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credit inquiries by potential landlords

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Anonymous
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credit inquiries by potential landlords

How do inquiries by landlords for rental applications affect scores? In a tight rental market, all (even private) landlords require the credit check, and one might have to apply for many rentals to find one.

 

 

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Anonymous
Not applicable

Re: credit inquiries by potential landlords


@Anonymous wrote:

How do inquiries by landlords for rental applications affect scores? In a tight rental market, all (even private) landlords require the credit check, and one might have to apply for many rentals to find one.

 

 


They are no different than any other inquiry.  Not to sound simplistic but an inquiry from them is just that, an inquiry, no different than any other type of inquiry..  It's impossible to know how it will affect your score.  It all depends on your overall credit file such as other inquiries, number of accounts, etc.  It is possible that it has no effect whatsoever or it could ding your score a few points

Message 2 of 4
RobertEG
Legendary Contributor

Re: credit inquiries by potential landlords

I have never seen a pronouncement from Fair Isaasc regarding the scoring impact of inquiries for rentals from a landlord.

I can certainy see how they are different from inqures relating to credit, and could arguable be scored differently, but would not speculate one way or the other absent a statement from them.

 

Do they even have their own inquiry type code?

If not, it might not be possible to weight any differently in scoring........

Message 3 of 4
Revelate
Moderator Emeritus

Re: credit inquiries by potential landlords


@RobertEG wrote:

I have never seen a pronouncement from Fair Isaasc regarding the scoring impact of inquiries for rentals from a landlord.

I can certainy see how they are different from inqures relating to credit, and could arguable be scored differently, but would not speculate one way or the other absent a statement from them.

 

Do they even have their own inquiry type code?

If not, it might not be possible to weight any differently in scoring........


Some can but I don't know how / if they are included or excluded from scoring.  Like you haven't ever seen something official either way.

 

I had one from a rental application (for an office space, but likely similar service) listed as Miscellaneous.

 

Also had a couple from Verizon lately that are listed as "Telephone Companies."  I don't think it was split up like this previously, a few years back when I had various inquiries it was "permissible purpose / general," "auto," and "mortgage" and I doubt the older FICO versions have anything to exclude them on but maybe the newer ones might.  They really should for all the same reason as those inquiries don't kick people out of the Garden here on the forums: fact is credit reports are being used for all sorts of things they really weren't designed for and it shouldn't be calculated in the same way as credit seeking behavior.




        
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