Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What are Inquires?

April 26, 2017inquires

0

Posted

What are Inquires?

1 Answer

0

Posted

Part of your credit score considers the number of inquiries made for your credit report. Credit inquiries are placed on your credit report each time a business requests a copy of your report. The Fair Credit Reporting Act (FCRA) requires businesses to have an acceptable reason for accessing your credit report. Acceptable reasons include: To grant credit Collect a debt Underwrite insurance Employment License issuing by some government agencies Legitimate business transactions Each inquiry that reports can drop your credit score any where from 2-5 points. The inquiries on your credit report will remain for two years but only affect your credit score for one year.