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credit inquiries checks your credit report. soft (not affecting your score) hard (potentially lowering

Question

Credit inquiries are checks on your credit report. They can be either soft (not affecting your score) or hard (potentially lowering your score). Label each action as either a soft or hard inquiry. Soft inquiry Hard inquiry applying for a mortgage applying for a car loan pre-approved credit offers in the mail

Answer

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Verificación de expertos
Emily Professional · Tutor for 6 years

Answer

### Applying for a mortgage: Hard inquiry### Applying for a car loan: Hard inquiry### Pre-approved credit offers in the mail: Soft inquiry

Explanation

## Step1: Define the types of inquiries### Credit inquiries can be categorized into two types: soft inquiries and hard inquiries. Soft inquiries do not affect your credit score, while hard inquiries can potentially lower your score.## Step2: Classify each action### We need to determine whether each action listed is a soft or hard inquiry based on its impact on the credit score.### - Applying for a mortgage: This is a hard inquiry because it involves a lender checking your credit report to make a lending decision.### - Applying for a car loan: This is a hard inquiry because it involves a lender checking your credit report to make a lending decision.### - Pre-approved credit offers in the mail: This is a soft inquiry because it does not involve a lender making a lending decision based on your credit report.