When you get in touch with a lender to get a loan, lenders look at your credit history to decide whether to give you a loan or not and at what terms. When a lender checks your credit report, they make a hard inquiry on your credit. Your credit report has a special section in which your hard inquiries are enlisted. They may stay on your credit report for as long as two years. If there are too many hard inquiries in your credit report, lenders perceive you as a credit-hungry borrower.