Why do hard pulls on your credit make it go down?
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The difference between a soft pull and a hard pull of your credit score is that a hard pull can be used to issue credit. So the company doing a hard pull is essentially telling the credit agency that they have the intention to issue credit to you and that the paperwork on this should be filed in a few days. The credit agency therefore have to assume that the credit will be issued and lower the credit score immediatly. If they did not do this then you could potentially go around signing up for multiple lines of credit while your credit score was good before the paperwork have been sent to the credit agency.
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