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Posted in Auto Loans
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Question By
Probum

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I need a car loan
lowering my credit utilization but it didn't work because my score didn't change a week ago. As a result I applied and was approved with one finance company but I don't like the interest rates they offered. I found another company I like better but will another hard inquiry lower my score?

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You have been on this site two years longer than I and still don't know that answer?  Have you read any of the articles?  I did, made needed changes and now have a very good score.  Score improvements often come after the credit card companies report to their credit bureaus, and that is usually monthly, not weekly. If your score is lows enough to get high finance rates, it's possible the dealership may have to run your credit several times to get the best rate, and that can hurt your score.

Reply by
Probum

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Well you know everybody's situation is different and I don't come here very often. Sometimes my score shot up without me doing anything and sometimes it dropped the same way. I had a chance at a good deal and tried to jump the gun I guess.

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