How does a hard inquiry affect my credit score?

Hard inquiries create a two-year record of your credit applications. FICO score considers these inquiries in its score, although it will only lower your score by a few points.

How does a soft inquiry affect my score?

Soft inquiries will not impact your credit score because you have no control over which companies review your score or the reviews’ frequency.

How long will inquiries stay on my credit?

Hard inquiries, track the number of times you apply for credit and remain on your credit file for two years. They only impact your score for the first year.

October 2020

10 Oct

Hard Inquiries vs. Soft Inquiries and How They Impact your Credit Score

Posted Under: Blog , Credit Score

You don't want to do anything that could lower your credit score because you are afraid you might need a...

07 Oct

Speed Up Your Settlement Program by Overfunding Your Next Savings Deposit with Your Tax Refund

Posted Under: Blog , Debt Settlement , Taxes

Every month that you continue to fund your debt settlement savings account means you are that much closer to living...

05 Oct

Debt Consolidation Strategies: Balance Transfer Credit Cards vs. Personal Loans

Posted Under: Blog , Credit Cards , Debt Consolidation

High credit card balances carried over month after month is a weary process because the minimum payment barely moves the...

03 Oct

Understanding Credit Lifecycle: What Happens To All That Debt?

Posted Under: Blog , Debt Collection , Debt Relief

Part 1: Stages of The Credit Lifecycle and How the Value of Debt Changes Over Time In an effort to...

REPRESENTATIVE EXAMPLE OF APR

For example, a $30,000 loan with a 4.99% APR over 5 years (60 months) would result in a monthly payment of $566, with total interest paid amounting to $3,959.97. This could save you thousands in interest compared to higher-rate debt.

ANNUAL PERCENTAGE RATE (APR)

Annual Percentage Rate (APR) represents the annualized interest rate you are charged for borrowing. It is the combination of the nominal interest rate and some additional costs such as fees involved when incurring debt. Our lender offers APRs for personal loans, cash advance loans, installment loans and debt consolidation loans from 4.99% to 35.99%. Since New Start Capital does not directly issue loans, we cannot deliver any specifics or guarantee the APR you will be offered. The APR depends solely on your lender’s decision, based on various factors including your credit score, credit history, income, and some other information you supply in your request. For more information regarding the APR contact your lender.