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yes, when you apply for an auto loan and get denied, it will hurt your credit. first, just applying for credit is a hard hit by 2 to 5 point lost.
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∙ 14y ago
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Does being denied for credit lower your credit score?
Yes. It is reported on your credit report.
Does your credit score go down if you are denied a loan?
yes your credit score goes down everytime you apply
What is a good range for your credit score?
Credit scores of 620 and lower are average to sub-par. When your credit score reaches the 700s it begins to be considered good credit with about 750 being excellent
Does accepting a pre-approved credit card lower your credit score?
Generally, anything you do that takes on more debt will lower your credit score.
If you reduce your credit limit on a credit card does it affect your credit score?
yes, it will lower your FICO score.
Does being denied for credit lower your credit score?
Yes. It is reported on your credit report.
Will an inquiry on a persons credit report lower their credit score rating?
Yes, each inquiry lowers your credit score. You can pull your own credit report for free at www.freecreditreport.com from all 3 credit agencies and it does not affect your credit score. Also if you have ever been denied credit for any reason, you can request a credit report for free.
Does your credit score go down if you are denied a loan?
yes your credit score goes down everytime you apply
Can you purchase a new Ford truck with a 653 credit score?
depends on if you have a decent credit history. a 653 score willl result in a really high interest rate on a new car, placing the payments out of reach based on your income, resulting in you being denied. if leasing you will be denied instantly with a 653 score.
What is a good range for your credit score?
Credit scores of 620 and lower are average to sub-par. When your credit score reaches the 700s it begins to be considered good credit with about 750 being excellent
Does checking your credit score often lower your credit score?
No. The only thing that can lower your score is when you apply for new credit. Many companies do background checks that include a credit report, but this will not lower your score. There are ways to avoid lowering your score on accident. Make sure you're not falling into these credit traps.
Does accepting a pre-approved credit card lower your credit score?
Generally, anything you do that takes on more debt will lower your credit score.
If your request for credit is denied by a credit card issuer such as American Express does it negatively impact your credit score?
It can..it depends on how many open credit accounts you have. But will only have minimal impact on credit score.
If you reduce your credit limit on a credit card does it affect your credit score?
yes, it will lower your FICO score.
What should my credit score be to get a home loan?
The higher the credit score you have, the better chance of being approved for a home loan. You may still get a home loan on a lower score, but the payments and interest will be higher.
Does checking your credit report cause points from your score to be deducted?
Yes it does effect your credit score some how when u check it your score drops alittle. because i check my credit score to take a loan and it was just at the good mark for the loan. but wheni went to get thw loan they denied me because of my credit. and they took out for checkin it. The above reply is correct if you are checking your report. It is incorrect if you are asking about others checking your credit report. How often you have attempted to use credit can lower your credit score. You need to be careful of applying for credit or a mortgage over the internet. Many of these are just "lead factories" who will sell your information to numerous companies. If there are an abnormal number of requests then it is possible that your credit score will be lower. For an in depth discussion of your credit score see
If your SL is deferred until 2008 but you are being denied credit because of it is it better for your credit score to pay it all or to make payments?
if its deferred because you are in school... then you arent being denied credit because of it. if you dropped out of school then you have to begin payments immediately... if not then you default... which will get you denials. if you are deferred because you are in school... then it actually helps your credit because its an open account that's current.
