Posts Tagged "loan application"

Renewing pre-approved car loan likely will cause hard inquiry

Dear Experian,

I applied and was approved for an auto loan through my credit union, which I have numerous accounts with – mortgage, savings, money markets, and credit cards. Twice I’ve let the preapproved loan expire and asked to have it re-approved. I have not made a decision on a car. Each time I have it re-approved I get a notice that includes my credit score. It’s always really good. Am I harming my credit scores by letting the loan offer expire and resubmitting again? I need to do this for a third time (and this time I plan to use it!), but wondered how this fits into what you’ve told us before about inquiries with “existing creditors.”


Declination notice received after withdrawing loan application

Dear Experian,

I withdrew an application for credit from a national bank on the same day of my request. They still sent me the packet, and then several days later they sent me a declined notice. Does this affect my credit score?