Question by PUB H:
Does getting quotes from automobile insurance companies lower your credit score?
I’ve heard that everytime you apply for a credit card, get insurance quotes, etc. your credit score gets lowered.


——————————————

Answer by ElGuapo
The credit bureaus differentiate between a “voluntary” and “involuntary” credit check, and it does temporarily lower your FICO score if you initiated the request. (Incidentally, a person checking their credit history on their own is considered “involuntary” and does not impact your score.) This is not a reason NOT to apply for credit, but it does mean you should avoid making any small credit applications just prior to a huge purchase, like a home.

——————————————
Know better? Leave your own answer in the comments!

Related posts:

  1. DOES GETTING QUOTES FROM CAR INSURANCE COMPANIES LOWER YOUR CREDIT SCORE?
  2. DOES GETTING CAR INSURANCE QUOTES LOWER YOUR CREDIT SCORE?
  3. WILL GETTING QUOTES FROM CAR INSURANCE COMPANIES AFFECT MY CREDIT SCORE?