A hard inquiry stays on your credit report for two years and impacts your score for up to 12 months, usually causing it to drop by 10 points or less. Hard inquiries are a record of a lender’s request to review your report when you’ve applied for credit or a loan.
Note, credit scoring models treat multiple inquiries for the same type of loan in a 14 to 45-day period as one inquiry, allowing consumers to shop around and secure the best terms possible. This rate shopping benefit applies to mortgages, auto loans, student loans and utilities but not credit cards. To protect your credit score, you can compare credit card offers here on WalletHub to choose the right card before applying.
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