Learn everything about a credit score inquiry and how it can hurt your credit score or do absolutely nothing. Continue reading and we will explain further.

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Credit Score Inquiry
So what exactly is a credit score inquiry? Why does it show up on your credit report and why can it hurt your credit score if you have too many inquriies? We will get into these details in this article so pay attention.

A credit score inquiry is whenever a credit agency such as a bank, credit card company, or lender takes a look at your credit report. They may look at your credit score and report to see if you are approved for a credit card, for when you open a bank account, or when you apply for a loan. Each time your credit score and report is looked at, you will have an inquiry on your account. Even when you look at your own credit report, an inquiry will show a mark on your credit report. But not all credit score inquiries are the same. Some will hurt your credit score and some won’t do a thing.

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There are two types of credit score inquiries: a hard credit score inquiry and a soft credit score inquiry. You may also have heard these called hard pulls and soft pulls on your credit report. So what’s the difference?

A hard credit score inquiry is usually done when you apply for credit cards and loans. Think of it as a dig deep into your credit report and credit score. Credit agencies need to take a deep dive to see if you qualify for a loan or if you can get that credit card. Too many hard credit score inquiries will hurt your credit score. It you have too many it shows that you are opening too many lines of credit at one time or that you are about to take on a lot of debt. To banks and lenders this looks risky and therefore it will drop your credit score a few points if you have too many hard credit score inquiries. To avoid this, try not to apply for too many credit cards or lines of credit at one time.

A soft credit score inquiry is when you look at your own credit score or report or sometimes when opening a bank account. These inquiries will not hurt your credit score, so you can check your credit report as many times as you like without affecting your credit score. For both inquiries, they will last two years on your credit report and disappear after those two years. Because it doesn’t hurt your credit score to check your credit, it’s important to check it as often as you can.

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