Impact of Hard Inquiries on CIBIL Score  

Impact of Hard Inquiries on CIBIL Score || bekifaayati #youtubepartner #shorts #youtubeshorts
When a financial institution or bank pulls your credit report from credit bureaus this is considered a hard inquiry.
Every time a hard inquiry hits your credit report, your credit score drops a few points, regardless of whether you get the credit approval or not.
On the other hand, if you check your credit report yourself or apply for a prequalification, it’s considered a soft inquiry and does not hurt your credit score.
Although hard inquiries stay on your credit report for over two years, the credit bureaus only consider inquiries from the last 12 months when calculating your credit score.
You should make sure you do not apply for too many credits at once and rack up a bunch of hard inquiries. and most importantly, pay your bills and debts on time and in full to maintain a good credit score