The Difference Between Soft and Hard Enquiries on your Credit Report

Article Highlights:

  • Checking your own credit file does not impact your credit score.
  • Applying for credit through multiple providers may impact your score negatively.

Soft Enquiry:

Some consumers are afraid to check their credit reports because they are worried that it may affect their credit scores. Applying for your own credit report does result in an additional enquiry on your report, however it does not impact your credit score- nor does it affect your ability to obtain finance, this is known as a Soft Enquiry. We would recommend checking your credit report every quarter, just to make sure you are on top of your finances and there aren’t any outstanding accounts you may have let slip passed your mind. 

Hard Enquiry:

Every time you apply for credit through a credit provider which may include, Telecommunication providers, Utility providers or Financial institutions they may obtain a credit report to assess whether your credit report is clear of any defaults and/or negative repayment history. Credit providers may be inclined to decline you for credit if you have a relatively high number of enquiries made within a short period of time. Each time a credit provider conducts a credit search on your name, it will be considered as a Hard Enquiry.

TAT Solutions provides free credit repair assessments for everyone, we may be able to assist with default removal, credit enquiry removals, court judgment removals and debt negotiations. Call us today for a no-obligation consultation over the phone.

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