I have searched the old posts, but cannot find specific answers to my questions. can someone help? What is a hard inquiry? I destroyed my credit in college with 3-5 months of late payments. I got my act together and paid off the credit cards. I was an authorized user on my fathers credit card with a limit of 10,000 which I just paid off ( I think the balance got up to $9000). I just had him close the account and I opened one B of A credit card. They gave me a $5000 limit and also an american express blue card with a 2000 limit. I also pay my student loans each month totally on time...I have never been late. given this info. Do you think my credit is okay? I had three cards in college that I was delinquent with (the ones I eventually paid off and closed...except one was closed at the creditors request) Thanks for any insight.
A hard inquiry counts toward your credit score. Typically, you will get a hard inquiry whenever you apply for credit. A soft inquiry (which doesn't affect your score) occurs when an existing creditor--usually a credit card company-- reviews your credit history to determine whether to change your APR or credit line. You can pull a copy of your credit report on line from one or all three of the credit reporting agencies and get your score. This is the only way to know how good it is. I suspect it must be ok since you received two good cards.
Agree. Soft inquiries usually have prm (promotional) Am or Ar (periodic review by creditors-remains only 12 mos.) Credit Bureau-active response for copy of c/ report or request for research. These inquiries do not show on c/r's that business receive, only on copies to you. Hope this helps
