02/23/2023
Did you know that not all credit inquiries are created equal?
Soft credit inquiries won't hurt your credit score, but hard inquiries can.
Understanding the difference between the two can help you make smarter decisions when it comes to applying for new credit. 🤔💳
Soft inquiries are typically made for informational purposes, like when you check your own credit report or when a lender pre-approves you for a credit card.
Since they don't impact your credit score, you can check your credit report as often as you like without any negative consequences. 📈👍
Hard inquiries, on the other hand, are generated when you apply for new credit, like a loan or a credit card.
These types of inquiries can have a temporary negative effect on your credit score, so it's important to be mindful of how many hard inquiries you're making and to only apply for credit that you really need. 💰🛍️
By understanding the difference between soft and hard inquiries, you can take control of your credit health and make informed decisions that help you achieve your financial goals. 🙌💸
