 TITLE: What to Do If Your Loan Is Denied CONTENT: Getting Denied Does Not Hurt Your Credit Score\n----------------------------------------------\nWhen a lender or creditor asks a credit bureau to look at a consumer's credit report, an inquiry is posted to the consumer's credit report. A credit inquiry can be hard or soft. Almost every time you apply for credit, the lender will run a hard credit inquiry. For most people, a hard inquiry knocks less than five points off their credit score, but that little dip will not last long—24 months at the most.\nApproval decisions for loans are made by lenders, not any of the three nationwide credit reporting companies, Experian, Equifax, and TransUnion. Also, your credit report won't indicate whether a loan application was denied, so getting denied won't impact your credit score in any way. END