Hard Inquiries Explained (Stop Freaking Out!)

Hard Inquiries or Hard Hits are when you apply for credit. Will they lower your score? Find out what you need to know about Hard Inquiries and why it is not worth Freaking out about!
Resources:
- How to get your Free Equifax Report - kzbin.info/www/bejne/kGGWkHesm6uMaZo
- How to get your Free TransUnion Report - kzbin.info/www/bejne/gWfEkIVunL95pNk
- The Score you see is not the one the banks use - kzbin.info/www/bejne/bIq3iHd3ecybfpY
- How to Dispute errors on Equifax - kzbin.info/www/bejne/d4qklZqdZpV9n5I
- How to Dispute errors on TransUnion - kzbin.info/www/bejne/Z4fTpWN7eKqrq68
00:00 Hard Inquiries Explained
00:41 Hard Inquiries / Hard Hits
00:55 Soft Inquiries / Soft Hits
01:22 How many points is a hard inquiry
02:30 Is the score the consumer see similar to the bank score?
03:15 Why does Checking Credit Score Lower it?
03:59 De-Duplication - Vehicle and Mortgage Financing
05:10 Each lender shows up
06:13 Difference between how Hard Inquires affect the different scores
07:25 How to stop hard inquiries on the credit report
08:15 Withdrawal of Consent
09:16 Hard Inquiry Removal in 24 Hours?
09:51 Why it is difficult to get an Inquiry removed
09:45 How to dispute Hard Inquiries from the dispute
MY STREET CRED
- creditgame.net/street-cred/
RESOURCES BOOK
- The Credit Game - www.amazon.ca/Credit-Game-Rules-Ever-Canadian/dp/B081D9SW18/ref=sr_1_1?crid=10GHO4KBFX7K1&keywords=The+credit+game&qid=1654099846&sprefix=the+credit+gam%2Caps%2C100&sr=8-1
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ONLY FOR CANADIAN MORTGAGE PROFESSIONALS
*If you are a Canadian mortgage professional below are the links to the private pages*:
Facebook: groups/731868324863099
Linked: www.linkedin.com/groups/14056075/
DISCLAIMER This KZbin channel is produced for your general education and entertainment. We have done our best to ensure that the information provided is correct and helpful, however, nothing on this KZbin Channel should be considered financial advice. We cannot be held liable without knowing your specific credit or financial situation. Email me directly at [e-mail] if you would like a one-on-one consultation.
#inquiries #creditgamecanada #credittv

[@kewtd72]

How long does it take for your credit score to rise, so lets say i have 2 credit cards i keep them both under the 30% utilization amount anytime i use them. i pay both cards off every 3 months. I know you also calculate utilization amount by combining all credit together and so long as you stay below the 30% that will help your score. So is the score calculated every 6 months or longer?

[@CreditTV]

If I understand correctly, you are looking to know how often the credit score is calculated? If so, the score calculates everytime it receives new information. For example, if your one credit card submits information to the credit report on the 17th, the score will adjust based on the new info. If the next day your other credit card reports new information, the score would adjust once again. So, the score is constantly changing whenever there is a change to the information on your report.