Does loan approval count as the number of inquiries?
As we all know, there are two kinds of inquiry records: personal inquiry and institutional inquiry. Generally, the query quantity is institutional query, but it also depends on the type. There are several types of institutional inquiry, such as credit card approval, loan approval, guarantee qualification examination, post-loan management, etc. The first three types are collectively called hard inquiry records, which are counted as inquiry times.
There is a loan approval record in the inquiry record, which shows that the borrower was investigated by the institution because he applied for a loan. The reason for inquiry is loan approval, which must be counted as inquiry times. To this end, it is best for everyone to grasp the frequency of loans for credit investigation, and not to apply frequently in the short term, otherwise too many inquiries are not conducive to the approval of credit business.
How to remedy too many credit inquiries?
Generally, if the number of hard query records exceeds 5 times in 3 months and 8 times in 6 months, it means that the number of query records is very large. Records in the credit report are not allowed to be deleted artificially, nor are the inquiry records allowed to be deleted artificially, but the inquiry records will not be kept permanently and will be eliminated within 2 years from the date of occurrence.
Too many times have been recorded for this query. If you want to remedy it, you should control the frequency of handling cards and loans, and don't let credit information be queried again in the short term. Note that it does not mean that there will be loan approval records only when loans are made. For example, some loan platforms often make small advertisements to inquire about credit information, and if they do, they will also inquire about credit information because of loan approval.
The above is "What is the loan approval inquiry?" I hope it will help everyone.