This is an article that will discuss
inquiries which are an entry on a credit report that shows a business has
requested a copy of the report. “Hard” credit inquiries happen when a business
checks your credit report because you’ve made an application for credit. On the
other hand, “soft” credit inquiries are made by businesses that you already
have a relationship with. Removing inquiries from your credit report can help
you in the credit repair process.
Are
you trying to get a credit card with a really good rate? You may have been
shopping around for a while so that you can get the best possible deal. Chances
are, you may have found a few different cards that you like, but there were a
couple of things that you did not like about each one. Sometimes, you will find
one that you like but you have to pay an annual fee. Other times, you will find
one with no annual fee but there will be really high late charges or other
miscellaneous fees.
However,
you should not be applying for all of these cards. Looking through all of the
terms for each one of them is one thing, but applying for all of them is
another. Were you aware that making a number of inquiries could actually hurt
your credit score? Well, it can and could actually end up doing quite a bit
more damage than you would think.
The
truth of the matter is, every single time that you apply for a credit card or
inquire about any type of a loan or store credit, the information will show up
on your credit report. This is called a “hard inquiry”. Many times, people will
apply for different kinds of credit while they are completely unaware that the
inquiries are going against their credit score. It is actually too bad that
this information is not given to these individuals up front so that better
choices may be made. Removing these can help when it comes to credit repair.
Another
common misunderstanding is that a requesting a copy of your credit report can
actually hurt you. However, this type of an inquiry is called a “soft inquiry”
and should never count against your credit score
Read More: https://www.creditrepairease.com/blog/too-many-inquiries-can-hurt-your-credit-score/
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