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Soft credit pull
Also called soft inquiry, soft pull.
A credit file review that does not affect the score and is not visible to other lenders, used for pre-qualification before a formal application.
Drafted with AI assistance. Not yet independently checked. Nobody has verified the claims on this page against a source, so treat the figures and legal points as a starting point rather than as settled, and confirm anything you are about to act on. How we check things.
What it means
The difference from a hard inquiry is the purpose and the visibility. A soft pull is recorded on the consumer's own copy of the report but is not counted in scoring models and not shown to other lenders reviewing the file. A hard inquiry is triggered by an application for credit, appears to other lenders, and can shade the score modestly for a period.
In practice the sequence in this market is: soft pull at pre-qualification to generate an indicative offer, hard pull once the merchant accepts and the file moves to contract. Some funders, particularly on smaller advances, never pull a consumer report at all and underwrite on bank statements and business bureau data.
The legal frame is permissible purpose under federal credit reporting law. Pre-qualification with the consumer's written instruction is a recognised basis for a soft pull; an application for credit supports a hard one.
Where this one catches people
"No credit check" and "soft pull only, guaranteed" are marketing lines, not descriptions of the process. The real exposure is not the first pull but the broker's submission pattern: a file shotgunned to a dozen funders can generate a run of hard inquiries in a week, each from a company the owner has never spoken to. Ask the broker how many funders the file goes to and whether each will pull.
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Soft credit pull — common questions
What does soft credit pull mean?
A credit file review that does not affect the score and is not visible to other lenders, used for pre-qualification before a formal application.
Where does soft credit pull catch people out?
"No credit check" and "soft pull only, guaranteed" are marketing lines, not descriptions of the process. The real exposure is not the first pull but the broker's submission pattern: a file shotgunned to a dozen funders can generate a run of hard inquiries in a week, each from a company the owner has never spoken to. Ask the broker how many funders the file goes to and whether each will pull.
Is soft credit pull the same as an interest rate?
Soft credit pull is defined above; if you are comparing it against a rate, check whether the two measures share a time dimension before you put them side by side.
Which products does soft credit pull apply to?
It is not specific to one product — it appears across the market.
Is there a worked example of soft credit pull?
Not on this entry. Where a term is arithmetic, the arithmetic is shown; this one is not primarily a calculation.
What else should I read alongside soft credit pull?
FICO score, Hard credit pull, Pre-approval, Submission.
Has this definition been checked?
Not yet. This entry is drafted and live, and the notice at the top says so. Confirm anything you are about to act on.
Is this legal advice?
No. It is a definition. What a clause does in your contract, in your state, is a question for a lawyer licensed where you are.
Can I suggest a term?
Yes — [email protected]. The glossary grows from what people are actually shown in contracts.