A hard inquiry stays on your credit report for up to two years, but it typically only affects your credit scores for one year. This means that the impact of a hard inquiry on your credit score will gradually decline over time.
Here is a table summarizing how long hard inquiries stay on your credit report and how long they affect your credit scores:
|Stays on credit report for
|Affects credit scores for
|Up to 2 years
|Up to 1 year
|Does not affect credit scores
A hard inquiry is a request for your credit report that is made by a potential creditor when you apply for a loan, credit card, or other type of credit. Hard inquiries can temporarily lower your credit score because they show that you are seeking new credit. However, the impact of a hard inquiry is usually small and will only last for a short period of time.
Here are some tips for managing hard inquiries on your credit report:
- Limit the number of hard inquiries you have in a short period of time. If you apply for several loans or credit cards in a short period of time, it might appear to lenders that you are overextending yourself and that you may not be able to repay your debts.
- Check your credit report regularly to make sure that you are aware of all of the inquiries that have been made on your credit. If you see any inquiries that you do not recognize, you can contact the creditor to dispute them.
- If you are concerned about the impact of hard inquiries on your credit score, you can consider getting a secured credit card. A secured credit card is a type of credit card that requires you to deposit a security deposit, which is typically equal to the credit limit of the card. This can help to improve your credit score by showing lenders that you are able to repay your debts.