Hard Inquires

Hard Inquires :

Hard inquires from applications for a simple low interest financing for a small purchase like a T.V to a larger purchase like a new home. These inquires can stay visible on your credit report for up to 2 years and slowly decrease over time.

Hard inquires should be only used when you are absolutely certain that you are going to be making a big purchase soon. 

This can be frustrating when you go to a dealership to search for a new car and the first thing the salesmen asks before you get to close your car door is, “Hey! Look at this car,lets run some numbers!”  While this is good to do when shopping around at different dealers, if the credit pull you do is not used within a certain time period, when you finally go to purchase the vehicle there or elsewhere, you will actually have 2 hard inquires on your account because the first one had expired before the credit bureau got it filed in the system.

A friendly tip is to research the vehicle you plan on buying by using Truecar.com to see what others have paid and where you should be at in terms of prices (before pulling your credit for it)

This is crucial to your score because it has a higher impact on it and takes longer for it to fall off when used.