Credit Report Inquirys
This is the place on the credit report that will show who has accessed your credit report. every time you apply for anything that requires your credit to be pulled it will show up here. It will tell you who pulled your credit, and the date your credit was pulled. Something alot of people dont know is that the number of times you apply for credit in a certain time period could have an adverse affect on your credit score. The scoring system allows for unlimited inquiries during any on fifteen day period to count as one. In this way the system allows borrowers to do due dilligence in shopping for credit without being penalized. Inquiries only account for 10% of your credit score, but inquiries can lower your score enough to put you in a different credit tier that may increase your interest rate or reduce the maximum loan-to-value that you can receive. “The scoring system allows for unlimited inquiries during any on fifteen day period to count as one. In this way the system allows borrowers to do due dilligence in shopping for credit without being penalized.” My understanding is that the unlimited inquires within the 15 day period is only if it is a mortgage or auto loan inquiry.
