Process Terms
Hard Inquiry: Definition
A credit check that may affect credit scores.
Definition
A Hard Inquiry (also called hard pull) is a credit check that may temporarily lower a consumer's credit score. Hard inquiries occur when consumers apply for new credit. They remain on credit reports for two years but only affect scores for one year.
Usage Notes
- Can lower score by a few points
- Multiple inquiries for same loan type often counted as one
- Remains on report for 2 years
Related Terms
More Process Terms
Dispute
A consumer's challenge to the accuracy of reported information.
ACDV (Automated Consumer Dispute Verification)
The system used by bureaus to process consumer disputes.
e-OSCAR
The industry system for processing credit disputes electronically.
File Submission
The process of sending Metro 2 data to credit bureaus.
Credit Report
A detailed report of a consumer's credit history.
Credit Score
A numerical representation of creditworthiness.
Tradeline
A record of a single credit account on a credit report.
Soft Inquiry
A credit check that doesn't affect credit scores.
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