Is 3 hard inquiries bad?
Three hard inquiries arent necessarily bad. Credit scoring models often disregard multiple inquiries within a short period (usually 14-45 days) when youre rate shopping for loans like mortgages or auto loans. While individual hard inquiries might slightly lower your score, the impact is generally minimal and temporary.
Is three hard inquiries bad? Ugh, that’s a question I’ve wrestled with myself, honestly. Remember when I was buying my first car? I went through, like, three different loan places – felt so overwhelmed! And I was terrified about hurting my credit score.
Three hard inquiries aren’t necessarily bad, you know? I mean, I learned this the hard way. What I found out is that credit scoring models are pretty smart. They often bunch together multiple inquiries that happen close together – I think it’s usually within a month or so – if you’re, say, comparing mortgage rates or car loan rates. They kind of understand you’re just shopping around.
It’s not like each one suddenly drops your score ten points! It’s more like… a little nudge downward, nothing major. And the best part? It’s usually temporary. I swear, I saw my score bounce back pretty quickly after I got my car loan approved. So, while a single hard inquiry might give your score a tiny little tap, three in a short time probably won’t be a huge deal. Unless, of course, you’re applying for a bunch of credit cards or loans all willy-nilly. That’s a different story, haha!
But yeah, don’t panic if you’ve had three recently. Just try to keep it reasonable, alright?
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