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What’s the Difference Between Hard and Soft Credit Inquiries? – HUNT Mortgage

When a credit report is pulled to check your credit score, an inquiry is conducted. There are two types of inquiries, hard and soft credit inquiries. find out the primary difference between the two and how it affects your credit score.

The answer comes down to the difference between hard and soft credit inquiries. Soft and Hard Credit Inquiries: The Basics. The term "inquiry" describes the event that occurs whenever some party is granted access to one or more of your credit reports. If you’ve taken the time to review your credit reports lately, you may have noticed a.

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There are two flavors of credit check; here's what they are, and how to tell the difference.

"Hard" inquiries, the type that occur when you apply for credit, have the potential to negatively impact your credit scores. About 10% of your credit score points are based on the presence or lack of inquiries on your credit reports. "Soft" inquiries, as mentioned above, will never impact your credit scores at all.

The difference between hard and soft credit inquiries. Posted on March 7, 2018 by Norm Schriever Most people check their credit periodically, such as when they’re about to apply for a big loan, once a year, or every four months (like you should).

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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.

These are called soft inquiries, and there’s nothing to fear. Inquiries made as the result of an application you have made are hard inquiries. Hard inquiries are sometimes referred to as a hard pull because the creditor has pulled your credit report. In some cases, a creditor or lender will tell you which type.

You first have to understand the difference between a soft credit inquiry and a hard credit inquiry. A hard pull impacts your credit score and can cause it to go down, a soft pull does not have an impact on your score. Which Inquiries are soft pull. background checks; When your lender pre-approves you for a mortgage