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What Is a Hard Inquiry?
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What is a hard Inquiry?
A hard credit check could take some points off your score, but an informal inquiry won't impact it.
By Our Nerdwallet contributors are specialists in their fields and have diverse backgrounds in finance, journalism, and consulting. Our editorial standards are the strictest editorial standards to ensure our readers are provided with the information necessary to make financial decisions with confidence. Find out more about our
Updated Feb 13, 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. Previously, she spent 18 years at The Oregonian in Portland in roles including copy desk chief and team director of design and editing. Prior experience includes copy editing and news for many Southern California newspapers, including the Los Angeles Times. She graduated with a bachelor's in mass communication and journalism in 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 determine the viability of your loan or credit card application. It may shave the smallest amount of credits off your credit report, however, it's only temporary.
If you conduct a credit check yourself, it's a "soft" credit inquiry or soft credit check. It doesn't impact your credit score.
The Fair Credit Reporting Act places restrictions on when and why your credit report can be checked.
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What is a hard inquiry?
A hard inquiry, also referred to a hard pull or a credit check, is a process that requires your consent. It occurs when you apply for credit, like a mortgage, credit card, auto loan and credit card, student loan as well as a personal loan. This doesn't occur in the case of trying to get pre-qualification in order to decide whether or not you want to apply.
This inquiry will be included on your credit report, meaning anyone who checks your credit report will be able to see it. The inquiry is on your credit report for , however it ceases to affect your credit score within less than a year.
Nerdy Tip
When you apply for a credit product that involves a hard inquiry about your credit report, you may get an inundation of marketing communications from lenders. This is because credit bureaus offer marketing lists in response to hard inquiries. However, you are able to opt out indefinitely or for a period of five years. Visit , a service of the credit agencies Equifax, Experian, TransUnion and Innovis or call 888-567 8688. The bureaus claim that your request will take effect within five days. Be aware that you could still receive marketing offers from lenders that use other sources. The decision to opt out of receiving marketing offers does not impact your credit score nor your ability to apply for credits or for insurance.
What does an inquiry that is not a formal one impact your credit score?
A single hard inquiry can reduce five points from your FICO score. However, with the most-used FICO model every inquiry within a 45-day time frame are considered as one inquiry when you are " ," such as for mortgage, student and auto loans. The older FICO models as well as VantageScore which is FICO's rival, are also able to group rates for shopping, but within the 14-day timeframe. A VantageScore spokesman said a hard inquiry can shave up to 10 points off a VantageScore.
Most lenders or card issuers will get a credit history from one of the three major credit bureaus- Equifax, Experian or TransUnion. This means that the report will appear only on one of your credit reports. However, this is not the case with a mortgage, when all three credit bureaus are usually examined.
It is wise to limit hard inquiries. When you are applying for credit, you should be as certain as you can that you're likely to get accepted so that you don't risk losing score points and not get the approval you seek. Do not apply for credit on the spur of the moment. Think about whether the discount or bonus you're looking forward to receiving is worth the potential ding in your score. If you're already in the process , a few points may not be a big deal. If, however, you're of low credit scores beware.
What is a soft inquiry?
Soft inquiries, also known as soft pulls, or soft credit checks, can occur without your knowledge. If you've received a credit card deal through the post, it's likely that the company offering the credit card performed a soft credit assessment to determine if you likely be eligible. This is also true for different types of loan offers, or when the mortgage broker or lender performs a pre-qualification or preapproval.
Employers can also conduct a background check on you, including a look at an amended credit report. While they need your consent to review you credit file, the information is still not an investigation that is considered to be hard because it's not a way of deciding whether or not to grant credit to you.
It is, in essence, an unstructured question, meaning it will not affect your score. You can get your on demand from a personal finance website such as NerdWallet. Or, you can to receive your credit reports from three major credit bureaus. The reports are available for free and until 2023, you're allowed to receive one report from each bureau per week.
When you look at your own credit reports, you'll see soft inquiries , but they don't appear in the reports that creditors look at.
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Soft or hard inquiry?
Some questions can be one of two types: hard or soft. If you lease a car, apply to rent an apartment, sign up for cable TV or internet service or open an account with a financial institution or a person wants to confirm the identity of you, then you may encounter a hard inquiry or a soft inquiry. The only way to be sure beforehand is to inquire with the prospective tenant or the service company.
Finally, if you believe that a hard inquiry appears in your credit report, but shouldn't be, you can just as you could find other incorrect information. It's worth looking into as it could indicate fraud or .
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