📌 How Hard Inquiries Work (Step-by-Step)

📌 How Hard Inquiries Work (Step-by-Step)

📌 How Hard Inquiries Work (Step-by-Step)

Step by Step:


1️⃣ You Apply for Credit

Whether it’s a credit card, car loan, personal loan, mortgage, or even a store card:
• You submit your personal info — name, SSN, income, job details, etc.


2️⃣ The Lender Runs a Hard Pull

To decide if you qualify, the lender checks your credit through Experian, Equifax, or TransUnion.
• This creates a hard inquiry on your report.


3️⃣ You Get Denied

Even if you’re not approved, the hard inquiry still gets added.
• It doesn’t matter if you got the card or loan — the pull stays.


4️⃣ The Inquiry Sticks Around

• Each hard inquiry can drop your credit score by 2–5 points
• And it stays on your credit report for up to 2 years


1️⃣ You Apply for Credit

Whether it’s a credit card, car loan, personal loan, mortgage, or even a store card:
• You submit your personal info — name, SSN, income, job details, etc.


2️⃣ The Lender Runs a Hard Pull

To decide if you qualify, the lender checks your credit through Experian, Equifax, or TransUnion.
• This creates a hard inquiry on your report.


3️⃣ You Get Denied

Even if you’re not approved, the hard inquiry still gets added.
• It doesn’t matter if you got the card or loan — the pull stays.


4️⃣ The Inquiry Sticks Around

• Each hard inquiry can drop your credit score by 2–5 points
• And it stays on your credit report for up to 2 years


1️⃣ You Apply for Credit

Whether it’s a credit card, car loan, personal loan, mortgage, or even a store card:
• You submit your personal info — name, SSN, income, job details, etc.


2️⃣ The Lender Runs a Hard Pull

To decide if you qualify, the lender checks your credit through Experian, Equifax, or TransUnion.
• This creates a hard inquiry on your report.


3️⃣ You Get Denied

Even if you’re not approved, the hard inquiry still gets added.
• It doesn’t matter if you got the card or loan — the pull stays.


4️⃣ The Inquiry Sticks Around

• Each hard inquiry can drop your credit score by 2–5 points
• And it stays on your credit report for up to 2 years

Trade Smart with Smart Money

Trade Smart with Smart Money

Trade Smart with Smart Money

© 2025 Smart Money

© 2025 Smart Money