There are two types of Inquiries that are reported on your credit file.  They are often referred to as Hard and Soft.

When you apply for credit and the lender checks your credit report and score, this results in a Hard Inquiry on your credit report.  An Hard Inquiry occurs when you authorize the lender or creditor to check your credit, sometimes referred to as “pulling your credit”. 

Hard Inquiries stay on your credit report for two years and can count against your score anywhere from 1 to 12 points each.

NOTE: Creditors typically cannot do a Hard Inquiry without your permission.  This is usually on an application that includes your full name, birth date and social security number.

A Soft Inquiry occurs when you check your own credit, or a company that you currently have an account with does a periodic check, or when a company wants to send you a new credit offer and they do a preliminary credit check.  Prospective employers that do credit checks will also show up as a Soft Inquiry.

All of these Soft Inquiries are listed on your credit report but DO NOT have an impact on your scores.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Credit applications that result in Inquiries:
New Mortgage or Mortgage Refinance
Home Equity Line of Credit
Auto Loan
Credit Card application including retail stores, catalog charge accounts and gasoline/fuel companies
Utility Companies including cell phones
Gym Memberships and other companies with annual contracts
Student Loans
Inquiries are reported on credit reports for two (2) years and are usually categorized as ”Soft” Inquiries and “Hard” Inquiries.  

A Soft Inquiry is when a company you are currently doing business with, or a company that wants to send you a credit offer, checks your credit.  Employers’ credit checks are also Soft Inquiries.  Soft Inquiries typically show up on the credit report but do not factor in to the scoring formula. 

 A Hard Inquiry is when you are actually applying for credit or a loan.  Hard Inquiries can have a negative impact on credit scores, anywhere from  1 – 12 points each against your scores. 

 NOTE: Checking your own credit does NOT count against your scores.