What Is the Difference Between a Hard and Soft Credit Pull? (2024)

FAQs

What Is the Difference Between a Hard and Soft Credit Pull? ›

These credit checks are commonly referred to as hard inquiries. Typically, hard inquiries occur when you apply for new credit or services. A soft inquiry is a credit check that does not damage your credit score in any way, since you are not applying for new credit.

Credit pulls are when someone — even you — checks your credit. Lenders run hard checks when you officially apply for credit, which can cause your credit score to drop slightly. Soft checks, on the other hand, are for preapprovals or when you check your own credit, and they don't affect your credit score.

Soft credit checks are done by various companies and individuals. These inquiries into your credit history normally don't affect your score and are only used to see if there is any credit history. A soft credit check for a car is a worrisome process for many people.

A soft credit occurs when a donor makes a gift but credits someone else for it. The hard credit goes to the account or donor. However, a soft credit goes to the one who receives the credit for it.

If you apply to prequalify for a loan, the lender will also do a soft credit pull. If you like the rate and terms in your offer, you can then decide to officially apply for that loan, which will require a hard credit pull. Other instances of a soft credit check can include renting an apartment or applying for a job.

A hard inquiry, or a "hard pull," occurs when you apply for a new line of credit, such as a credit card or loan. It means that a creditor has requested to look at your credit file to determine how much risk you pose as a borrower. Hard inquiries show up on your credit report and can affect your credit score.

A hard credit is a credit for a donation that a Contact or Account made. In other words, the donor “signed the check.” A soft credit is a credit for a donation that a Contact or Account did not make themselves, but may have somehow influenced.

A soft pull on your credit shows basic personal information, a summary of your credit history, recent inquiries, any public records related to your credit, and sometimes a summary of your credit scores. It does not reveal detailed account-specific information and doesn't affect your credit score.

Soft checks stay on your credit for up to two years, but only you can see them. Hard checks stay on your credit for up to two years, and anyone who pulls your credit reports can see them.

A 'hard' credit check is completed when you submit a full application for credit, or to use some services, which will involve a review of your credit report and may impact your credit score. Hard credit checks are often completed when a company is: Lending to you, e.g. for a mortgage, loan or credit card.

How many points is a soft pull on credit? ›

A soft inquiry does not affect your credit score in any way. When a lender performs a soft inquiry on your credit file, the inquiry might appear on your credit report, but it won't impact your credit score.

Can I 'fail' a soft credit check? Don't worry, you can't 'fail' a soft credit check. With a soft search, you're not actually applying for anything – so it won't result in a lender's decision.

If you check your own credit through any type of app or via AnnualCreditReport.com, it's technically a soft credit check.

Soft inquiries do not affect credit scores and are not visible to potential lenders that may review your credit reports. They are visible to you and will stay on your credit reports for 12 to 24 months, depending on the type. The other type of inquiry is a “hard” inquiry.

A hard credit inquiry could lower your credit score by as much as 10 points, though in many cases, the damage probably won't be that significant. As FICO explains, “For most people, one additional credit inquiry will take less than five points off their FICO Scores.”

Unlike hard inquiries, soft inquiries won't affect your credit scores. (They may or may not be recorded in your credit reports, depending on the credit bureau.) Since soft inquiries aren't connected to a specific application for new credit, they're only visible to you when you view your credit reports.

In order for them to access this information, they will request what is known as a “soft” pull on your credit. It's a type of inquiry that doesn't affect your credit score like a “hard” pull on your credit. Either way, your credit needs to be unfrozen for them to retrieve this information.