Inquiry by a business or person into an entity's credit history. Credit inquiries are used to verify a party's ability to repay some type of loan or monthly payment. Each time a credit inquiry is made, points are deducted from the borrower's credit score. Most inquiries would show up on a credit report provided by one of the three major credit bureaus.
Related information about credit inquiry:
- Credit Report Inquiries: How Credit Checks Affect Your Credit Score
For most people, one additional credit inquiry will take less than five points off their FICO score. For perspective, the full range for FICO scores is 300-850.
- Credit Inquiries: What is a Credit Inquiry? | TransUnion
Credit reports and credit scores can be incredibly confusing. Learn crucial information about credit inquiries and what a credit inqury is today!
- How credit inquiries affect credit score
Feb 19, 2010 ... What is a credit inquiry? An inquiry is a notation on your credit report that someone has requested your credit file. Two types of inquiries may ...
- Credit Inquiry - What is a Credit Report Inquiry
A credit inquiry is an entry on a credit report that shows a business has requested a copy of the report.
- Fact Sheet: Credit Inquiries - Illinois Attorney General
A credit inquiry is a record on the bottom of your credit report of every time you, one of your creditors, or a potential creditor obtains a copy of your credit report.
- Remove Credit Report Inquiries
Oct 17, 2011 ... Every time you apply for credit and the credit grantor checks your credit report, a credit inquiry is placed on your file. Even if you receive a credit ...
- Credit Inquiry Definition | Investopedia
... or credit card application. The purpose of a credit inquiry is to evaluate an individual's likelihood to repay money that is lent to them (known as creditworthiness).
- Credit 101: Soft & Hard Inquiries | Credit Karma Blog
May 5, 2011 ... It's important to know the difference between soft and hard inquiries for two reasons: a soft inquiry will not affect your credit score while a hard ...