Any potential lender pulling your credit (a “credit inquiry”) may slightly lower your overall credit score temporarily. It can take several months to see your score bounce back up. If you make multiple inquiries in a short amount of time (primarily during a 30-day period), they will be treated as a single inquiry and will, therefore, have a relatively small impact on your score.

You can visit Transunion to learn more about how multiple inquiries affect credit scores. MPOWER obtains Canadian credit information from Equifax, which provides information about how multiple inquiries affect credit scores.