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stephlan

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what is credit inquiries?

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Really?

from the Internet.

"Definition of 'Credit Inquiry'

A transaction whereby a bank or other credit-issuing institution views an individual's credit report in connection with a loan 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). 
 

There are two main types of credit inquiries - a "soft" inquiry and a "hard" inquiry. A soft inquiry is normally initiated by the individual (such as checking one's own credit report for errors) and is not recorded on the individual's credit report. A hard inquiry is recorded on an individual's credit report when a third party views the credit report in response to an application for credit. "

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