Whenever a creditor makes an inquiry about your credit score, the score can drop by as much as five points. Some borrowers often fear that if they shop around for lenders, each time the lender makes an inquiry, their credit score reduce with each visit. The truth is that multiple loan inquiries are generally treated as a single inquiry in the most major credit report agencies, provided they come within a 45-day period. It would help if you do your loan rate shopping within the 45-day window.
