Applications for auto financing

Applications for auto financing made within a 14-day period will only count as one inquiry for credit scoring purposes.

Applications for Mortgages

Multiple applications for mortgage made within a 30-day period will only count as one inquiry for credit scoring purposes.

Know the difference between soft inquiries and hard inquiries

You should understand the difference between a soft inquiry and a hard inquiry.  If you don’t know, then check out these examples of the two types of inquiries:

Soft Inquiries

  • When you pull your own credit report
  • When a current credit runs your credit as part of an account review to see how well you are using your credit
  • When a potential creditor is looking at your report for solicitation purposes

Hard Inquiries

  • Applications for credit and credit based insurance
  • A review made by a creditor for a purpose permitted under the FCRA

Why does it matter? A soft inquiry does not impact your credit score. A hard inquiry may adversely impact your credit score.