How will a Credit Check impact my Credit Score?
The impact of a Credit Check varies by country.
The impact of a Credit Check varies by country and is often a requirement for renting a home.
Canada:- Credit Checks are soft inquiries
- They appear on the credit file but do not impact the Credit Score
United States:
- Tenant Screening Credit Checks are hard inquiries
- They may cause a small, temporary impact on the applicant’s Credit Score
- Key details:
- Impact typically lasts up to 12 months
- Inquiries make up only ~10% of a credit score
- All inquiries are removed from reports after 3 years
- Multiple inquiries from different creditors in a short time have the biggest impact