When you or a company asks to see your credit file, there are two types of inquiries that might appear on your credit reports: soft inquiries and hard inquiries. While soft inquiries show up on your credit reports, they’re only visible to you—they don’t appear to lenders. And they don’t affect your credit scores. Hard inquiries are different. They can affect your credit scores and stay on credit reports for a certain amount of time. Show
But just how long do hard inquiries remain on your credit reports? Read on to learn more about hard inquiries and how they can affect your credit. Key Takeaways
Monitor Your Credit for FreeJoin the millions using CreditWise from Capital One. Sign Up TodayWhat Is a Hard Inquiry?When you apply for a new credit card, a home loan or another line of credit, the potential lender will request information about your credit history. This action is called a hard inquiry, or a hard pull, and you’ll typically see it appear on one or more of your credit reports. Other examples of when your credit might undergo a hard inquiry include:
Hard Inquiry vs. Soft InquiryA hard inquiry differs from what’s called a soft inquiry or soft pull. A soft inquiry can result from checking your own credit report. Soft credit inquiries could also be a result of:
How Does a Hard Inquiry Affect Credit?While a hard inquiry does impact your credit scores, it typically only causes them to drop by about five points, according to credit-scoring company FICO®. And if you have a good credit history, the impact may be even less. That said, it’s helpful to know that credit inquiries make up about 10% of your total FICO score. Keep in mind there are other credit-scoring companies and models that a lender could use. If you’re looking to secure a large loan, like a mortgage, you may not want to apply for other new credit around the same time. This may help minimize the risk that your credit scores will drop before you apply for the larger loan. How Long Do Inquiries Stay on Your Credit Report?Hard inquiries are taken off of your credit reports after two years. But your credit scores may only be affected for a year, and sometimes it might only be for a few months. Soft inquiries will only stay on your credit reports for 12-24 months. And remember: Soft inquiries won’t affect your credit scores. Lenders may be concerned if you have too many hard inquiries on your credit report within a short period of time. However, there are some exceptions to this. For example, if you’re shopping around for a mortgage or car loan, it makes sense that you might be comparing rates with different lenders. For that reason, rate shopping within a certain time frame—generally 14 to 45 days, depending on the credit-scoring model—could be treated as just a single hard inquiry. You could keep up with your credit status by pulling your free credit reports from the three major credit bureaus: TransUnion®, Experian® and Equifax®. You can retrieve free copies of your credit reports by visiting AnnualCreditReport.com. CreditWise from Capital One can also help you access your TransUnion credit reports and your weekly VantageScore® 3.0 credit score. Using CreditWise won’t hurt your credit scores, and it’s free for everyone, whether or not you have a Capital One product. Can You Remove Inquiries From a Credit Report?Removing a credit inquiry from your credit report may be doable if it’s the outcome of identity theft or fraud. You’ll need to file a dispute with the three major credit bureaus to ask for it to be removed. The Consumer Financial Protection Bureau has more information about this. However, if you put a hard inquiry in motion by applying for a new line of credit, you can’t have it removed. Hard Credit Inquiries in a NutshellHard inquiries can impact your credit, but your score could rebound over time if you use credit responsibly. But you’ll want to keep an eye on your credit reports to stay informed about your current credit situation. Learn more about the differences between hard and soft inquiries and how to check your credit reports. We hope you found this helpful. Our content is not intended to provide legal, investment or financial advice or to indicate that a particular Capital One product or service is available or right for you. For specific advice about your unique circumstances, consider talking with a qualified professional. Capital One does not provide, endorse or guarantee any third-party product, service, information, or recommendation listed above. The third parties listed are solely responsible for their products and services, and all trademarks listed are the property of their respective owners. Your CreditWise score is calculated using the TransUnion® VantageScore® 3.0 model, which is one of many credit scoring models. It may not be the same model your lender uses, but it can be one accurate measure of your credit health. The availability of the CreditWise tool depends on our ability to obtain your credit history from TransUnion. Some monitoring and alerts may not be available to you if the information you enter at enrollment does not match the information in your credit file at (or you do not have a file at) one or more consumer reporting agencies. Does a hard pull hurt your credit?While one hard inquiry may knock a few points off your scores, multiple inquiries in a short amount of time may cause more damage — unless you're rate-shopping for a home or car, in which case you'll likely have a grace period to shop around.
How long does a hard pull lower your credit score?Hard inquiries are taken off of your credit reports after two years. But your credit scores may only be affected for a year, and sometimes it might only be for a few months. Soft inquiries will only stay on your credit reports for 12-24 months. And remember: Soft inquiries won't affect your credit scores.
Does pulling your credit report from all 3 hurt your score?Highlights: Checking your credit reports or credit scores will not impact credit scores. Regularly checking your credit reports and credit scores is a good way to ensure information is accurate.
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How much does a hard pull hurt credit score
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