When applying for loans, credit cards, or checking your credit, a credit inquiry is recorded on your report. However, not all inquiries impact your credit score.
At Credit1Solutions, we help clients understand, manage, and reduce unnecessary hard inquiries to protect their credit scores.
Need help managing inquiries? Call Credit1Solutions at 877-782-7839 today!
What Are Soft Credit Inquiries?
Soft inquiries, also known as soft pulls, occur when your credit is checked without a formal loan or credit application.
– No Impact on Your Credit Score – Soft inquiries do not affect your credit score.
– Used for Background Checks & Pre-Approvals – Lenders often check creditworthiness before extending offers.
– Common Soft Inquiry Examples:
- Checking your own credit score
- Employer background checks
- Pre-approved credit card offers
- Utility or rental applications
Credit1Solutions Pro Tip:
Checking your credit through a monitoring service is always a soft inquiry!
What Are Hard Credit Inquiries?
Hard inquiries, or hard pulls, happen when you apply for a loan or credit product, and the lender reviews your full credit report.
– Can Lower Your Credit Score – Hard inquiries may reduce your score by 3-5 points.
– Recorded on Your Credit Report for Two Years – Only affects your score for 12 months.
– Common Hard Inquiry Examples:
- Applying for a mortgage, auto loan, or personal loan
- Applying for a new credit card
- Requesting a credit limit increase
- Some rental and insurance applications
Credit1Solutions Pro Tip:
Too many hard inquiries in a short period can make you look risky to lenders!
How Credit Inquiries Affect Your Credit Score
– Multiple Hard Inquiries Can Lower Your Score – More than 3 inquiries in 6 months may raise red flags.
– Rate Shopping for Loans? Use a Short Window – Credit scoring models group inquiries within 14-45 days as one inquiry.
– Soft Inquiries Are Safe – Soft inquiries never hurt your credit score.
Need expert credit guidance? Contact Credit1Solutions today!
When Do Lenders Use Soft vs. Hard Inquiries?
Soft Inquiries Are Used For:
– Pre-approvals for credit cards or loans
– Employer background checks
– Checking your own credit report
Hard Inquiries Are Used For:
– Mortgage applications
– Auto loans
– Personal loans & new credit cards
Credit1Solutions Pro Tip:
Always ask a lender if an inquiry will be soft or hard before applying!
FAQs About Soft vs. Hard Credit Inquiries
Do soft inquiries show up on my credit report?
Yes, but only you can see them. Lenders do not see soft inquiries.
Can I dispute a hard inquiry?
Yes, if it’s unauthorized or fraudulent. Call 877-782-7839 for help!
How long do hard inquiries stay on my report?
Up to 2 years, but they only impact your score for 12 months.
Conclusion: Manage Credit Inquiries Wisely
Understanding the difference between soft and hard credit inquiries can help you protect your credit score and secure better loan approvals. Credit1Solutions provides expert strategies to manage and dispute inquiries when necessary.
Call Credit1Solutions at 877-782-7839 today!