Bears Lending
Soft inquiry
A soft inquiry reads your report without recording a credit application. It's what you see when you check your own score, what employers and insurers use, and what a lender uses to pre-qualify you. Soft inquiries are visible only to you, never to other lenders, and have no effect on your score.
Hard inquiry
A hard inquiry is recorded when you apply for credit and a lender pulls your file to make a decision. Other lenders can see it for two years, and it affects your score for about one. A single hard inquiry typically costs a few points — usually under five. Several in a short window, for different kinds of credit, cost more.
| Soft inquiry | Hard inquiry | |
|---|---|---|
| Recorded as an application | No | Yes |
| Visible to other lenders | No | Yes, 2 years |
| Score impact | None | Small, ~1 year |
| Needs your permission | Not always | Yes |
Which Bears Lending loans use which
| Loan | Credit check |
|---|---|
| Payday, title, pawn, check cashing | None at all |
| Installment, bad credit, line of credit | Soft only |
| Personal, debt consolidation | Soft to see the offer; one hard inquiry only if you accept |
You should be able to see your rate before you decide. A soft pre-qualification gives you a firm APR and payment with nothing on your report. If you don't like the number, nothing happened.
Rate shopping
FICO treats multiple hard inquiries for the same type of loan within a 14–45 day window as one. That protects you when shopping mortgages or auto loans. It doesn't apply across different loan types, so a personal loan pull and a credit card pull in the same week count separately.
Questions
Does checking my own score hurt it?
No. That's a soft inquiry.
How long does a hard inquiry stay?
Two years on the report; about one year affecting the score.
Can I remove a hard inquiry?
Only if it was unauthorized. Dispute it with the bureau.