[HisDaughterJeanne]

I have been researching different interest rates etc. on line. Just wondering if it hurts your credit by applying for more than one lender? Is there some kind of "lending tree" site for education loans?

Your expertise is greatly appreciated...

Jeanne

[ree-nee]

Originally Posted by HisDaughterJeanne

I have been researching different interest rates etc. on line. Just wondering if it hurts your credit by applying for more than one lender? Is there some kind of "lending tree" site for education loans?

Your expertise is greatly appreciated...

Jeanne

Yeah, it sorta "hurts" ur credit cuz each application will show up as an inquiry on ur credit report, each inquiry is a negative hit on ur credit, therefor ur spinning ur wheels if you apply for too many at time and lower ur credit worthiness at the same time. Pick 1 or 2 major reputable lenders and stick with them. Most are pretty good about lending-after all they gotta lend if they're gonna make money.

[Lisa CCU RN]

Several inquiries of the same type within a one -two week period will not affect your credit score significantly because it looks like you are shopping around for the best rate.