What are hard inquiries?

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Did you know your credit score will drop when your credit gets pulled? Whether from a cellular service provider, a car dealership, a mortgage broker, or anyone else. This is called a hard inquiry; A hard inquiry will hurt your credit scores by 3 to 9 points each and stay on your credit reports for a couple of years though there is an exception. 

If you pull your reports or scores without the intent of checking eligibility for something, that is called a soft inquiry.

If you want to check all three of your credit scores without hurting your credit, we recommend ProCredit. ProCredit has excellent benefits and is very accurate. If you want to know more about it, call in and ask one of our many representatives.

What is the reason for hard inquiries?

Believe it or not, hard inquiries have a purpose like that of collections and everything else on your reports. Inquiries are not put on your accounts because people are evil and want your credit score to suffer, though some car dealerships seem to act this way. Hard inquiries exist to show whoever is concerned about how risky your credit behavior is.

For example, if you’re constantly applying for credit cards and continue going to car dealerships every weekend, people will see you as risky. The risk you add to your reputation (your credit reports) is important information that someone like a mortgage broker would need to see.

A mortgage broker or other loan provider would like to see your credit behavior to see how likely you’d be to prioritize payments and how responsible you are financial.

Luckily for you, if you have unknowingly added many hard inquiries to your credit reports, we will not only give you a FREE credit analysis to help you understand when, where, and how many of these are on your accounts, but we will also challenge all of them for you by leveraging the power of the fair credit reporting act. 

Real Credit Deal is ready to provide you with the best customer service only. What are you waiting for?

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