What are the different types of credit inquiries?
An example of an AI chatbot conversation about types of credit inquiries.
What are the different types of credit inquiries?
There are two main types of credit inquiries: hard inquiries and soft inquiries. Hard inquiries occur when a lender checks your credit for lending purposes, while soft inquiries happen when you check your own credit or when a lender checks your credit for pre-approval.
How do hard inquiries affect my credit score?
Hard inquiries can slightly lower your credit score, typically by a few points. However, they usually have a minimal impact if you only have a few in a year.
Can I remove a hard inquiry from my credit report?
You can dispute a hard inquiry if you believe it was made in error. If it's verified as incorrect, it can be removed from your report.
How long do hard inquiries stay on my credit report?
Hard inquiries generally remain on your credit report for about two years, but their impact on your score diminishes over time.
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