Does getting car insurance quotes lower your credit score?

Does getting car insurance quotes lower your credit score?

I was wondering if getting multiple insurance quotes can significantly lower your FICO score due to inquiries..especially if you have a limited credit history..

This entry was posted on Wednesday, August 25th, 2010 at 2:32 am and is filed under Car insurance quotes comparison. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

2 Responses to “Does getting car insurance quotes lower your credit score?”

1. Candace C Says:
   August 28th, 2010 at 12:35 am

   I have heard multiple credit inquiries can effect FICO but not a significant impact.

   Build your history by getting several credit cards and keeping a bit of balance each month. When you can, extend the credit limit on your card. Pay you bills on time and you will build up your rating. (Never owe over 50% of your max. credit limit)
   You’re smart to shop around for car insurance and be sure to stay free of tickets as much as you can to keep premiums down.

   To get an expert opinion, ck with one of the credit companies like Experien.

2. Harley N Says:
   August 28th, 2010 at 7:17 am

   NO. They oftentimes check your credit, but it is considered a “soft inquiry” which does not lower your score. It is like a utility company checking your credit.

   hard inquiries lower your score, which are applications for new credit, such as loans mortgages, credit cards, etc.

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