What does Credit injury mean?
When a lender requests an individual’s credit record a document named credit inquiry is created. This inquiry is a document that contains all of the records of the consumer’s credit report, along with the number of times the report has been pulled either by a lender, a borrower or even a potential lender and has successfully obtained a copy of the individual’s credit report. This is a pretty standard procedure, but multiple inquiries, can have a negative impact on an individual’s credit score.
There are two types of inquiries, the soft inquiry is a standard inquiry and it does not impact the person’s credit score at all, while the hard inquiry can have a negative effect on one’s scores if it is done over a longer period of time.