What is a Hard Credit Inquiry or “Hard Credit Pull”?
Hard credit inquiries/pulls occur when you apply for a line of credit or loan and when a lender pulls your credit report to determine if you qualify for said line of credit or loan.
Reminder! Checking your rates and viewing loan offers will only result in a soft credit inquiry – your credit score will not be affected. If you choose to accept an offer and are successfully funded, however, a hard inquiry will occur once funds are delivered to your account.
Common Hard Credit Inquiry triggers may include:
- Applying for a mortgage
- Applying for a credit card
- Applying for a loan (student, business, personal, or auto)