noah_Bodie
Posts: 4,635
Registered: ‎03-11-2007

Re: Does pulling my Score lower my Score?

Pulling your own report or score results in what is sometimes called a "soft" inquiry. "Hard" inquiries are those that occur when you request credit from a lender. "Soft" inquires don't even show up on your report, in some forms, but they always have zero impact on your FICO scores.
 
Frequent Contributor
MercyMe
Posts: 429
Registered: ‎04-07-2007

Re: Does pulling my Score lower my Score?

Hummmm ... For reasons of "permissable purpose" I have been hestitant to dispute several double-reported hard inquiries, on my credit reports -- such as two hits within two days from Credstar, during the time I was refinancing the house.  Should I dispute these? 
Moderator Emeritus
Tuscani
Posts: 6,182
Registered: ‎03-29-2007

Re: Does pulling my Score lower my Score?



MercyMe wrote:
Hummmm ... For reasons of "permissable purpose" I have been hestitant to dispute several double-reported hard inquiries, on my credit reports -- such as two hits within two days from Credstar, during the time I was refinancing the house.  Should I dispute these? 


Technically Credstar still has PP. I would kindly ask them to remove any dupes.
Member
clownsquad
Posts: 5
Registered: ‎05-11-2007

Re: Does pulling my Score lower my Score?

with apologies, i'd just like to be clear on this... using myfico to get my fico scores does not lower my scores and, in theory, i could pull these scores monthly with no adverse effect?
Moderator Emeritus
Tuscani
Posts: 6,182
Registered: ‎03-29-2007

Re: Does pulling my Score lower my Score?



clownsquad wrote:
with apologies, i'd just like to be clear on this... using myfico to get my fico scores does not lower my scores and, in theory, i could pull these scores monthly with no adverse effect?


Correct. Many of us pull our scores\reports daily.

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
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