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 Auto Loans
Profile Image

Question By
Desertsp

0 Contributions
0 People Helped
Grace period for multiple inquiries?
I applied for an auto loan just to see what I would be approved for (USAA customer service wouldn't even take a guess without running a hard inquiry).

When I re-apply for the actual loan, potentially months from now, will that initial hard-inquiry hurt me?

I understand that "loan shopping" is tolerated but only within a certain window of time I am buying used car with a specific make/model/year, so it's going to take months to find the right vehicle to buy. What's the risk that I'll be in a higher interest rate bracket the second application?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
935 Contributions
133 People Helped
Most Helpful Response

Helpful to 1 out of 1 people

The window that some creditors use is 14 days, while others don't allow any window whatsoever.    The minor drop of hard inquiry should have no major damage to your credit score unless you do a massive amount or your score is fairly low.    When there is a hard inquiry on your account which does not result in an account, it gives some indication that you were turned down as opposed to the other way around.   Some creditors then look hard to see why you were turned down, others look at the numbers (Utilization, payments, etc.) although if if report is good overall, there would be no need to worry.

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

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.