will the number of inquiries on my credit report affect my credit ?

posted by askmrcredit on (6 years, 9 months ago)

This depends on what kind of inquiries they are, and even on the type of credit you are applying for. Usually, lenders consider several applications for credit over several weeks or a few months to be a bad sign that you are overextending yourself and taking out too much credit. However, potential lenders don't see all types of inquiries, including those made by your current creditors for account monitoring purposes, review by banks wishing to send you an unsolicited credit offer or your own inquiries (these show up when you ask for a copy of your credit report).

Recently, lenders have relaxed their standards somewhat when it is obvious that an applicant is shopping around for a good rate on a car loan or a mortgage. Therefore, if you have multiple inquiries from car loan companies or mortgage lenders in a window of a few weeks, this may not negatively affect your credit standing.

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