Friday’s Credit Tip #12: Be Careful of Inquiries on Your Credit Report

Every time that someone looks at your credit report, the inquiry is noted.

If you have lots of inquiries on your report, it may appear that you are shopping for several loans at once or that lenders have rejected you. Both make you appear a poor credit risk and may affect your credit score.

This means that you should be careful about who looks at your credit report.

If you are shopping for a loan, shop around within a short period of time, since inquiries made within a few days of each other will generally be lumped together and counted as one inquiry.

Check back next Friday for another credit tip!

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