Posts: 28
Registered: ‎02-25-2012

Time frame from applying for loan to credit score drop

Hello Everyone!  I have a time frame question. Within a 3- 5 week period I will be applying for a personal loan and moving into an apartment complex that will be doing a credit check. How soon, when a credit check is done, until your score goes down? I would like to apply for the loan now but am concerned that when the application goes through for the apartment complex (3rd week of August?) my score will be already lowered and then I hurt my chances. Does anyone have a rough time fram estimate? Thanks!

Regular Contributor
Posts: 205
Registered: ‎06-04-2012

Re: Time frame from applying for loan to credit score drop

IME, the inquiry from the personal loan will show up almost instantly -I'd say within 1-3 days. Generally, inquiries only ding your score about 5-10 pts. The loan itself generally doesn't show up for 1-3 months. Of course, it all depends on what all is in your credit profile, but the new loan could hurt your score more than just the inquiry, due to 'new credit,' & the impact to AAoA.
Starting FICO 667 (5/2012) EQ
672 (7/2012) EQ. 681 (8/1/12) EQ
Current FICO 682 (10/13/12) EQ; 718 (10/13/12) TU
Goal: 760+ but 700-720 by jan 2013
No new apps tll jul 2013
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on include a FICO® Score 8, along with 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 Score 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.