Retailers use soft pulls for pre-qualification on product pages, kiosks and text links, where the provider supports it. A lender may run a hard inquiry if the shopper accepts an offer. LendPro is not a lender; lenders make all credit decisions and set all terms.
Key takeaways
- A soft pull is a credit check that lets a lender review a shopper's credit file without affecting the shopper's credit score.
- Where the provider supports pre-qualification, it uses a soft pull, and a lender may run a hard inquiry if the shopper accepts an offer and completes that provider's full application.
- Some lenders do not offer a pre-qualification pathway, so their process may start with the full application and its credit check.
- A pre-qualified amount is subject to the lender's final approval and is not the same as being approved.
What is a soft pull in plain English?
There are two kinds of credit checks. A soft pull (also called a soft inquiry) is a look at the credit file that only the consumer sees on their own report, and it does not change the score. A hard inquiry happens when the consumer applies for or accepts credit; other lenders can see it, and it can affect the score.
Source: CFPB, What's a credit inquiry?
Soft pull vs. hard pull: what is the difference?
| Soft pull | Hard inquiry | |
|---|---|---|
| When it happens | Pre-qualification, checking offers | Applying for or accepting credit |
| Effect on credit score | None | Can affect the score |
| Who can see it | Only the consumer | The consumer and other lenders |
| At the store | Product page, kiosk, QR code | After the shopper selects an offer and starts the provider's full application |
| Also called | Soft inquiry, soft credit check | Hard pull, hard credit check |
In retail financing the order is predictable. Where the provider supports pre-qualification, the soft pull comes first. A hard inquiry, if the lender runs one, comes after the shopper selects an offer and completes that provider's full application. Some lenders do not offer a pre-qualification pathway, so their process may start with the full application and its credit check.
What does it look like at the store?
A shopper is looking at a $1,600 mattress set.
- The associate points to the kiosk. "Checking won't affect your credit score for lenders that offer pre-qualification."
- The shopper chooses See If You Pre-Qualify and enters basic details. Lenders that support pre-qualification run soft pulls and return pre-qualified offers.
- The shopper selects an offer. The provider shows a confirmation with the available limit, and the shopper completes that provider's full application. The lender may now run a hard inquiry.
- The store finalizes the sale. The associate creates the invoice in LendPro, the shopper e-signs in store or by text or email link, and settlement is processed when the customer receives the goods or service.
Illustrative example. Dollar amounts are for explanation only; actual approvals, amounts and terms are set by each lender.
We will walk through your lenders, tiers and entry points in a live demo.
How does LendPro use soft pulls?
LendPro offers soft-pull pre-qualification where the provider supports it, on product pages, tablets, QR codes and text links. A lender may run a hard inquiry if the shopper accepts an offer. Some lenders do not offer a pre-qualification pathway. Read more about embedded pre-qualification.
What should associates say about a soft pull?
- Say it accurately. "Won't affect your score" applies to pre-qualification with lenders that offer it, not to accepting an offer.
- Pre-qualified is not approved. A pre-qualified amount is subject to the lender's final approval; see embedded pre-qualification.
- Consent still matters. The shopper agrees to the credit check before the soft pull runs, even though it does not affect the score.
- Offers can expire. Pre-qualified offers are good for a limited time set by the lender; check the date before the shopper returns.
Frequently asked questions
Does a soft pull affect my credit score?
No. According to the CFPB, soft inquiries do not affect credit scores and are visible only to the consumer.
What is the difference between a soft pull and a hard pull?
A soft pull does not affect the score and only the consumer sees it. A hard pull, or hard inquiry, happens when the consumer applies for or accepts credit; other lenders can see it and it can affect the score.
When does a hard inquiry happen in retail financing?
Usually after the shopper selects an offer and completes the provider's full application. A lender may run a hard inquiry if the shopper accepts an offer.
Who runs the credit check, the store or the lender?
The lender. Each lender runs its own soft pull or hard inquiry under its own criteria; the store never decides credit.
Can a shopper pre-qualify more than once?
Yes. Where the provider supports pre-qualification, it uses a soft pull that does not affect the credit score, so a shopper can check again, for example after a larger cart or a few months of on-time payments.