How Long Is a Credit Pull Good for Auto Loan Approval and Credit Report

A credit pull is a temporary inquiry on your credit report that can affect your credit score, but how long does it stay on your report? In most cases, a credit pull for an auto loan is good for 14 to 45 days.

This time frame can vary depending on the lender and the type of credit inquiry. For example, a soft inquiry, which is a preliminary review of your credit report, can be good for up to 90 days.

However, a hard inquiry, which is a full credit check, typically remains on your credit report for 2 years from the date of the inquiry. This can affect your credit score, but the impact decreases over time.

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A soft inquiry is a type of credit check that doesn't affect your credit score. It occurs when you or a company checks your credit report without applying for credit.

You might see a soft inquiry on your credit report if you've pulled your own credit report to review your credit score. This is a common practice, and it's not a reflection of an application you've submitted for credit.

Soft inquiries can also result from a preapproved offer of credit, such as a credit card offer that you receive in the mail. This is a soft inquiry, and it won't affect your credit score.

The IRS verifying your identity to issue your tax refund can also trigger a soft inquiry. This is a one-time check that's necessary for the IRS to verify your identity, and it doesn't impact your credit score.

Soft inquiries are different from hard inquiries, which can affect your credit score.

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A hard inquiry can temporarily lower your credit score by a few points, but the impact is usually short-lived. A single hard inquiry can reduce your credit score by at least two points, depending on how many hard inquiries you already have.

Most credit scoring models only consider hard inquiries from the last 12 months when calculating your credit score. However, hard inquiries stay on your credit report for up to two years.

A hard inquiry can also lower your average account age, which accounts for 15% of your FICO credit score. New accounts without payment history on your credit report will have a negative effect until your payments reflect consistently on time.

The good news is that multiple hard inquiries for mortgage or auto loans within a short period of time are often treated as one inquiry. This is because most credit scoring models weigh multiple inquiries for these types of loans as one inquiry if they are made within a certain time period (14 to 45 days).

Here's a rough estimate of how long a hard inquiry can affect your credit score:

Keep in mind that the impact of a hard inquiry on your credit score depends on your overall credit history, credit utilization, and other factors.

A hard inquiry on your credit report can stay there for up to two years.

However, when it comes to your credit score, most credit scoring models only consider inquiries from the last 12 months.

You can request a free copy of your credit report from annualcreditreport.com to check for any unauthorized inquiries.

Hard inquiries typically only cause a 5-point drop in your credit score, according to FICO.

Your credit scores should rebound in a few months, but if you have less-than-stellar credit, the effects can last longer.

Hard inquiries fall off your credit report entirely after two years, but the impact on your credit score may last for a year.

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If you're shopping around for an auto loan, it's natural to want to minimize the impact of hard inquiries on your credit score. You can request a free copy of your credit report from one of the three major credit bureaus before you start loan shopping to ensure your credit report is accurate and attractive to potential lenders.

Hard inquiries stay on your credit report for up to two years, but most credit scoring models only consider the previous 12 months when calculating your credit score. This means that even if you have multiple hard inquiries, they won't have a larger impact on your score.

A hard inquiry can affect your credit score, but usually only by a few points. FICO reports that a hard inquiry will reduce your credit score by five points or less. Your scores should rebound in a few months. If you have less-than-stellar credit and a lot of hard inquiries for different types of credit within a short time, the effects will last longer.

To minimize the impact of hard inquiries, rate shopping within a certain time frame—generally 14 to 45 days—could be treated as just a single hard inquiry. This can help keep your score from dropping several times in quick succession.

Here are some tips to keep in mind:

A new car loan can have a temporary impact on your credit score, causing it to drop by a few points due to the hard inquiry from the credit check and the new loan being reported to the credit bureaus.

Time is a big factor in raising your credit score, and keeping your auto loan open with timely payments contributes greatly to your length of credit history.

You can expect your credit score to rise after making several on-time payments and again when you pay down more of the principal balance.

A car loan can have multiple effects on your credit, including diversifying your credit mix, adding new credit, initially increasing your credit utilization rate, adding to your hard inquiries, and lowering your average account age.

Here are some potential effects of a car loan on your credit:

The impact of a hard inquiry on your credit can be significant, especially if you apply for multiple credit cards within a short period of time. To minimize this impact, it's a good idea to request a free copy of your credit report from one of the three major credit bureaus before you start loan shopping.

You can expect to see the hard inquiry for your car loan show on your credit report within the same day or first few days after applying, whether you've been approved or not.

The key to raising your credit score with a car loan is to make timely payments and keep the loan open for an extended period of time. This will contribute to your length of credit history and help to offset the initial negative impact on your credit score.

A hard inquiry can affect your credit score, but the impact is usually temporary and relatively small. Most auto lenders use FICO credit scores, which are made up of five factors.

A FICO score drop can happen when you apply for an auto loan, causing your credit score to drop by a few points temporarily. This is due to the hard inquiry from the credit check.

The good news is that multiple hard inquiries within a short period of time, like 14-45 days, will count as one and won't have a larger impact on your score. This is helpful if you're shopping around for the best deal on interest rates.

A car loan can also affect your credit in different ways, including diversifying your credit mix, adding new credit, and initially increasing your credit utilization rate. Time is a big factor in raising your credit score, and keeping your auto loan open with timely payments contributes greatly to your length of credit history.

Credit inquiries make up about 10% of your total FICO score, but the impact of a hard inquiry is usually small, dropping your credit score by about five points. This impact may be even less if you have a good credit history.

Here's a breakdown of how a hard inquiry can affect your credit score: