How quick does new credit hit your score?

[getsomofthat]

I currently have a $160,000 interim construction home improvement loan. (thanks to this board and working on my score for over a year). The total cost of the project was $210,000. The interim loan is due 8/1 at which time will be refinanced along with my HELOC on a 15 year permanent mortgage. It is my understanding that the bank is going to pull another score prior to the permanent financing. Obviously they pulled my score in January. The project will be complete next week. I am thinking about borrowing for some additional furnishings - say $15K.

My question is if I do that next week or so and schedule the closing on the permanent loan by 5/31, when the bank pulls my score will the the borrowing show up/effect my credit score when the bank pulls or will it not be reported until 6/1 or so? If there is a chance it may bring my score down I will just wait until after closing but really don't want to.

Any input would be appreciated!

[crunching_numbers]

It is very difficult to predict. Different creditors report at different times. Some CC's post to your CR before you even have the card, while others will not post for a couple of months, until a first payment is due.  

For most situations, you are probably safe for a balance not to show up for a few weeks (takes a cycle usually), but the inq will be there within a day or so.

[getsomofthat]

Thanks for the reply! I'm thinking about going ahead and scheduling the closing on the permanent then do the next - not sure yet. I just don't want my score to decrease because of this and possibly affect my interest rate.

Thanks again!

[Anonymous]

So it seems as if the $15K loan is a want not a need at this point. You are FICO smart enough to know there could be a downside and little likelihood of an upside. I think you have answered your own question. Although I too find it valuable to run it by someone else before I decide.