A hard inquiry is an inquiry that occurs when a prospective lender checks your credit report to make a lending decision. Hard inquiries can slightly lower your credit score and will typically stay.
Soft credit checks aren’t visible to companies, but hard credit checks are. That means that soft credit checks won’t impact your score (no matter how many of them there are), while each hard credit check may lower your score.
A hard credit check will dent your credit score more than a soft credit check. Read on to learn more about the difference between credit checks. When readers buy products and services discussed on our site, we often earn affiliate commissions that support our work.
What’s the difference between "soft and hard" credit inquiries? You may often see credit inquiries referenced as hard or soft inquiries and wonder what that means. Whenever you apply for credit, the lender will pull your credit report(s) and credit score. Lenders use this information to help them decide.
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What is the difference between hard and soft credit checks? Some lenders can give you estimated loan terms or pre-approval based on a soft pull, but require a hard pull if you want to proceed with the application. However, it can sometimes be difficult to determine if even a short application will result in a hard or soft inquiry.
Hard inquiries commonly take place when consumers apply for a credit card, auto loan, mortgage or other loan. On the other hand, soft inquiries typically occur when employers access your report to look for signs of risk or you check your own credit report or score from sites like Credit Karma, Credit Sesame or MyFICO.
Hard vs. soft credit inquiries Two kinds of inquiries can occur on your credit report, hard inquiries and soft inquiries. While both types enable a third party (i.e., your lender or employer) to view your credit report, only hard inquiries can negatively affect your credit score.
You’d be no closer to getting a product you need, there’d be a wasted inquiry on your credit report, and Credit.com wouldn’t get paid. These are essentially what are commonly referred to as.
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