Will my credit score drop if I apply for a new loan?

Will my credit score drop if I apply for a new loan?

According to MyFICO.com credit inquiries make up 10% of your credit score. Everything is relative in credit scoring. So, if you are already struggling with a lower score, inquiries will have more of an impact. If your credit history is shorter, inquiries will have more of an impact. Most credit scores are not affected by multiple inquiries from auto or mortgage lenders within a short period of time. Typically these are treated as a single inquiry and will have little impact on the score, if done within 30 days. 

CREDIT SCORE

collections remain 7 years from date of initial missed payment that led to collection. paid collections are simply marked as such on report. 

charge-off remain 7 years from initial missed payment that led to charge-off even if parameters are later made on the charged off account. 

closed accounts are no longer available for further use. they may r may not have a $0 balance. Those with delinquencies remain 7 years from date closed, whether by consumer or creditor. positive closed accounts remain 10 years. 

lost credit card: if no delinquencies, those reported lost will continue to be listed for 2 years from date card reported lost. Delinquent payments that occurred before the card wast lost will report for 7 years. 

bankruptcy:  chapter 7, 11 and 12 remain 10 years from filing date. Accounts included will also remain 7 years. 

city, county, state and federal tax liens:  unpaid tax liens will remain 15 years from filing date. Paid tax liens will remain 7 years from the paid date of lien.