04 Aug Credit inquiry on my credit report – what is it?
A credit inquiry will show up on your credit report whenever someone, usually a creditor, looks at your credit report. Only someone with a “permissible purpose” is allowed to look at your credit report.
When a creditor/lender looks at your report in response to your request for credit, a hard inquiry is placed on your report which then lowers your credit score.
When a creditor/lender is “looking” at your report to send you a credit offer, it is called a soft inquiry. Soft inquiries do not affect your score. Your credit score is not affected when you look at your own credit report.
An individual should look at their credit report at least once a year to check if an authorized person has looked at their credit report.
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Jay S. Fleischman is a bankruptcy lawyer with offices in Los Angeles and New York. He can often be found on Google+ and Twitter, where he shares information about consumer protection issues and personal finance.
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