Blog ...The road to excellent credit begins here

What are hard inquiries?

When your credit gets pulled, whether from a cellular service provider, a car dealership, a mortgage broker or anyone else, your credit score is going to drop. This is called a hard inquiry; A hard inquiry will hurt your credit scores by 3 to 9 points each and will stay on your credit reports for a couple years. Though there is an exception. If you pull your own reports or scores without the intent of checking eligibility for something, that is called a soft inquiry.

If you want to check all three of your credit scores without hurting your credit, we recommend ProCredit. ProCredit has great benefits and is very accurate. If you want to know more about it, call in and ask one of our many representatives.

What is the reason for hard inquiries?

Believe it or not, but hard inquiries have a purpose like that of collections and everything else on your reports. Inquiries are not put on your reports because people are evil and want your credit score to suffer, though some car dealerships seem to act this way.  Hard inquiries exist to show whoever is concerned, how risky your credit behavior is.

For example, if you’re applying for credit cards constantly and continue to go to car dealerships every weekend, people are going to see you as risky. The risk you add onto your reputation (your credit reports) is important information that someone like a mortgage broker would need to see.

The reason why a mortgage broker or other loan provider would like to see your credit behavior is to see how likely you’d be to prioritize payments and to see how responsible you are financially.

Luckily for you, if you have unknowingly added many hard inquiries onto your credit reports, we will not only give you a FREE credit analysis to help you understand when, where, and how many of these are on your reports, but we will also get all of them removed for you in the FASTEST way possible, once you’re a client, guaranteed!