{"id":5155,"date":"2019-01-06T16:55:03","date_gmt":"2019-01-06T21:55:03","guid":{"rendered":"http:\/\/www.avant.com/blog\/?p=5155"},"modified":"2022-08-24T16:13:21","modified_gmt":"2022-08-24T21:13:21","slug":"whats-the-difference-between-hard-and-soft-credit-report-inquiries","status":"publish","type":"post","link":"https:\/\/www.avant.com\/blog\/borrow\/whats-the-difference-between-hard-and-soft-credit-report-inquiries\/","title":{"rendered":"What\u2019s the Difference Between Hard and Soft Credit Report Inquiries?"},"content":{"rendered":"

<\/b>You\u2019ve probably heard that the number of inquiries on your credit report may affect your credit score. The greater number of inquiries you have may negatively impact your score. There are two different types of inquiries: hard and soft.<\/span><\/p>\n

Both types of inquiries will allow a lender to view your credit report, however, only hard inquiries can negatively affect your score. If you\u2019ve been searching for a credit card, student loan, or even a personal loan, you may have seen websites state that applying for certain types of credit won\u2019t affect your score. When lenders state this, they are pulling a soft inquiry for pre-qualification purposes. <\/span><\/p>\n

What is a Hard Inquiry?<\/b><\/h3>\n

If you\u2019re applying for any type of credit, you must give lenders an authorization to check your credit report. Hard inquiries are made when a financial institution is making a lending decision to the consumer. This can include\u00a0mortgages, student loans, credit card, personal loans, or even auto loans. The key to understanding the main difference between a hard and soft inquiry is that hard inquiries could lower your credit score. Hard inquiries will be visible to all lenders. For example, if you apply for a credit card and have an inquiry marked on your credit report, and then the following month you apply for an auto loan, the auto lender will be able to see that you applied for a credit card.<\/span><\/p>\n

The impact of hard inquiries is minimal compared to other credit factors that make up your score. They only represent 10% of your score whereas your payment history makes up 35% of your score. However, that doesn\u2019t necessarily mean that it\u2019s okay to have multiple inquiries whenever you\u2019re searching for a credit card or a loan. Having a lot of inquiries during a short amount of time may signal to a potential lender that you\u2019re trying to get a lot of credit in a short amount of time. Inquiries will last on your credit report for two years.<\/span><\/p>\n

What is a Soft Inquiry?<\/b><\/h3>\n

The other type of inquiry is called a soft inquiry. This is also known as a \u201csoft pull\u201d. These types of inquiries do not affect your credit score at all. Unlike a hard inquiry, when a lender views your credit report they will not see the soft inquiries on your report. So when do soft inquiries occur?<\/span><\/p>\n

Soft inquiries can take place when:<\/span><\/p>\n