What is a credit inquiry?

Credit Inquiry Definition: A credit inquiry occurs when there is an authority granted to view a person or business’s credit report. There are two main types of inquiries, called a hard inquiry and a soft inquiry. A hard inquiry is made with your permission to review your credit history for a specific credit or transaction, such as a car loan or mortgage.

These types of credit inquiries may have an impact on your credit report, whereas soft inquiries do not show up on your credit history when they are used to evaluate creditworthiness. Borrowers can review both soft and hard inquiries on their free credit reports or through third-party companies with access to credit reports and scores.

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