"Will this hurt my credit?" is the first thing most people ask before checking a loan rate. The short answer: looking is safe. Applying is the step that shows up. Here's the difference between the two kinds of credit inquiries.
What is a soft inquiry (soft pull)?
A soft inquiry is a look at your credit that doesn't affect your score. It happens when you check your own rate, when a lender pre-qualifies you, or when a company sends you a pre-approved offer. Only you can see soft inquiries on your report — they're invisible to other lenders and carry no penalty.
What is a hard inquiry (hard pull)?
A hard inquiry happens when you formally apply for credit and a lender pulls your full report to make a decision. A single hard inquiry usually lowers your score by a few points and fades within a year, dropping off your report after about two years.
When does each one happen?
- Soft pull: checking your rate on InstantLoanBay and seeing which lenders match you. No score impact.
- Hard pull: only after you choose an offer and submit a full application with that lender.
You stay in control: nothing becomes a hard inquiry until you decide to move forward.
Smart way to shop
Check your rate first with a soft pull, compare the real offers side by side, and then apply once — with the lender you actually want. If you are rate-shopping for the same type of loan, scoring models often count multiple hard inquiries within a short window (typically 14–45 days) as a single event, so focused shopping does less damage than scattered applications over months.