Differences between Hard & Soft Credit Pulls

Dated: November 15 2021

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Credit Pulls: Credit Pulls or Credit Inquires means the same thing. Either one can occur when an outside party accesses your credit report.
An outside party could be a credit card company, a bank, an employer etc.

Hard Pull or Hard Inquiry: A hard pull or inquiry results in a small ding to your credit score. Having it pulled multiple times within a small period of time can add up in a negative way. An example might be when you're applying for several different credit cards. When a lender sees too many inquiries it may be a sign to them that you're desperate for cash and may have trouble repaying debts. Any Hard inquiry requires your authorization.

Soft Pull or Soft Inquiry: This one is more of a general background check. A person or a company accesses your credit report for purposes other than making a lending decision. Maybe you applied for a new job or you're pre-qualifying for a car loan. A soft pull is not a guarantee of being approved for anything. This WILL NOT affect your credit score. Depending on the specific credit bureau calculating your score, the pull may not show up on your credit report at all. This pull does not need your authorization.

We hope this helps clear up the pulls.

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Sharon Lucido

Both my Dad and my Father-in-law were Real Estate Brokers. From watching them, I learned that real estate is not just about buying and selling, it's an emotional process that should be handled with ho....

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