Credit inquiries not all the same – be aware!

I learned something about credit inquiries. If YOU make an inquiry on your credit, it’s a “soft” inquiry and doesn’t give you a “black mark.” If a bank inquires because you’re interested in getting a business loan, that’s a “hard” inquiry and it does show up and can count against you. If you are going to multiple banks to apply for your loan, FIRST get copies of your credit report from all three credit bureaus (Experian, Equifax, and TransUnion). Take these reports along and show them to the bank instead of letting them check your credit. Only when you’re really ready to deal with a bank should you let them directly check credit.