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Soft Inquiries vs. Hard Inquiries

As you know, credit inquiries are divided into two categories: hard inquiries and soft inquiries. Soft inquiries are requests for credit information that do not affect your credit score, because unlike with hard inquiries, you are not actually requesting new credit.

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Soft Inquiries vs. Hard Inquiries

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  1. Soft Inquiries vs. Hard Inquiries

  2. As you know, credit inquiries are divided into two categories: hard inquiries and soft inquiries. Soft inquiries are requests for credit information that do not affect your credit score, because unlike with hard inquiries, you are not actually requesting new credit.

  3. The most common types of soft inquiries are: Requesting your own personal credit score Employment background checks for a job Being pre-approved for a loan or credit card

  4. Occasionally, soft inquiries can also include: Opening a new checking or savings account Getting a cable, internet, or cell phone account Renting a vehicle which requires a credit check Verifying identity at a credit institution or union Applying for a new apartment or condominium

  5. Unlike hard inquiries, soft inquiries do not affect your credit score even in the event that they appear on it, and you will not have to remove inquiries from your credit report provided they are soft. Typically, when a person needs to remove inquiries with the help of Inquiry Busters, it is because they could potentially affect their overall credit score i.e. are “hard”.

  6. How can you find out which credit checks are soft inquiries? By law, hard inquiries require your consent and soft inquiries don’t, but that consent can be a grey area- for example, if you want to check and see if you can add another cellular device to your existing plan, and are talking to an agent over the phone, your consent for the credit check will probably be implied. So, if you are purchasing a new product or service, or are dealing with any transaction that could potentially result in hard or soft inquiries, ask if a check is about to take place and if it will affect your credit. It is always better to be sure than risk having to remove inquiries at a later time.

  7. In reality, soft inquiries are safe inquiries and will not affect your credit, so there is no need to flinch every time someone says they're going to take a look- at least, as long as you know exactly why they plan on checking your credit, and if it will be recorded.

  8. Thanks For Stay With Us

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