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Hard inquiries are typically inquiries by lenders after you apply for credit such as an auto loan, personal loan or credit card. Lenders and other third parties can see hard inquiries on your credit report. If you get a lot of these inquiries it may have a negative impact on your credit score because credit scoring models can look at how recently and how frequently you apply for credit. Most people seem to believe hard inquiries stay and hurt your scores for a long time. The truth is, after about 90-120 days, the negative impact on you scores from those inquiries is almost minimal.

Soft inquiries are reviews of your credit report that do not impact or change your credit score. They are only visible to you and do not appear on credit reports pulled by lenders, employers or other third parties. Soft inquiries include inquiries by lenders who are monitoring an existing account, looking at credit reports to make “pre-screened” credit offers or using credit reports to pre-qualify individuals for credit offers.

We recommend avoiding any unnecessary hard inquiries and direct our clients to Smart Credit to obtain the most accurate, up to date 3-bureau credit report that will show how the automotive scores, insurance score and even your hiring risk score.