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What Is a Hard Inquiry?
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(image: http://1.bp.blogspot.com/_Cd9T9fs-MHA/SVreuMCcKjI/AAAAAAAAAQ4/7i5T5sjd-T0/S220/Hogs+Blog+Logo+xx.jpg)What is a hard Inquiry?
A hard credit inquiry can take some points off your score temporarily, but a soft inquiry doesn't affect it.
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Updated on 13 February 2023.
Editor: Kathy Hinson Lead Assigning Editor Personal finance, credit scoring, managing money and debt Kathy Hinson leads the Core Personal Finance team at NerdWallet. Prior to joining NerdWallet, she worked for 18 years with The Oregonian in Portland in roles including copy desk chief and team leader for design and editing. Previous experience included copy editing and news for various Southern California newspapers, including the Los Angeles Times. She earned a bachelor's degree in mass communications and journalism from Iowa's University of Iowa.
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An inquiry that is hard to answer is for a review of your credit, typically to decide on the validity of your loan or credit card application. It may shave some marks off of your score but it's temporary.
If you conduct a credit check yourself, it's a soft credit inquiry, also known as a soft credit check, and it doesn't alter your score.
The Fair Credit Reporting Act places limitations on the time and place your credit report may be inspected.
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What is a hard inquiry?
An inquiry that is also referred to a hard pull or a credit check, is a process that requires your permission. It happens when you apply for credit, such as a mortgage, credit card, auto loan and loan for students, loan and personal loan. It doesn't happen when you're trying to get pre-qualification in order to decide whether to apply.
This inquiry becomes part of your credit report, which means anyone who looks up your credit report will be able to see it. A hard inquiry will remain visible on your report some time, however, it will no longer affect your credit score within less than one year.
Nerdy Tip
If you are applying for a credit card that involves a hard inquiry regarding your credit score, you may get an influx of marketing messages from lenders. The reason for this is since credit bureaus are the ones who sell marketing lists that are triggered by hard inquiries. However, you are able to opt out, either permanently or for five years. Visit , a service offered by credit bureaus Equifax, Experian, TransUnion and Innovis or call 888-567 8688. The bureaus claim that your request will be effective in five business days. Note that you may still receive marketing offers from lenders that use other sources. Opting out does not alter your credit score or the ability to get credits or for insurance.
What does an inquiry that is not a formal one affect your score on credit?
A single hard inquiry can cut five points from your FICO score. But, for the most popular FICO model the inquiries that are made within a 45-day time frame are considered as one inquiry when you are " ," such as for student, mortgage and auto loans. The older FICO models and VantageScore which is FICO's rival, also group inquiries for rate shopping, but within 14 days. A VantageScore spokesperson told me that a difficult inquiry could cut up to 10 points off a VantageScore.
Most lenders or card issuers will pull a credit report from just any of three credit bureausthe three major credit bureaus - Equifax, Experian or TransUnion. This means that the report will be reported on only any of the reports. This is not the case for a mortgage, when the three credit bureaus are examined.
It is advisable to limit inquiries that are hard to make. Before you make an application for credit, you should ensure as much as you can that you are likely to be approved to ensure that you don't lose score points without gaining the approval you want. Do not apply for credit on the spur of the moment. Be sure to consider whether a discount or bonus that you are looking forward to receiving is worth the risk on your credit. If you have one or two points, it may not be too significant. But, if you're in low credit scores consider reconsidering.
What is an inquiry that is soft?
Soft inquiries, also referred to as soft pulls or soft credit checks, can occur without you knowing about them. If you've received any credit card deal via mail, it's likely that the credit card company conducted a soft credit test to see if you would likely be eligible. This is also true for different types of loan offers or when a mortgage broker or lender offers a pre-qualification, or preapproval.
Employers also may do an inquiry into your background and may look up a modified credit report. If they have your permission to review you credit file, the information is not considered an investigation that is considered to be hard because it's not for the purpose of deciding whether or not to grant your credit.
It is, in essence, a soft inquiry, so it won't impact your score. You can get your upon request from a personal finance website like NerdWallet. You can also receive your credit reports from the three major credit bureaus. The reports are available for free and until 2023, you're eligible to get one report each bureau each week.
When you look at your own credit reports you'll find soft inquiries listed, but these don't appear in the reports that creditors see.
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Hard credit inquiry or soft inquiry?
Some questions can be difficult or soft. If you lease a car or want to apply for an apartment, enroll in cable TV or internet service or open an account with an institution of finance, or someone just needs to verify that you are who they say you are, you could be contacted with an inquiry that is hard or soft inquiry. The only way to know ahead of time is to inquire with the prospective owner or provider.
In the end, if you believe that a hard inquiry appears on your credit report but shouldn't be it is just as you could find other incorrect information. It's certainly worth investigating as it could indicate fraud or .
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