credit

6 credit report items that scare lenders

A lot of inquiries
A lot of inquiries

Every time you allow a potential lender to pull your credit report, you risk generating a hard inquiry on your credit report. The exact impact of this inquiry varies by the consumer, the score and the number of inquiries. Multiple inquiries may not make or break everyone's credit scores, since they generally account for a small percentage in most credit scoring models.

However, "for someone who is a FICO 670, yes, they're a problem, because they're already in the marginal zone," Ulzheimer says. For these consumers, even a small downtick can negatively impact their creditworthiness.

If you're applying for a home, auto or student loan, you can minimize the damage to your FICO score by making all of your applications within a 45-day period. When you do that, the score bundles all the similar inquiries and treats them as one. Unfortunately, there is no similar grace period for credit card applications.

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