Hello {first_name},
Similar to your Credit Mix from the previous email, inquiries cover the last 10% of your Credit Score. Let’s take a look at how this works.
Sometimes called “pulls”, there are two types of inquiries, Hard and Soft.
Hard Inquiries are going to be the ones you will worry about most. These can affect your score in a negative way. Generally, a hard inquiry lets whoever is viewing your credit know that you have been applying for a new debt. Sometimes you can get a hard inquiry for other reasons like the following:
Applying for a place to live.
Getting new insurance.
Applying for a new job.
Requesting an increase on a credit card limit.
New utility service request.
Soft inquiries will not affect your credit score at all and only you will see them. Sometimes credit companies will pull your report without your knowledge in order to see if you prequalify for a credit card or other loan offer. These do not count in your score at all.
When you get an offer and they say that “It will not affect your credit to apply” they are doing a soft inquiry. If you can, you always want a soft and not a hard inquiry.
How much do these affect your score? What can you do about them? We’ll go over that in our next email.
See you soon!
Sincerely,
{{ custom_values.slm__representative }}
{cro_name}
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{phone_number}
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