You’ve probably heard it’s a bad thing to have your credit report pulled too often.

Well yes and no.

First, you should know the difference between what’s called a “soft pull” and a “hard pull”.

• A soft pull is a credit inquiry you request yourself, or one that’s done for promotional offers. Those preapproved offers you get in the mail.
  
  
• A hard pull or inquiry are the ones to watch closely. They come from potential lenders when you apply for a loan. The good news is, they get lumped together. So if you’re shopping for a new car and suddenly you have a lot of credit inquiries, the credit bureaus understand you’re shopping around.  Still, they make note of a hard credit inquiry.

So when it comes to your credit report, be very careful about who’s checking it out.

Do us a favor please.  Tell your friends about us so they can be smarter about their money too.