hard inquiry
2 questions
- Finance
How long does a hard inquiry affect your credit score?
A hard inquiry drops your score by fewer than 5 points on average and stops affecting it after 12 months — but stays on your report for 2 years.
- Finance
What is the difference between a soft inquiry and a hard inquiry?
A hard inquiry happens when a lender pulls your credit after you apply for credit and can temporarily lower your score by a few points; a soft inquiry — like checking your own credit or a pre-approval check — has no effect on your score at all.