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Credit Inquiry
Explanation:
When a creditor asks to see your credit report from one of the three major credit bureaus. More specifically, there are two different types of credit inquiries: hard and soft. Hard credit inquiries are when creditors or lenders view your credit report(s) for the purpose of making a lending decision. This type of credit inquiry is listed on your credit files. Soft credit inquiries are when creditors, lenders, landlords or employers request your credit report(s) for pre-qualification or risk assessment purposes.
Our Thoughts:
Multiple hard inquiries in a short time frame can damage your credit standing because they indicate desperation for credit and thereby signal risk. That's why it's best to make sure you have a shot at being accepted for a loan/credit card before you apply for one.