Inquiries & Personal Credit

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Created on 12/20/2016 by Thomas (TJ) Underwood of Realty 1 strategic Advisors

Learn how inquiries can negatively affect your credit and credit score...


Did you know that the number of Inquiries on your credit report is a key factor in maintaining and improving your credit? 

It is important that you keep inquiries (hard pull of your credit file) at a minimum if you are in the process of maintaining or improving your credit.


In this discussion of the 5 factors that affect your credit we will discuss the importance of keeping inquiries by your creditors (hard pull) at a minimum.

It is important that you realize that you can pull your credit and credit score and that is called a soft pull and it will have no or very little effect on your credit score.  

The same is basically true of your current creditor(s) that you may have.

However, when you apply for new credit or a new loan many creditors or "potential creditors" will do a hard pull and the effect of that would normally cause your credit score to drop some.  

If several creditors or potential creditors pull your credit within a certain period of time your credit could be affected even more.

Remember the five credit factors include:

Negative Information (you must do all that you can to keep it off of your credit report—you tell me all about "Payment History and the importance of keeping Negative Info out of your credit file" after reading this article—LOL—no seriously)  also known as your Payment History— comprises 35% or is

1st in importance of the credit factors


Utilization or how you Use Your Credit (do your best to keep your account balances low or at zero)—30% or

2nd in importance of the credit factors


Time Factor or how long you Keep Your Accounts Open (be sure to keep older accounts with a positive payment history open)—15% or

3rd in importance of the credit factors


Type of Credit or your Credit Mix—which we discussed in a previous article (you tell me all about "the types of credit"—LOL—no seriously)—10% or

4th in importance of the credit factors


Inquiries or how many creditors do a Hard Pull of your credit file (keep your hard inquiries to a minimum if you are trying to improve your credit in a timely manneryou tell me all about "the importance of inquiries"—LOL—no seriously)—also 10% or

The same level of importance as the "type of credit" mentioned above


100%get the picture…


It is important that you do not apply for too much credit (numerous inquiries) if you are in the process of improving your credit and credit score. 

Even though your utilization rate may fall, the mere fact that you are applying for new credit may offset that fact and pull your score down depending on a number of factors including the "type" of credit that you are applying for and ultimately receive.

Be sure to keep "inquiries" by those new creditors to a minimum or not at all if you desire to improve your credit score more efficiently.  

If applying for similar credit from a number of creditors do your credit pull within a tight window (same day) if possible.

By applying for new credit you also affect the "age" or "time length" of your accounts and that too will pull your score down.

Your effective application of this factor (keeping inquiries to a minimum if you are trying to build and use your credit in the near future) along with the other 4 credit factors listed above will put you on path to getting you where you need to be as you pursue your credit and financial goals.

By mastering the 5 credit factors you now understand your credit roles!

You have now passed the test...


Wishing you all the best in your credit and financial future...

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About This Article:


The above article was written by Thomas (TJ) UnderwoodThomas (TJ) Underwood is a former fee-only financial planner, a former top producing loan processor and is currently a licensed real estate broker in the state of Georgia. 

He is the writer behind The Real Estate & Finance 360 Degrees Series of Books that include The Wealth Increaser, Home Buyer 411 The Smart Guide to Buying Your Home, Home Seller 411 The Smart Guide to Selling Your Home, and  Managing & Improving Your Credit & Finances for this MILLENNIUM.

In addition he is also the writer who created The 3 Step Structured Approach to Managing Your Finances, and CREDIT & FINANCE IMPROVEMENT MADE EASY—NEW GUIDE that you can download right now "(at MIMIMAL cost $3.95)" to learn more about his writing style and how you can achieve "more" success in the current economy.

He is the creator of where he regularly blogs about helping consumers improve their credit, finance and real estate pursuits in an intelligent, consistent and proactive manner. 

He’s always looking for ways to make intelligent finance improvement happen for those who “sincerely desire” success in their future. He was the first financial planner to coin the phrase "financially alert mind"  and he consistently writes in a style that is designed to provide consumers the ability to take control of their lives and achieve great results.

You can contact him from a number of sources but the most direct way is to contact him through the contact us block that can be found at the bottom of this page.  You can also get highly relevant tips on "living your life more abundantly" and link to and possibly earn revenue by logging on to

He is also an IRS registered tax planning professional with over 30 years of tax experience and can be reached at:



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