“did you know that this happens when applying for credit?”

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:

Understanding your FICO Score doesn’t have to be a mystery. To learn more, visit: scoreabetterfuture.com.

I am an official brand ambassador for FICO. While I receive compensation for my participation as a brand ambassador, opinions are mine.

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About

The Finance Bar is a personal finance suite helping women and couples achieve financial wellness through financial therapy, education, and an innovative learning hub on wheels. Creator Marsha Barnes is Certified in Financial Therapy, Financial Social Work, and serves as an Official FICO Brand Ambassador, and was named GOBankingRates’ Best Money Expert in the Net-Worth Category.

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