📌 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