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I keep hearing different things about credit checks. Some say it is bad to have people check your credit scores. Others say it doesn’t matter and the checks are not recorded into your credit history. Now I got a rent broker who says it is to my advantage not to need the landlord to check my credit (I have excellent credit anyway) since if they check it, and i decide not to rent from him, it looks bad? What is the real story here?

3 Thoughts on I am renting an apartment and the broker says if they check my credit score it is recorded?
  1. Reply
    Ryan M
    April 29, 2013 at 9:29 pm

    It is bad to have several credit checks in a short amount of time, however the impact is VERY minimal (like 2 points per inquiry) and it goes back up in 60 days. Its not that big of a deal UNLESS you plan on applying for major financing within the 60 days.

  2. Reply
    Mark Palmer
    April 29, 2013 at 9:41 pm

    Your confusion is justified and I am sure you are only getting bits and pieces of the actual truth. Any time someone inquires about your credit, it is recorded on your profile and kept there for a set period of time (I do not recall exactly how long, but I am thinking just a few months). Additionally, your credit score gets “dinged” each time it pulled. The only time the “ding” does not occur is when you are either searching for financing for a house or a car (major purchases). During this time period, you have two weeks from the time the first credit report is pulled until the last and the combined credit pulls are all counted as one inquiry although all of them will show up. In other words, you are only “dinged” once. For example, you are searching for financing for a house and in two weeks you decide to check out ten banks or mortgage companies. Each organization should receive the exact same credit report and scores unless a reporting period has transpired (showing a late payment, etc…). So, you have a two week window to shop for a loan for a car or house.

    Regarding your apartment situation, you may want to inquire as to the possibility of pulling your own credit report one time and giving a copy to each prospective landlord instead of shopping around where each pulls their own, which may result in lowering your credit scores over time.

  3. Reply
    Katherine W
    April 29, 2013 at 10:23 pm

    It does show up on your credit score, but usually on one one of the credit bureaus, not all three, and it’s only a reduction of 20 points, and it goes back after a month or two anyway. If you have excellent credit and you make about three times the cost of the rent, then they’ll rent to you. And why would you go to the work of applying if you’re not going to take it? So I wouldn’t listen to this rent broker. I wonder why he wants to push you to apply to places that don’t do credit checks. You want places like that, because then your neighbors passed it too, which means a higher-quality place to live (people with good credit make good neighbors).

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