Posted on 04 August 2009
Tags: business transaction, businesses, Credit Report, Credit Score, credit transactions, equifax, experian, hard credit inquiry, Hard Inquiries Without Consent, reviewing open account, soft credit inquiry, transunion, underwriting insurance
Yes, it is true that businesses can pull your credit report without your permission. Your future may rely on what’s in your credit report and businesses can judge you by it no doubt. And the worse thing is that pulling your report can potentially lower your hard built credit score.
Why Does It Affect Your Score When Someone Checks Your Credit?
It isn’t always necessary that your credit score may get affected. Sometimes creditors can check your credit report with a “soft” inquiry, which doesn’t count against you. This type of credit check is performed when you check your own credit or get pre-screened by credit card companies.
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Posted on 07 May 2009
Tags: Amalgamated Bank, American Express Co., auto insurance, Bank of America, Bank of Atlanta, Bank of New York, BB&T, Brookline Bank, Brown & Co., Cable TV, California, car insurance, car loan, cellular telephone, Charles Schwab Bank, Charter One Bank, Chase Manhattan Bank, Cingular Wireless, citibank, Clackamas Community Federal Credit Union, Comcast, Coral Springs Nissan Auto Mall, Countrywide Bank FSB, Credit Score, Digital Federal Credit Union, eBank, equifax, Equifax Valley National Bank of NJ, EverBank, Fidelity Investments, Fifth Third, Flagstar Bank, GMAC Bank, hard credit inquiry, hard inquiry, Indiana Members Credit Union, Johnson & Johnson, LionBank, Marquette National Bank, Meadows Credit Union, Mechanics Bank, Muriel Siebert & Co., NASA Federal Credit Union, National1St Credit Union, Pentagon Federal Credit Union, PNC Bank, Presidential Bank, Principal Bank, Provident Central Credit Union, Qwest, Salem Five, savings/combination brokerage, soft credit inquiry, St. Paul Bank Corp., State Farm, SunTrust, Trans Union, US Bank, Verizon, VOIP, Wachovia, Washington Mutual, Wells Fargo, Wisconsin, Yale, Yale & Associates
There are two types of inquiries that a company may make into your credit record,i.e. “‘hard inquiry” or “soft inquiry”.
If a company makes a hard inquiry into your credit record,it will damage your credit score temporarily.Your credit score may be damaged only by a hard inquiry while a soft inquiry does not affect your credit score. 
If you are planning to get a mortgage or you need a car loan then in this situation even a few points difference in your credit score cannot be ignored and this small difference in your credit score may magnify into a considerably big change. So we need to know that how can we decide whether the inquiry is going to be “hard” or “soft”?
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