Simple Definition
A hard inquiry is recorded when a lender checks your credit report for a credit application. Multiple hard inquiries in a short period may affect your credit profile.
Why It Matters
Hard inquiries matter because frequent applications may signal credit hunger to lenders.
Example
Applying for several credit cards and loans in the same month may create multiple hard inquiries.
FAQs on Hard Inquiry
Does a hard inquiry reduce credit score?
It may have an impact, especially if there are many inquiries in a short period.
Is checking my own score a hard inquiry?
Usually, checking your own credit score is treated as a soft inquiry.