Hard Credit Inquiries: How Long Do They Stay and What Is Their Impact?
Soft vs. hard credit inquiries: discover what triggers a formal check on your credit report and how to keep your score stable.
Imagine this: your credit score dropped and you don't know why. It could be due to a late payment, high credit card balances, or fraud. But there is another possibility: a hard credit inquiry (or hard check).
1 What Is a Hard Credit Inquiry?
No impact on your credit score
Occurs when you check your own credit score or when an institution verifies your pre-qualification.
Temporary dip in your credit score
Occurs when a potential lender reviews your credit file to approve a loan, mortgage, or credit card application.
2 Events That Trigger a Hard Inquiry
- Applying for a new credit card: Any formal submission triggers a credit check with Equifax or TransUnion.
- New cell phone plan or subscription: Telecom providers check your creditworthiness before approving a plan.
- Applying for a personal loan or mortgage: Avoid submitting multiple simultaneous applications to different lenders.
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