Understanding Hard and Soft Credit Inquiries

Not all credit checks are created equal. When your credit report is reviewed, it’s categorized as either a soft inquiry or a hard inquiry, and knowing the difference can help you protect your credit score.

A soft inquiry occurs when your credit is checked for informational purposes. These types of inquiries do not affect your credit score and are common in everyday situations. Examples include when a credit card company sends you a pre-approved offer, when you check your own credit score, or when a landlord reviews your credit as part of a rental application.

A hard inquiry, on the other hand, happens when you apply for new credit. This includes applying for a loan, credit card, or mortgage. Because hard inquiries indicate you’re seeking new credit, they can temporarily impact your credit score.

What to Know About Hard Inquiries

Hard inquiries can remain on your credit report for up to two years and may cause a small, short-term dip in your credit score. While one hard pull typically isn’t a big concern, multiple inquiries in a short period of time can have a larger impact.

Keep an Eye on Your Credit

Both hard and soft inquiries appear on your credit report, which is why regular monitoring is so important. Reviewing your credit helps you understand who is checking your credit and ensures all information is accurate. It also plays a key role in catching potential identity theft early.

Monitor Your Credit with Solidarity and SavvyMoney

Solidarity Community Federal Credit Union makes it easy to stay informed with SavvyMoney credit monitoring. With SavvyMoney, you can track your credit score, view inquiries from all three credit bureaus, and receive alerts if something changes on your report. Regular monitoring helps you spot errors, protect your identity, and make informed financial decisions—all at no cost to you.

Checking your credit regularly isn’t just smart—it’s one of the easiest ways to keep your financial health on track and Solidarity offers it free. 

Are you ready to reach your financial goals? Sign in to your online account to enroll or check your score. 

Don’t let your credit report hide any surprises. Take control of your financial future by checking it regularly. Avoid the pitfalls of errors dragging down your score or leading to higher interest rates and loan payments. 

Checking your credit through SavvyMoney is a soft inquiry, meaning it won’t affect your credit score—and while the score provides a helpful snapshot of your credit health, it may not always reflect your exact score used by lenders.

Enroll and/or check your score in Solidarity’s Digital Banking.