The next in line regarding the importance of consideration is the last application for credit. Now this accounts for 10% of your score. It takes into account how many accounts you have applied for recently, how many new accounts you have opened, how much time has passed since you applied for credit, and how much time has passed since you opened an account. pulling your own credit does not hurt your score. However, if you have a lender pull your credit, your score will drop. If you apply for credit cards, each hard inquiry will count as a three to five point score reduction.

If you are purchasing a home or vehicle, you generally have two weeks to a month of credit inquiries before we before you receive more than a five point reduction.