The Difference Between Soft And Hard Inquiries
We still receive questions regarding inquiries every single day, and there still seems
to be a mass confusion regarding the difference between hard inquiries and soft
inquiries on a credit report.
To clear up...
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The Difference Between Soft And Hard Inquiries
We still receive questions regarding inquiries every single day, and there still seems
to be a mass confusion regarding the difference between hard inquiries and soft
inquiries on a credit report.
To clear up and questions and confusion we are going to
break them both down and explain the differences and how each of them impact
your credit score.
A hard inquiry is the result of someone other then yourself accessing your credit
report.
Examples: car dealership finance department pulling your credit, mortgage
broker pulling your credit reports, rental agency obtaining a copy of your credit for a
rental application, or a credit card company pulling credit in order to approve or
deny an application for credit.
Each of these would be considered a hard inquiry.
These do have a negative impact on your credit score and in most situations each
inquiry can knock the score down anywhere from two to ten points, so it is not a
good idea to apply f
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