How Hard Inquiries Affect Credit Report

• Hard inquiries result in a small decrease in your credit score.
• A high number of recent inquiries may imply that you're experiencing financial
difficulties.
• If you have multiple inquiries within a short period, lenders may believe that you might
be taking on too much new credit.
• If you're approved for new credit as a result of inquiries, it could affect your credit
utilization ratio.
• Some inquiries within a specific period are treated as a single inquiry which minimizes
the impact on your credit score.
• Hard inquiries remain on your credit report for up to two years.
• Inquiries are visible to other lenders and can influence their decision to extend credit to
you.
• Hard inquiries are factored into your credit score calculation.
• People with higher credit scores experience a smaller impact from hard inquiries.
• The impact of hard inquiries on your credit score diminishes over time.