According to FICO®, a hard inquiry will typically only result in a 5-10 point drop in your credit scores.
Although too many inquiries within a short period of time can impact credit scores, this is not the case when shopping around for the best rate on a car loan or mortgage.
How many points will my credit score increase if a collection is removed?
This is because it is often beyond your control. Also, it can drop more than 100 points off of your score, and can stay on your report for 7 years. The current FICO algorithm does not differentiate between medical collections and any other type of collections – they all impact scores equally.
Photo in the article by “Wikipedia”