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effect on credit score due to shopping for the best deal

Posted on: 24th Jan, 2006 12:37 pm
I want to shop around for the best mortgage deal. For that the lenders will check my score. Will this affect my credit score? If so, what alternative do I have to shop around?
Hi Nestor,

Shopping around for a mortgage deal doesn't indicate that you are applying for it. So, it is not going to affect your score.

Posted on: 24th Jan, 2006 12:48 pm
Hi Nestor,

To get the best deal, you have shop around and look for the best offer. There is no alternative to that.

This doesn't affect your score. Only thing is that, you have to shop around within a short period of time. Inquiries spread over month may damage your score.

Scorers generally treat same inquiries that occur within 14 days period as a single inquiry. You have a chance to minimize your score from getting affected by making each shopping within 14 days or less.

Posted on: 24th Jan, 2006 12:58 pm
Will it affect if I order my credit report rather than my lender?

Posted on: 24th Jan, 2006 01:03 pm
Hi Nestor,

An inquiry made by you, to the credit bureau will not affect your score. It will only get affected if it is made through a loan provider.

Posted on: 24th Jan, 2006 01:08 pm

If you are planning for repayment and you search for a good lender it will not effect your credit score. Even you want to pull up your credit report by your own then also it will not effect your credit score. Until and unless it is reported to the credit bureau by the creditors it will not effect your credit report anyway.
Posted on: 07th May, 2010 07:02 am
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