Posted by Michael Hughes August 19, 2010
How do credit inquiries affect your score? Well there are two types of credit inquiries–hard inquiries (“hard pulls”) and soft inquiries (“soft pulls”).
Hard pulls
A hard pull is defined as an inquiry that will affect your score. If you’ve ever viewed your credit report you’ll see a section dedicated to credit inquiries. That’s because the credit bureaus keep a record whenever your credit history is viewed by a service provider or credit lender. Pulls that will show on your report as hard pulls include those by landlords, credit card issuers, insurance companies and service providers (think satellite television, phone service, the electric company…). Records of all of these inquiries will remain with you for 1-2 years. Most people have some inquiries; it’s just what happens as you go through life.
Soft pulls
Soft pulls are not visible on your credit report and thus have no affect on your score. Soft pulls on your credit report come from viewing your report yourself, along with any job-related requests that are made. Also, when your information is sent to companies for marketing purposes they can appear in the
Your Right to Opt Out
Lastly, in regards to the pre-approval notices you receive in the mail, you have the right to opt out from receiving these solicitations. To opt out contact each of the three bureaus (TransUnion, Equifax and Experian) individually. You can also call 1-888-5-OPTOUT (1-888-567-8688). This will remove your name from mailing and telemarketing lists for two years. Read the entire story.
If you have questions regarding this article or have thought about selling, renting, investing or would like to Buy A House In Boulder check out my website. You may also call, text me 303-359-6627 or e-mail Michael Hughes at Fuller Sotheby’s International Realty in Boulder, CO. Featured Listings
