Credit Advice
Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!
Question
Posted in Credit Scores258 People Helped
When you apply for a car loan, the lender will do a hard inquiry on your credit report, meaning they pull your credit report to check your history and credit score to determine approval for your loan application. Hard inquiries show up on your credit report for two years.
Credit inquiries are one of the five key components that affect your credit score and every hard inquiry will slightly lower your credit score. A lender may perceive a consumer who has had too many credit inquiries as desperate for credit or as a potential credit risk. So be mindful of how many different lenders you go to apply for an auto loan because it can add up to bigger drop on your credit score than expected. Check out the graph of the distribution of credit score to number of credit inquiries from the Credit Karma community for a sense of how many hard inquiries can impact your credit score.
You can check how many inquiries you have at CK, just visit:
https://www.creditkarma.com/report/inquiries
By the way, checking your credit score through Credit Karma is a soft inquiry, not a hard inquiry, and will not lower your credit score.
0 People Helped
I applied for car loan and shop with 3 dealers and 3 banks( Done within 30 days) but reflected as 6 new hard inquiries. It should be one inquiry only as you pointed out. What should I do?

Review by
CK Moderator

Reply by
CK Moderator
0 People Helped
I am looking for a loan for $2000.00. I got scammed in 2007 for $1800 and am still in the hole. I just need this boost to get back on track. I had a bankruptsy in Feb 2009 and now all other debt is coming off and and can pay off the rest. Any suggestions.
Reply to this Question
Write your response:

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.
All Responses