Credit Repair

712 Credit Score – Hard Inquiry – How a Hard Inquiry affects your credit score

712-credit-score-hard-inquiry-how-a-hard-inquiry-affects-your-credit-score

712 Credit Score – How to Choose

A hard inquiry can affect can drop your credit score 50 POINTS. In this video I talk about how hard inquiries affect your credit score and why your credit score can drop by 50 points.

Even though HARD INQUIRY/new accounts is only 10% of the credit score which is just 85 points on a 850 scoring model. A hard inquiry can will also affect your average age of credit with you get approved. So when you apply for a credit card/loan your credit score can get affected in 2 categories.

When it comes to removing hard inquiries some people will pay a arm and a leg. You can pay to remove a hard inquiry or you can allow it to fall off organically. Most hard inquiries will fall off in 2 years max.

AMERICAN EXPRESS CARDS
➜➜➜ https://amex.co/2tXjoGZ

Get the DISCOVER CARD and get a $50 Statement Credit with your 1st purchase within 3 months.
➜➜➜ https://bit.ly/37r3jr5

CAPITAL ONE QUICKSILVER
➜➜➜ https://capital.one/2Rr5Bl2
You can check and see if you are prequalified before choosing to accept the credit card offer.

DELTA Skymiles Cards
https://amex.co/38WlBkX

APPLY HERE American Express Blue Cash Everyday Card
Get $200 cashback when you spend $1,000 in the first 3 months.

➜➜➜ https://amex.co/2tXjoGZ

In this video I talk about hard inquiries and how much they can affect your credit score. When it comes to our credit score hard inquiries/new accounts make up 10% of our overall credit score. However when you get a hard inquiry and approved for a credit card your credit score can take a hit.

In this video I explain how a hard inquiry can and does affect your average age of credit which in turn will affect your credit score.

Become a Discover Cardmember and get a $50 Statement Credit with your 1st purchase within 3 months. I also get a $50 statement credit when your use the link below. (this helps out the channel)

APPLY for the DISCOVER IT CARD BELOW
➜➜➜ https://refer.discover.com/s/22dmma

✅SUBSCRIBE to our channel
https://www.youtube.com/channel/UC-925PwPMVZKEN59r7Rbndg?sub_confirmation=1

Once again my name is Duane with how to build credit TV. This channel offers 100% FREE information on how to build credit, how to get cash back actual cash money from using credit cards, as well as credit card reviews. We also talk about everything you need to know about credit. Whether you’re looking establish credit, build credit, rebuild credit or learn more about the Fico Score and how it’s comprised so that you can increase your credit score.

✅SUBSCRIBE to our channel
https://www.youtube.com/channel/UC-925PwPMVZKEN59r7Rbndg?sub_confirmation=1

#HowToBuildCreditTV

DISCLAIMER: Some of the links in this description are affiliate links. If you sign up for the offers using those links a small commission will be made with will help out our channel. Thank you very watching our videos and supporting the channel.

Thanks for watching the 712 Credit Score video!

Watch the 712 Credit Score video on Youtube

24 Comments
Share

24 Comments

  1. David Diaz
    July 31, 2021 at 10:24 am

    I believe the chase 5/24 only would affect if you have open accounts not inquiries but yeah they still deny you if you have to many inquiries

  2. darren perez
    July 31, 2021 at 10:24 am

    I have 1 inquiry in last year. Fico score is 590. How i apply for secure cc. Or not secured?
    Or not to apply?

  3. Sharky
    July 31, 2021 at 10:24 am

    Can a soft inquiry hurt your credit score?

  4. Shawn Doe
    July 31, 2021 at 10:24 am

    😝 I got the 🥤 knowledge to get them removed

  5. Fiscal Forward
    July 31, 2021 at 10:24 am

    I think Chase 5/24 is related to cards you are a primary or an AU on. But I don’t think it applies to Hard Pulls

  6. Sam Sprague Finance Formula
    July 31, 2021 at 10:24 am

    Even though the hard inquiries impact you negatively, it will help build the more vital factors

  7. Jason Perry
    July 31, 2021 at 10:24 am

    Duane keeping steady wit the Vids. Giving out the Knowledge. Keep going Brother🙌🏾

  8. jordan23ww
    July 31, 2021 at 10:24 am

    Great video! This has been really eye opening. Knowing that an application affects both the New Credit category and the Length of Credit History category and how many points combined those make up is huge. 10% of 850 or 15% of 850 doesn’t seem like a lot but essentially it’s 25% of 850!😱 Never considered that before this video! Thank you for the info!

  9. VeganMicroFarm
    July 31, 2021 at 10:24 am

    You can get an inquiry removed but its like getting a root canal. The lender must have permissible purpose: a firm offer of credit, insurance, or employment.. This is what happened to me, the CRA sent me to the lender and there was no letter of denial and no account on my credit report, it took a year to get it removed. This is why most credit repair companies do not remove inquiries, its a PITA beating your head against a brick wall.

  10. Anthony Bussey
    July 31, 2021 at 10:24 am

    Amazing that you have a video on this subject applied for the Discover It secured credit card got approved my question is how long does it take for your score to come back up also have the secured Capital One MasterCard

  11. Blake Nau
    July 31, 2021 at 10:24 am

    Hi. How long do hard inquiries last on your credit legally?

  12. deborah anderson
    July 31, 2021 at 10:24 am

    Hi Duane, I have none with Trans Union, Equifax and three which two will be coming off next month…It does makes a difference

  13. Kvasir of Old
    July 31, 2021 at 10:24 am

    Yeah, being denied for too many inquiries sucks. Been denied at Cap One and Discover for that reason.

  14. royland walker
    July 31, 2021 at 10:24 am

    Excellent information Bro thanks 🙂

  15. Conscious Nation
    July 31, 2021 at 10:24 am

    Good info bruh. If I may do a small correction, inquiries are worth a total of 55 points since we are giving 300 points already. 850-300=550. I do believe this is how it is calculated.

  16. Cleveland Brown
    July 31, 2021 at 10:24 am

    Personally, I feel 2 yrs is too long, especially if you are denied. It should be something like 6 mths or something. Thanks for the info Duane. 💯

  17. Donnie Brasco
    July 31, 2021 at 10:24 am

    Just went from poor to fair fico. Super happy! Thanks for your videos. Keep up the great work! 700s here I come

  18. Sabria
    July 31, 2021 at 10:24 am

    I have 2 secured cards , discover it and navy Federal. I want a credit card . I have 2 within 2 months from each other . Should I wait or just try to apply for a credit card . I have to wait for card limit increases

  19. Sabria
    July 31, 2021 at 10:24 am

    Just loving all the knowledge during this time of Covid-19, really opened my eyes to really self reflect and focus on bettering other aspects of my life. Thanks for all you do!

  20. Diamond Williams
    July 31, 2021 at 10:24 am

    Good info!

  21. Lando CalrisiaN
    July 31, 2021 at 10:24 am

    Smashed LOL!!

  22. How To Build Credit TV
    July 31, 2021 at 10:24 am

    Thanks for watching! Please SMASH that thumbs up 👍🏾 button!

  23. Curly Nic
    July 31, 2021 at 10:24 am

    Got 5 inquiries, going to chill this year and just work on paying down my credit cards..656 score coming for that 700 club

  24. Lisa Johnson
    July 31, 2021 at 10:24 am

    Exactly … ✅