What Is an Inquiry?
A credit inquiry is a request for a specific individual’s credit report from a reporting agency. Banks and other lenders will request the credit report of a potential buyer to determine if they are eligible for a mortgage or other type of loan.
What Is the Difference Between a Soft Inquiry and a Hard Inquiry?
Both of these inquiry types can appear on your credit report,
but only HARD inquiries affect your score.
Hard inquiries occur when you apply for a mortgage, credit card, or another type of loan. Hard inquiries will stay on your credit report for up to two years. It’s important to understand that an inquiry is considered a public record, and because of this, it cannot be removed.
Keep in mind, if you have more than a few hard inquiries in a short period, you may be viewed as high-risk. Soft inquiries occur when you check your credit or when a lender checks your credit to pre-approve you for a loan.
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