Business, Legal & Accounting Glossary
Inquiry by a business or person into an entity’s credit history. Credit inquiries are used to verify a party’s ability to repay some type of loan or monthly payment. Each time a credit inquiry is made, points are deducted from the borrower’s credit score. Most inquiries would show up on a credit report provided by one of the three major credit bureaus.
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This glossary post was last updated: 20th November, 2021 | 0 Views.