How Many Hard Credit Inquiries Is Too Many? (2024)

FAQs

How Many Hard Credit Inquiries Is Too Many? ›

Since hard inquiries affect your credit score and what is found may even affect approval, you might be wondering: How many inquiries is too many? The answer differs from lender to lender, but most consider six total inquiries on a report at one time to be too many to gain approval for an additional credit card or loan.

If you find a loan within 30 days, the inquiries won't affect your score while you're rate shopping. The credit-scoring model recognizes that many consumers shop around for the best interest rates before purchasing a car or home, and that their searching may cause multiple lenders to request their credit report.

How Many Hard Credit Inquiries Is Too Many? There's no hard and fast rule for too many credit inquiries, as the impact of your inquiries on your credit score depends on various factors, such as the type of credit you're applying for, the length of your credit history, and your overall credit utilization.

How do hard inquiries impact your credit score? A hard credit inquiry could lower your credit score by as much as 10 points, though in many cases, the damage probably won't be that significant. As FICO explains, “For most people, one additional credit inquiry will take less than five points off their FICO Scores.”

Each hard inquiry can cause your credit score to drop by a few points. There's no such thing as “too many” hard inquiries, but multiple credit inquiries within a short window of time can suggest that you might be a risky borrower.

If you collect about six hard inquiries within a two-year period on your credit report, you may have a difficult time getting approvals for future cards and other lines of credit.

Unfortunately, there are no secret ways to remove hard inquiries from your credit report unless they are there in error. If you see a hard inquiry that you did not authorize, you can file a dispute with the three reporting credit bureaus and the business that reported the information.

Hard inquiries fall off of your credit reports after two years. But your credit scores may only be affected for a year, according to credit-scoring company FICO®. “Although FICO Scores only consider inquiries from the last 12 months, inquiries remain on your credit report for two years,” the company says.

Can I do multiple hard inquiries count as one? ›

Hard inquiries usually impact credit scores. Multiple hard inquiries within a certain time period for a home or auto loan are generally counted as one inquiry.

Your credit score does not go up when a hard inquiry drops off your credit report. Your score will not go down when a hard inquiry drops off, either. Instead, a hard inquiry (or hard credit pull) stops having an impact on your credit score after one year, which is one year before it drops off your credit report.

If you request a credit limit increase, your credit card issuer may perform a hard inquiry on your credit, which may temporarily lower your credit scores. If an issuer automatically raises a cardholder's credit limit, it may involve a soft inquiry, which doesn't affect credit scores.

In certain circ*mstances, an unapproved inquiry can be removed from your credit report by sending a credit inquiry removal letter to the credit reporting agency or by disputing it online. Credit scores naturally fluctuate from month to month depending on your usage, payments and transactions.

Sometimes when you apply for credit, each application triggers a hard inquiry. That's how credit card applications work, for example. That means applying for multiple credit cards over a short period of time will lead to multiple hard inquiries. And that could hurt your credit scores more than a single hard inquiry.

Ultimately, it's up to the lender to decide how many inquiries is too many. Each lender typically has a limit of how many inquiries are acceptable. After that, they will not approve you, no matter what your credit score is. For many lenders, six inquiries are too many to be approved for a loan or bank card.

Lenders typically perform a hard inquiry on your credit if you're applying for a mortgage, auto loan, credit card or student loan. Space out your credit applications — about every six months — to avoid major damage to your score.

Soft inquiries don't impact your credit score. On the other hand, hard inquiries can decrease your score by a few points—or more if there are many different types of inquiries in a short period of time.

Your credit score does not go up when a hard inquiry drops off your credit report. Your score will not go down when a hard inquiry drops off, either. Instead, a hard inquiry (or hard credit pull) stops having an impact on your credit score after one year, which is one year before it drops off your credit report.