In part 1 of Example of Hard Credit Inquiries, we shared the types of credit inquiries that can bring your credit score down a few points. They included applying for a loan, mortgage or credit card. Credit inquiries allow lenders to see when and where you’ve searched for credit in the past so they can...
Lenders and other third parties judge your creditworthiness based on many factors and one of them is the inquiries that are on your report. Inquiries allow them to see when and where you’ve searched for credit in the past. There are two kinds of credit inquiries they can look at: hard inquiries and soft inquiries....
There are two kinds of inquiries that can happen on your credit report. They are hard inquiries and soft inquiries. In part 1 of Difference Between Hard Credit Inquiries and Small Credit Inquiries, we covered what hard inquiries are. In part 2, we will cover soft inquiries. What is a soft inquiry? These types of...
Credit inquiries allow lenders and other third parties to see when and where you’ve searched for credit in the past. Two kinds of inquiries that can happen on your credit report are hard inquiries and soft inquiries. Even though lenders can see both kinds of inquiries, hard inquiries can negatively affect your credit score. What...
If you’re looking for a great rate on a loan, you may be worried that too many hits may drop your score. Although too many credit inquiries can damage your credit score, there are ways to prepare yourself for the best possible outcome so that your score doesn’t have to suffer greatly. The first best...
When you’re shopping around for credit whether it’s for a new auto loan, mortgage or credit card, the level of damage it does to your credit report will vary. The level and extent of damage will depend on what kind of loan you’re trying to get and the model you’re getting your score from. For...
If your credit is in good condition, you can enjoy many benefits such as… Low interest rates Low down payments And, favorable credit terms. Depending on how good your score is you can potentially save a lot of money. But, when you’re ready for the best deal on a mortgage or auto loan, you have...
When selecting an installment loan, you have to make sure that the company that you use is reputable. There are many reputable companies out there. Here’s how to choose a top lender… #1 – Shop around and compare at least three loans before choosing a lender. #2 – Consider factors such as origination fees, APRs...
One major misconception that’s floating around is that installment loans are only for those with bad credit. This isn’t true at all. Installment loans are personal loans and anyone can apply. The bad rap comes from many payday loan companies who have tacked on “installment” to their products. The truth about installment loans is you’re...
With online lending growing in popularity, it’s hard to believe that brick and mortar banking is still a primary option. For many people, getting a loan from someone in person is a more preferred solution. There’s something appealing about the interaction, plus you have a chance to get to actually see and speak with the...
By clicking submit, I authorize: (1) Wallet Monkey Guide to use my information in accordance with its Terms and Conditions and Privacy Policy, and (2) Wallet Monkey Guide to contact me by email with offers for goods and services at the email address provided.
