Is it true that your credit score is reduced by one point every time someone looks at your credit report?
Answer:
No.
The only thing that hurts are Hard pulls(actually applying for credit) and they will usually drop you a lot more than one point.
Soft pulls such as pre-approved offers or companies just updating their files do not affect your score.
EDIT:
Amanda H is incorrect. Soft pulls such as those for pre-approved offers do not affect your score.
aproximately, yes. It has to be an inquiry like if you are applying for a loan/credit card, not if you look at it yourself. And if you have several pulls within a week period, they dont all neccessarily ding you- they are lumped together.
There is no hard and fast rule about the exact amount it dings you, though.
they do affect your score if you have alot of them. I have had to send multiple letters to capital one as well as others as my score went from 715 to 690 in 6 months without any new cards or applying for any new credit. I was getting anywhere from 5-10 credit card offers a week though and found that it was affecting my score.
I don't know how many points it takes off, but it does reduce your credit, and aergo, most likely, your credit score.
yes this is true.
------------------------------.
http://www.bestcreditrates.net
The answers post by the user, for information only, BAnswer.com does not guarantee the right.
Other Questions and Answers: