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What are inquires?

Part of your credit score considers the number of inquiries made for your credit report. Credit inquiries are placed on your credit report each time a business requests a copy of your report. The Fair Credit Reporting Act (FCRA) requires businesses to have an acceptable reason for accessing your credit report. Acceptable reasons include:

  • To grant credit
  • Collect a debt
  • Underwrite insurance
  • Employment
  • License issuing by some government agencies
  • Legitimate business transactions

Each inquiry that reports can drop your credit score anywhere from 2-5 points. The inquiries on your credit report will remain for two years but only affect your credit score for one year.


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