Hard Pulls and credit score

[Carloscda40]

Wanted to know how many points does a HP drop your credit score?

Does it matter if your're approved or not?

[Anonymous]

1-10 or so. And doesn't matter if approved or not.

But approval could mean a score increase or decrease due to changes in other areas.

[Kforce]

Yes  it varies and can be up to about 10 points but most see 4-7 points. It does not mater if you get the CC/Loan or not.  If you get the loan/CC other factors come into play. You can improve your overall credit limit which helps with utilization and sometimes another credit cards can also give small increases. The "AAoA"'s will take a hit with a new CC and depending on age and number of other accounts can be very small to a larger hit. If the HP was for a car, mortgage or personal loan it might add credit mix and give you points. No two profiles are the same and you could see quite a few points either side of where you started. The HP will fall off your score at a year and most of the loss will be back in 6 months. The other factors all have different time tables.

[Anonymous]

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Wanted to know how many points does a HP drop your credit score?

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It's all profile-specific.  One person could lose 0 points from a HP, where someone else could lose 10 or more.

[pipeguy]

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@Anonymous

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+1 Correct on profile specific and it all depends on how many you have. Generally, the first 1 to 4 will ding you, but over a certain point they have no effect in my experience. Several years ago I was opening 3-4 accounts a year to take advantage of 0% intro promos and spending bonuses, basically said to "heck" with inquiries, I managed to make $500+ in cash back each year and generally had at least 3 or 4 cards with 0% apr for everyday spending - inquiries had no effect on my scores (admittedly they were all over 740+ at the time) however, if you have no inquiries on your report a new one will ding you 10+/-points which is no big deal if you are reporting 760+ credit scores, but a big deal if you are running 690-719 just below the 720 "prime" scores (seems to have moved up to 760+, but 720 will still get you about anything you app for). 

[Anonymous]

My understanding has always been that somewhere in the range of 12-14 inquiries one maxes out and that any additional inquiries over that point, even 50 more would result in no additional score drop.

[Anonymous]

Thanks for sharing this ! I just recently had 2 hard pulls ... one for NFCU Cc and the other for a mortgage within the past week. I have about 15 hard pulls and I was worried about how much my score would drop because of these last 2. I haven’t seen a score drop yet.. fingers crossed!

[Anonymous]

Did the inquiries show up yet on your credit report? Usually they will right away so if your score is generated after they have appeared you will know immediately if you lost any points or not.

[NRB525]

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@Anonymous wrote:
Thanks for sharing this ! I just recently had 2 hard pulls ... one for NFCU Cc and the other for a mortgage within the past week. I have about 15 hard pulls and I was worried about how much my score would drop because of these last 2. I haven’t seen a score drop yet.. fingers crossed!

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If you already have 15, and many are in the past year, many in the last 6 months, there may be less score impact from new HP. There is some impact, but it becomes more of a maintenance of the drag on score. As those HP all age off, the drag is reduced and, all else equal, the score can begin to rise.

[Anonymous]

I received an alert from Credit Karma, Credit Wise and Wallet HUB about the Navy Fed Inquiry yesterday but nothing from MYFICO yet.