soft inquiry
A credit check that does not affect your credit score, such as checking your own credit or a lender pre-qualifying you for an offer.
Example
“When she checked her own credit score on Credit Karma, it was a soft inquiry that did not affect her rating.”
Memory Tip
SOFT inquiry = SOFT (gentle). Does not leave a mark on your score.
Why It Matters
Soft inquiries are important because they allow you to check your financial health and explore credit offers without damaging your credit score. Understanding the difference between soft and hard inquiries helps you protect your credit rating while still being able to monitor your financial status and compare lending options.
Common Misconception
Many people believe that any time a lender checks their credit, it will lower their score, but soft inquiries have no impact on your credit rating whatsoever. Only hard inquiries from creditors when you apply for loans or credit cards will affect your score, so you can feel confident checking your own credit or receiving pre-qualified offers.
In Practice
When you log into your bank account to view your credit score or receive a pre-approval letter from a credit card company offering you a 0 percent introductory rate, these are soft inquiries that do not affect your score. However, if you then submit an official application for that credit card, the lender performs a hard inquiry that may lower your score by a few points temporarily.
Etymology
Plain English: a SOFT (gentle, non-impactful) INQUIRY into your credit history.
Common Misspellings
Check your credit score free — no impact
Related Terms
More in credit
Other credit terms you should know
See Also
Need financial definitions?
Clear definitions for 2,500+ finance, insurance, and investing terms.