It won't affect your score.
So how would a loan modification affect your score?
Failing to pay your mortgage on time affects your score.
Some inquiries don't affect your score, however.
Factors that you control, such as diet, exercise, and smoking, can affect your score.
Then, do research to find out what a credit score is, how financial decisions affect your score, and why it matters.
James Jones, spokesman for Experian, one of the biggest credit reference agencies, says: "Your credit score is calculated by the lender when you apply for credit and if you have had difficulties with debt it will affect your score.
No, self-inquiries do not affect your score, as long as you order your credit report directly from the credit reporting agencies, or through an organization authorized to provide credit reports to consumers (like annualcreditreport.com)!
Generally, multiple similar inquiries within a one- to two-week period are recognized as comparison shopping, so they count as one inquiry and don't greatly affect your score, he said.
Now, after talking with more people, Mr. Paris said, "The more accurate and prevalent theory is that an alert can delay or prohibit you from getting new credit, but it's not going to affect your score per se".
In our reader's case, he already did damage by merely opening up a new account because every new credit inquiry, which happens when you open a new card, could affect your score.
