Understanding credit can make life far easier for many, but concepts like hard pulls versus soft pulls can be where some start misunderstanding. What do soft pull credit and hard pull credit mean? How does it impact one’s credit score? More importantly, is one better than the other? Jennifer Beeston fills viewers in on the difference in her video on hard credit pulls versus soft credit pulls.
What Is a Hard Credit Pull
Hard pulls get all of the information about one’s credit score an individual or organization would need to know in order to, say, purchase a home.
It provides all the scores from the three major credit bureaus and other essential information from credit reports.
What Is a Soft Credit Pull?
A soft pull is a way to assess one’s credit score that doesn’t affect one’s score like a hard inquiry. Additionally, soft pulls only blend scores to come up with an overview of what one’s score might be, not digging too deeply in a way that would otherwise affect one’s credit.
Which Is Better?
A soft pull is best for those curious about their credit and not looking to secure a loan or open a revolving credit account. A hard pull is better for those who need to know more about their credit and how it will impact their ability to access certain accounts or hit various life milestones.
In conclusion, hard credit pulls and soft credit pulls each have their uses. As for which one is better, that’s determined by the specific information required from the credit report for assessment.
