HOW DO CREDIT INQUIRIES AFFECT A CREDIT RATING?

YOUR CREDIT SCORE IS VERY
SENSITIVE TO MANY FACTORS.

CREDIT INQUIRIES LOWER YOUR
CREDIT SCORE . EVERYTIME YOU
FILL OUT A CREDIT APPLICATION
AND A CAR DEALER “RUNS YOUR
CREDIT” YOUR SCORE DROPS
TWO TO THREE POINTS.

IF YOU LET FIVE CAR DEALERS
RUN YOUR CREDIT, YOUR SCORE
WILL GO DOWN AS MUCH AS
15 POINTS.

SINCE THE INTEREST RATE YOU
WILL BE CHARGED IS BASED ON
YOUR CREDIT SCORE, YOU MAY BE
RAISING THE INTEREST RATE
WITHOUT REALIZING IT.

DO NOT LET ANY CAR DEALER
“RUN YOUR CREDIT”
UNTIL YOU ACTUALLY CLOSE A
DEAL ON A VEHICLE.

IF YOU HAVE DECIDED TO USE
YOUR CREDIT UNION OR LOCAL
BANK DO NOT ALLOW THE CAR
DEALERSHIP TO RUN YOUR CREDIT.
THEY DO NOT HAVE THE RIGHT
TO DO SO WITHOUT YOUR
WRITTEN PERMISSION VIA THE
SIGNED CREDIT APPLICATION.

THE LAW PROTECTS YOUR PRIVACY