"Start-up" credit checks

[Anonymous]

Hello,

My wife and I have lived in Korea since we graduated from college in 2007, but we're returning to the States this summer. We're going to need a few things: cell phones, car insurance, health insurance, and an apartment - all of those "start-up" things. I understand that applying for most of these services involves credit checks.

Having paid off the last of my substantial credit card debt this year, my scores are pretty good - EQ 770 a/o earlier this month. I'm concerned that all of these credit checks are going to put a substantial dent in my scores.

Do the items I listed above count as "hard pulls?" Will they impact my scores?

I'd appreciate some insight. Thanks! :-)  

[llecs]

Inquiry damage is overrated. However, most of the damage, if any, would occur to scores around yours. Law of diminishing returns comes into play where the first couple, assuming you have zero now, would likely ding you in the single-digit range. After that, damage would be almost nil. I personally wouldn't worry about. The real damage comes when new accounts report, but none of those you mentioned will report.

Historically for me, car insurance, health insurance, and cell phone did not result in an inquiry. I don't know about an apartment, but was turned down for an apartment over a decade ago due to my credit report. So, maybe.

[Anonymous]

Most cell phone companies, utilities and insurance pull "soft" inquiries, which don't impact your score at all.

Tenant screening (apartment) sometimes is soft, but can often be a hard pull.  A single "tentant" inquiry won't affect you very much, if at all.  With that said, don't make applications at 15 places who all pull your credit.  Narrow it down and be selective.

Message Edited by txjohn on 05-19-2009 06:36 AM

[MattH]

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@Anonymous wrote:
...

Tenant screening (apartment) sometimes is soft, but can often be a hard pull.  A single "tenant" inquiry won't affect you very much, if at all....

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How common is it actually for landlords to pull credit reports, just out of curiousity?  Neither my wife nor I ever had a landlord pull our credit histories, but since we've owned for seven years and spent ten years in one rental place before buying our last rental application was in 1992 so I don't know much about the current rental world.