Hard Inquiry

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Dictionary Says

Definition of 'Hard Inquiry'

A type of credit report check that may lower an individual’s credit score. A hard inquiry occurs when an individual applies for any type of credit, such as a mortgage, credit card or auto loan. The reason a hard inquiry may lower an individual’s credit score is because someone who has recently applied for new credit is seen as a potentially riskier borrower.

Also called a "hard pull."
Investopedia Says

Investopedia explains 'Hard Inquiry'

The application for new credit indicates either that the individual may need credit as a result of a financial setback, or that the acquisition of new debt by the borrower makes him or her a higher lending risk. However, credit scoring formulas typically take into account that an individual might be shopping around for the best rate, so when multiple inquiries are made for the same type of credit in a short period, such as multiple mortgage applications, the individual’s credit score is not dinged repeatedly.

The other type of credit report inquiry is called a soft inquiry, or soft pull. Soft pulls include inquiries such as an individual checking her own credit report, employer checks of job applicants’ credit reports and credit card companies’ screening of applicants for preapproved credit offers. This type of credit report check does not affect an individual’s credit score because it is for informational purposes only.

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Search results for

'Hard Inquiry'

  • The Truth About Store Credit Cards - Investopedia.com

    http://financialedge.investopedia.com/financial-edge/1210/The-Truth-About-Store-Credit-Cards.aspx
    ... Known as a "hard inquiry" on your credit file, experts estimate that they
    can impact your credit score by as much as 30 points. ...

  • Credit Cards: Choosing A Credit Card | Investopedia

    http://www.investopedia.com/university/credit-cards/credit-cards7.asp
    ... Applying for the card can count as a “hard” inquiry on your credit report. Too many
    of these inquires on your report can lower your FICO credit score. ...

  • Adam Smith And "The Wealth Of Nations"

    http://www.investopedia.com/articles/economics/09/adam-smith-wealth-of-nations.asp
    ... In Opposition to Mercantilism On March 9, 1776, "An Inquiry into the Nature and ...
    Enlightened Self-Interest Smith wanted people to practice thrift, hard work and ...

  • Stimulus Spending: When It Fails And Why - Investopedia.com

    http://financialedge.investopedia.com/financial-edge/0609/Stimulus-Spending-The-Downside.aspx
    ... When Adam Smith wrote his landmark book, "An Inquiry Into the Nature and Causes
    of the ... It's a hard sell in Europe, however, because Germany is taking a more ...

  • Immucor Investors Out For Blood

    http://stocks.investopedia.com/stock-analysis/2010/Immucor-Investors-Out-For-Blood-BLUD-BIO-GENZ-BSX-ABT-GPRO1007.aspx
    ... In addition to a government antitrust inquiry, Immucor was smacked hard by the
    FDA for serious deficiencies in its quality control process. ...

  • Keeping Track Of Retirement Plan Assets

    http://www.investopedia.com/articles/retirement/05/053005.asp
    ... Submit your inquiry in writing, and include as much relevant detail as possible,
    such as ... a few of the steps you need to take to be sure your hard-earned assets ...

  • Advice For Finding The Best Advisor

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    ... It's not hard to be overwhelmed when you're looking to find unbiased ... professional
    and registered investment adviser in the US An online inquiry will quickly ...

  • How Influential Economists Changed Our History

    http://www.investopedia.com/articles/07/economists.asp
    ... known for writing "The Theory of Moral Sentiments" (1759) and "An Inquiry into the ...
    be had free trade not been encouraged and if hoarding of hard assets was the ...

  • A Lifeline For Those Drowning In Debt

    http://www.investopedia.com/articles/pf/07/credit-debt-options.asp
    ... In response to the Congressional inquiry, large credit card companies voluntarily ...
    educating yourself about personal finance and taking a hard, honest look at ...

  • Wendy's/Arby's Posts Weak Numbers For Q3

    http://stocks.investopedia.com/stock-analysis/2010/WendysArbys-Posts-Weak-Numbers-For-Q3-WEN-MCD-YUM-JACK1116.aspx
    ... However, it's hard to argue that point when competitors such as McDonald's
    (NYSE:MCD), Burger ... in June of this year that the fund had received an inquiry from ...

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