How Do Hard Inquiries Affect My Credit Score?
Hard inquiries can show up on your report, affecting your credit score. However, if you spot one on your credit report, you don’t need to worry about it too much since it counts as a minor negative entry, accounting for 10 percent of your credit score.
Hard inquiries happen when applying for a new line of credit, such as credit cards or loans. That means creditors have requested to check your credit file and see how much risk you pose. The exact effects depend on your credit history and current status but expect an average 1- to a 5-point drop in your overall credit score.
If your credit score is affected by a hard inquiry you don’t recognize, you can fix your credit in no time. It can bounce back in a couple of months if you use your credit accounts responsibly.
How Long Do Hard Inquiries Last?
Hard inquiries usually stay on a credit report for at least two years. They won’t affect your credit as much as other discrepancies, and they don’t last long. Although they can last for two years, hard inquiries won’t affect your credit score for longer than a year, making a fast credit fix possible.
How We Can Help
Removing authorized hard inquiries from a credit report isn’t possible. But, what we at The Oasis Firm can do for you is dispute any misinformation and errors on the hard inquiry or see any unauthorized or suspicious inquiries.
When we discover any discrepancies, we will inform the associated creditors and credit bureaus, then that’s the only time that hard inquiries can be removed from your report, repairing your credit score.
As one of the best companies that help improve your credit score in Florida, let our years of experience and passion restore your financial standing – and freedom!
let our years of experience and passion for education empower your financial freedom.