 TITLE: What Are Inquiries On Your Credit Report? CONTENT: How to Manage Hard Inquiries\n----------------------------\nBecause hard inquiries can reduce your credit score, it's wise to refrain from seeking multiple new loans or credit cards in rapid succession. Applying for multiple credit cards in quick sequence or at the same time can ding your credit score unnecessarily, for instance.\nBecause hard inquiries can temporarily reduce your credit score, it's wise to only apply for credit when you really need it. Although some credit scoring models count multiple inquiries for the same purpose made within a short period of time as one, several different types of inquiries made within a short period of time can ding your credit score or cause lenders to worry that you are experiencing financial distress.\nIt's also a good idea to avoid loan or credit applications for six months to a year before you apply for a mortgage or car loan, so your application reflects your best possible credit score.\nOnce you're ready to seek a loan, however, it's OK to submit applications to multiple lenders to shop for the best combination of interest rates and fees. You don't have to worry that doing so will mean a cumulative hit on your credit scores: The FICO® Score☉ and VantageScore models are designed to allow for rate shopping on loans, so they treat multiple inquiries related to loans of similar type as one, as long as they occur within a short time of one another. To play it safe, keep your rate shopping within a two-week period. END