Saturday, April 26, 2014

How will applying for a personal loan affect my credit score?


I have read the following so far:

"If your FICO score is at all affected, it probably won't drop much. If you apply for several credit cards within a short period of time, multiple inquiries will appear on your report. Looking for new credit can equate with higher risk, but most Credit Scores are not affected by multiple inquiries from auto, mortgage or student loan lenders within a short period of time. Typically, these are treated as a single inquiry and will have little impact on the credit score."

So, they specify for auto, mortgage or student loan lenders… But what about personal loan lenders?

See, I need a small personal loan to move into a new rental, but also need my credit score to remain good to be approved for the rental application with the landlord.

Thank you!

Read more: How will applying for a personal loan affect my credit score?