If you’re thinking of applying for a top loan, there are a few things you should know about credit. Here’s what you need to know to get the best loan possible.
Does your credit get affected when you apply for a loan?
Yes. Applying for loans will affect your credit score negatively for a short period of time.
How much does your credit drop when you apply for a loan?
A hard inquiry from a lender, according to fico, will lower your credit score by five points or less. Your scores can decline even less if you have a solid credit history and no other credit problems. The decline is momentary. 13 sept 2019