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What is a hard Inquiry?

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What Is a Hard Inquiry?

A hard credit inquiry can take some points off your score for a short period, however the soft inquiry won’t impact it.

By NerdWallet Follow NerdWallet’s social media for updates

February 3, 2023

Written by Kathy Hinson Lead Assigning Editor Personal financial, credit scoring, debt and money management Kathy Hinson leads the core personal finance team at NerdWallet. Prior to joining NerdWallet, she worked for 18 years at The Oregonian in Portland in positions such as copy desk chief and team editor and designer. Her previous experience includes news and copy editing at various Southern California newspapers, including the Los Angeles Times. She earned a bachelor’s degree in mass communication and journalism in the University of Iowa.

A majority of the products we feature come from our partners who pay us. This impacts the types of products we review and where and how the product is featured on a page. However, this does not influence our evaluations. Our opinions are our own. Here’s a list of and .

An inquiry that is hard to answer is to check your credit, typically to determine the viability of an loan or credit card application. It may shave some marks off of your score, however, it’s only temporary.

If you conduct a credit check yourself, it’s considered a soft credit inquiry or soft credit check. It doesn’t impact your credit score.

The Fair Credit Reporting Act places limitations on the time and place your credit report can be inspected.

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What is a hard inquiry?

A hard inquiry, also known as a hard pull or hard credit check, requires your consent. It is triggered when you make an application for credit like a mortgage, credit card, auto loan, credit card, student loan and personal loan. It doesn’t happen when you’re looking for pre-qualification to decide whether or not to apply.

This inquiry becomes part of your credit report, which means anyone who looks up your credit can see it. A hard inquiry will remain on your credit report for , but it stops affecting your credit score in less than a year.

What does a hard inquiry influence your credit score?

A single inquiry could reduce five points from you FICO score. With the most widely used FICO model every inquiry within a 45-day time frame are considered to be one inquiry when you’re » ,» such as for mortgage, student or auto loans. Older FICO models as well as VantageScore the FICO competitor also group inquiries for rate shopping, but in a 14-day period. A VantageScore spokesman said a hard inquiry can shave up to 10 points off of a VantageScore.

The majority of card issuers or lenders will pull a credit report from one of the three major credit bureaus- Equifax, Experian or TransUnion. So the inquiry will appear on only one of your credit reports. The exception is for mortgages, where the three bureaus of credit are examined.

It is advisable to avoid making hard inquiries. Before you make an application for credit, make sure to be as certain as possible that you’re likely to be approved to ensure that you don’t lose score points without getting the approval you desire. Don’t apply for credit in a hurry. Consider whether a discount or bonus that you are looking forward to receiving is worth the possible ding to your credit score. If you have some points, it might not be too significant. However, if you have low credit scores, think twice.

What is an inquiry that is soft?

Soft inquiries, sometimes referred to as soft pulls or credit checks, may occur without your knowledge. If you’ve ever received a credit-card offer via mail, chances are the company offering the credit card performed an informal credit check to determine if you likely qualify. Similar to other types of loan offers and mortgage offers, as well as when a mortgage broker or lender performs a pre-qualification or preapproval.

Employers can also conduct a background check on you as well as a review of a modified credit report. While they need your consent to review you credit file, the information is not considered a hard inquiry because it’s not for the purpose of deciding whether to give your credit.

Most importantly, is a soft inquiry, so it won’t affect your score. It is possible to get your reports on demand from websites for personal finance such as NerdWallet. Also, you can receive your credit reports from three major credit bureaus. The reports are free and, until the end of 2023, you’re allowed to receive one report from each bureau per week.

When you review your credit reports there are soft inquiries listed, but those don’t show up on the credit reports that lenders view.

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Hard credit inquiry or soft inquiry?

Some questions can be one of two types: hard or soft. If you are renting a vehicle or want to apply to lease an apartment or subscribe to cable TV or internet service and open an account at an institution of finance or to confirm their identity, you might be confronted with a hard inquiry or a soft one. One way to know beforehand is to inquire with the prospective owner or provider.

In the end, if you believe that a hard inquiry appears in your credit report, but should not be then you can other inaccurate information. It’s definitely worth pursuing as it could indicate fraud or .

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