Did you know that 10% of your FICO Score is based on how often you apply for credit accounts?
It’s important to know that there are two types of credit inquiries.
Soft inquiries, such as when viewing your own credit report, will not affect your FICO Score. Hard inquiries happen when you apply for a loan which are reported to credit bureaus and can affect your overall credit score.
A great rule of thumb is to only apply for credit as needed.
Learn more here:
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I am an official brand ambassador for FICO. While I receive compensation for my participation as a brand ambassador, opinions are mine.
