If you pull out your credit report yourself and for your own use, it is called a soft inquiry and it does not affect your credit score. But if you apply for a new line of credit and the creditor pulls out your credit score, it is called a hard inquiry and it remains on your credit report for two years from the date of entry in your report and affects your score.
Yes, I agree with Carol. Each hard inquiry may reduce your credit score by as much as 5 to 10 points. Moreover, if you have more and more hard inquiries, it would mean that you are credit hungry which is not looked as a positive item by the creditors.
If you pull out your credit report yourself and for your own use, it is called a soft inquiry and it does not affect your credit score. But if you apply for a new line of credit and the creditor pulls out your credit score, it is called a hard inquiry and it remains on your credit report for two years from the date of entry in your report and affects your score.
Yes, I agree with Carol. Each hard inquiry may reduce your credit score by as much as 5 to 10 points. Moreover, if you have more and more hard inquiries, it would mean that you are credit hungry which is not looked as a positive item by the creditors.
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