Let’s take a look at a common scenario…

You’re at the checkout line of your favorite hardware store, the total comes out to $95. The friendly cashier at the counter smiles at you and asks if you’d like to sign up for a store credit card, you’ll get $50 off your purchase, you can even pay it today and not have to worry about it. You think to yourself, “WOW Great Deal! That’s like getting 50% off,” and proceed to sign up. But what many consumers don’t know, is that when you just signed up for that credit card, even though you paid it off, you put a hard inquiry on your credit report, which may impact your credit score and will show up on your credit report.