A Hard Credit Inquiry (or Hard Credit Pull) occurs when a lender or financial institution checks your credit report as part of a lending decision. This type of inquiry can slightly lower your credit score and remains on your credit report for up to two years, though its impact on your score typically fades after a few months.
Common Hard Credit Inquiry triggers may include:
- Applying for a mortgage
- Applying for a credit card
- Applying for a loan (student, business, personal, or auto)