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45-Day Rule and Your Credit Score

The 45-Day Rule to Keep Credit Applications From Wrecking Your Score

Figuring out your credit can be so confusing! Business Insider has the scoop on this rule that could help save your credit. 

It's considered basic knowledge that every time you apply for a new line of credit, your credit score could take a hit. That's because whenever another business looks into your credit history before lending you money, credit bureaus consider it a "hard pull" and dock you points. 

Related: The Credit Error That Led a Woman to Win $18.6 Million Against Equifax

But there may be a way to minimize the impact those pulls can have on your account, according to Consumer Reports:

Most credit scores are not affected when you shop for a car, mortgage, student loan, or an apartment within 45 days, a FICO spokesperson told them. Instead, they will treat it as a single inquiry and lump them all together.

Good to know!

And don't worry too much if you absolutely need a new line of credit. Your score will drop, but it will rebound within a few months so long as you keep current on payments. 


Credit scoring is something of a mess to figure out, but FICO has a pretty helpful list of how different behaviors can impact your score. Check it out here.

— Mandi Woodruff

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