Credit Inquiries
An inquiry is placed on the credit bureau report when a consumer applies for a new loan or a new credit card. The lender will pull a copy of the credit bureau report which then places an “inquiry” on the consumer’s bureau. Currently, today’s consumer has had one or fewer inquires on their accounts within the last year. When searching for new credit; less than 6% had 4 or greater inquiries deriving from new credit applications.
Posted by Shawn |