What is a credit inquiry?

Credit inquiries generally fall into one of two categories.

Hard inquiries

These are often inquiries by lenders after you apply for credit to help them decide whether they will approve your loan or credit. These inquiries will impact your credit score because most credit scoring models look at how recently and how frequently you apply for credit. Hard inquiries can be seen on your report when others purchase your credit report from the credit reporting company.

Soft inquiries

These are reviews of your credit file, including reviews of existing accounts by lenders or insurance companies, prescreening inquiries by prospective lenders, employment screening of your credit reports, and your requests for your credit reports. These will not affect your credit scores. Soft inquiries are shown only to you when you review your own credit report; they are not visible when others purchase your credit report.

You have the right, as a consumer, to review your credit reports once per year. Doing so will not affect your credit scores. Since the COVID-19 pandemic, the nationwide credit reporting companies grant you access to your credit reports every week if you request it.

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