Soft credit checks
A soft inquiry may occur when you review your own credit, receive a prescreened offer, or use a lender’s prequalification process. Soft inquiries generally are not considered in credit-scoring calculations.
Hard credit checks
A hard inquiry commonly occurs after you formally apply for credit and authorize a lender to review your report. It may affect a score, although the impact varies by profile and scoring model.
Before submitting: Look for clear language explaining whether the step is prequalification with a soft check or a full application that may result in a hard inquiry.
Rate shopping
Some scoring models may group certain inquiries for the same type of loan made within a shopping window. The exact treatment and timing vary, so avoid assuming every inquiry will be combined.
Questions worth asking
- Is this a soft or hard credit inquiry?
- Am I only checking potential rates, or submitting a full application?
- Will my information be shared with multiple providers?
- Can I review estimated terms before authorizing a hard check?
What Monetrivo currently does
Monetrivo’s educational option finder and calculators do not request a Social Security number, access a credit report, or perform a credit inquiry.
Explore without a credit check
Use the educational finder to organize possible financing categories before applying anywhere.
Open the option finder →