Types

• Hard inquiries -- ones that you initiate -- lower your credit score by about five points, according to the BCS Alliance. Soft inquiries, such as pre-approved credit offers, never count against you.
  
  

Tip

• You may apply for multiple types of credit within a single month. Credit rating agencies will only count these applications as one inquiry, according to the Privacy Rights Clearinghouse.
  
  

Considerations

• The Fair Isaac Corporation score ranges from 300 to 850. Five or less points for one inquiry affects your score far less than paying bills on time or the length of your history,