5/11/2009

Thats correct Hjm331.

Rockin35

I've been told that soft inquiries don't show up on your reports as hard inquiries do. I don't know what lenders see but apparently they see all the information they need to give you a CLI or AA.

Great Meya,

I'm glad I was able to shed a "little bit" of light of this question.

Rockin35

Thanks Rockin! Good info! I know when I get an updated cr from one of the three Cb's, it explains on there that these (soft pulls) are only seen by you (the consumer), which we all know is not a bad thing. But, when I was denied a cli from The avenue sometime last year and, I asked her why did I not qualify for the increase because my report was better than before, and i had only one co. She replied, "We only look at scores!" So her response satisfies what you just said when you mention some creditors do soft pulls differently.

Hello Interjack,

Yes you are correct in your assumption. I have worked in the Credit Industry 6 years ago, when I ran credit applications (Hard Inquiries) I could bring up the entire credit file from Equifax including what that person's FICO score was at that particular time, we used Dunn & Bradstreet for the Business Credit applications which were very different.

Anyways when I worked in a part time retail store the (Soft Inquiries) will NOT bring up your entire credit file including 7 years past/present/future as a normal Hard Inquiry would. We could only see if any liens, charge offs, & current FICO was at the time, it was not a complete history but similar to the DMV inquiries when Auto Insurance companies want to give you insurance.

But let me also state that the "Periodic Reviews" that your current creditors pull on your file, are not posted to your credit file as a Hard Inquiry but they still pull a somewhat comprehensive pull on your credit from up to 1 year with everything that is current at the time.

Did this answer your question? I know this may be confusing but each company's soft pulls may run differently, I"m only speaking from my previous employer and what I was able to view on soft and hard inquiries. Rockin35

Here is transunion's definition of the differences....

What are inquiries
An inquiry is a record of someone checking your credit information. Inquiries come in two distinct categories

I understand that other lenders can see hard inquiries. I also understand that they impact your credit score. I guess the main question I have is do lenders receive different information in a soft inquiry than they do in a hard inquiry?

Here is transunion's definition of the differences....

What are inquiries
An inquiry is a record of someone checking your credit information. Inquiries come in two distinct categories: "hard inquiries" that occur when a business views your credit report for the purpose of an application and "soft inquiries" that occur when your credit is checked for other reasons. If you apply for a new credit card, a hard inquiry record will appear on your credit report and may impact your credit. When you check your own credit report, or when it is checked for a pre-approved marketing purpose, it is considered a soft inquiry and will not harm your credit score.

Does anyone from the financial sector on here know what a lender sees when they pull a soft inquiry? What is the difference between that information and the information they see when they do a hard inquiry? I know what the difference is to your credit score!