There are two different kinds of credit inquiries:
- Hard inquiries – Hard credit inquiries, also known as “hard pulls”, occur when a lender or creditor checks your credit report to evaluate your creditworthiness during a credit application process. These inquiries may impact your FICO® Score, which considers how recently and how frequently you apply for credit.
- Soft inquiries – Also known as “soft pulls”, these are reviews of your credit file, including reviews of existing accounts by lenders, prescreening inquiries by prospective lenders, and your requests for your annual credit report. These do not impact your FICO Score.
FICO will provide you with a tracing of your credit monitoring for FREE if you sign up. Yes, it can be annoying but at least you know when someone or company is reviewing your credit.
Gloria Durham, ED of SUE