• Part of your credit score considers the number of inquiries made for your credit report. Credit inquiries are placed on your credit report each time a business requests a copy of your report. The Fair Credit Reporting Act (FCRA) requires businesses to have an acceptable reason for accessing your credit report. Acceptable reasons include:

    • To grant credit
    • Collect a debt
    • Underwrite insurance
    • Employment
    • License issuing by some government agencies
    • Legitimate business transactions

    Each inquiry that reports can drop your credit score anywhere from 2-5 points. The inquiries on your credit report will remain for two years but only affect your credit score for one year.