What is a Soft Pull?
A soft pull, also known as a soft inquiry, is a type of credit check that does not affect your credit score. It is typically used by lenders, creditors, or financial institutions to review your credit report without your explicit permission.
- Soft pulls are usually done for pre-approved credit offers or account reviews.
- They do not require your consent and are often used to verify your creditworthiness.
Does Soft Pull Affect Credit Score?
No, a soft pull does not affect your credit score. Since it is not a formal credit application, it is not reported to the credit bureaus and does not impact your credit rating.
Soft Pull vs. Hard Pull: What's the Difference?
A hard pull, on the other hand, is a formal credit inquiry that can temporarily lower your credit score. It requires your explicit permission and is typically done when you apply for credit.