Mastering Your Credit Score: Expert Tips For A Healthy And Accurate Profile
News 18A credit score is a numerical representation of an individual’s creditworthiness. “Hard inquiries may temporarily impact the credit score, as they signal to lenders that the person might be acquiring additional debt,” says Chattopadhyay. “When you access your credit report from any credit bureau, it is classified as a soft inquiry, and it does not have any impact on your credit score,” says Chattopadhyay. “A high utilisation ratio may indicate reliance on credit and difficulty managing debt, which can make lenders hesitant to extend additional credit or offer favourable terms,” says Shetty. “It is advisable to also contact the lender whom you have identified as having reported inaccurate information in your credit report and submit a formal dispute letter with supporting documents,” says Chattopadhyay.