Is it true that soft inquiries such as pre-approvals and self-checks do not affect your score?

Soft inquiries such as pre-approvals and self-checks do not affect your score

Is it true that multiple mortgage or auto inquiries within 14-45 days count as one?

Multiple mortgage or auto inquiries within 14-45 days count as one

Is it true that hard inquiries remain on your report for 2 years but score impact fades after 1 year?

Hard inquiries remain on your report for 2 years but score impact fades after 1 year

2-10 point typical impact

Hard vs. soft credit inquiries

Not all credit checks affect your score. Hard inquiries do; soft inquiries do not. Here is the difference and the rate-shopping exception.

Quick answer

Credit inquiries come in two forms: hard inquiries (when you apply for credit) cost 5-10 FICO points and stay on your report for 2 years, though impact fades after 12 months. Soft inquiries (your own checks, pre-approvals, employer screens) have no impact on your score. Multiple hard inquiries for the same loan type within 14-45 days count as a single inquiry — designed to allow rate shopping.

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Key takeaways

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Hard inquiries occur when you apply for new credit
Soft inquiries such as pre-approvals and self-checks do not affect your score
Multiple mortgage or auto inquiries within 14-45 days count as one
Hard inquiries remain on your report for 2 years but score impact fades after 1 year

A credit inquiry is a request to view your credit report.

Soft inquiries: Do not affect your score. Examples:

Checking your own credit
Pre-qualification checks by lenders
Employer background checks

Hard inquiries: Occur when you apply for new credit. Examples:

Credit card applications
Mortgage, auto loan, or personal loan applications

Hard inquiries typically reduce a FICO score by 2-10 points, with most recovering within a few months.