This is a very talked about topic here. Credit Inquiries, many people so misled about Credit Inquiries that they don't even know whats on there credit report because there afraid to check it. Lets start with what a Inquiry is. A inquiry is exactly what it says, its an inquiry, an inquiry about your credit history, for creditors or landlords, or jobs or even car rental companies to check on your credit background. Now understand that there's two kinds of credit inquiries, the Hard Inquiry and the soft inquiry.
Hard Inquiry:
The hard inquiry is made form creditors looking to check on your credit history for a loan, credit card, or rental approval and more. This kind of inquiry is a hard inquiry because it decreases your credit score. Now even though this decreases your credit score if you get the loan or credit card, or apartment rental or mortgage, it doesn't look bad on your report, because you applied for an auto loan and you got it. Unlike if you applied for an auto loan like 3-5 times and didn't get the loan, that's bad. Makes other or new creditors your trying to get, look at your report as if something is wrong with this picture.
Soft Inquiry:
The soft pull. The soft pull is normally made by you yourself checking your credit report and sometimes some creditors doing a credit limit increase or a Pre-approval for a credit card or store card. This Inquiry does not effect your credit score. Don't be afraid to ask some creditors if they do soft pulls or not. Some credit grantors such as Walmart, Khol's, and others that do soft pulls due to a pre approval system they are associated with. You can put your self in this system which is basically opting your self in to be able to possibly get a Pre-approval on credit.
Now also do understand that every creditor that pulls a report and makes an inquiry does not do it to all 3 of your credit bureaus. Some creditors only pull one bureau or maybe 2 sometimes. You normally get all 3 pulled and an inquiry done on all 3 when your looking to get a mortgage done. So this is a nice clue to you that 2 of your credit bureau reports are high in inquiries and your looking to go get a auto loan, maybe you should go to a bank or creditor that will pull the bureau that has the least inquiries.
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