Soft vs Hard Credit Pull for a Personal Loan: What Each One Does to Your Score
Checking a personal loan rate and applying for a personal loan are two different events on your credit report. The first is usually a soft inquiry, which does not affect your scores. The second is usually a hard inquiry, which can, though typically by only a few points. Knowing which step triggers which lets you shop without worrying that every rate check is costing you. This guide is part of our credit scores hub.
Key takeaways
- Soft inquiries, including your own credit checks and prescreened offers, "will not affect your credit scores," per the CFPB.
- Hard inquiries usually come after you apply. myFICO says one extra inquiry takes less than five points off most people's FICO Scores.
- Hard inquiries stay on your report for up to two years, but FICO Scores only count them for 12 months.
- Many online lenders let you check your rate with a soft inquiry first. Read each lender's own disclosure to see when the hard pull happens.
What is the difference between a soft and a hard credit pull?
The CFPB defines an inquiry as a request to look at your credit report to decide whether you are eligible for credit, a job, housing, insurance or another purpose. It sorts them into two groups.
| Soft inquiry | Hard inquiry | |
|---|---|---|
| Typical trigger | Checking your own report, prescreened offers, existing lenders reviewing your account, employment screening, many loan rate checks | Lenders reviewing your file after you apply for credit |
| Effect on credit scores | None, per the CFPB | Can lower scores, usually slightly |
| Who can see it | Only you, on your own report | Anyone who pulls your report later |
| How long it shows | Varies by bureau | Up to two years, per myFICO |
| How long FICO counts it | Not counted | 12 months, per myFICO |
The CFPB explains why hard inquiries count: "most credit scoring models look at how recently and how frequently you apply for credit." Soft inquiries, by contrast, "are shown only to you when you review your own credit report; they are not visible when others purchase your credit report."
Does checking a personal loan rate hurt your credit?
Usually not, if the lender uses a soft inquiry for the rate check, and many online lenders do. Upgrade, for example, states on its personal loan page: "checking your rate won't affect your credit score because we only perform a soft inquiry." The step that brings a hard inquiry comes later in the process. Each lender sets its own rules, so look for the line in the lender's disclosures that says when it will pull your credit with a hard inquiry.
The rate you see after a soft check is an estimate based on what you entered and your credit file. It can change after the lender verifies your income and runs the full review. Our guide to prequalifying for a personal loan with a soft pull walks through what to compare.
If you use a matching service that passes your details to several lenders, read its disclosures on which lenders it shares your information with and what kind of inquiry each one runs. Our explainer on how loan matching sites work covers what to look for.
How much does a hard inquiry lower your credit score?
Less than most people fear. myFICO says that "for most people, one additional credit inquiry will take less than five points off their FICO Scores." Inquiries fall under new credit, which is 10% of a FICO Score. The CFPB makes the same point from the other side: "A single credit inquiry from a lender will have little impact on your credit score."
Two cases where it matters more, per myFICO:
- Thin or young files. Inquiries "can have a greater impact if you have few accounts or a short credit history."
- Many inquiries. myFICO reports that people with six inquiries or more on their reports "can be up to eight times more likely to declare bankruptcy than people with no inquiries." Lenders know this, which is why a burst of applications can read as stress.
One application, not five. The cost of a single hard inquiry is small. The cost of spreading applications across several weeks, or applying to lenders that would never approve your profile, is larger. Prequalify first, then send one formal application to the offer that fits.
How long does a hard inquiry stay on your credit report?
myFICO says hard inquiries "stay on the report for up to two years, but they only affect the FICO Scores for a year." After 12 months the inquiry may still be listed, but FICO Scores stop counting it.
If you see a hard inquiry you did not authorize, it may be an error or a sign of identity theft. The CFPB's dispute process applies: write to the credit reporting company and to the company that made the inquiry, explain what is wrong, and keep copies.
Do multiple personal loan applications count as one inquiry?
Not reliably. Credit scoring models group some shopping inquiries, but the CFPB describes the grouping as applying to inquiries "for the same type of loan," and its examples of fully ignored inquiries are student loan, auto loan and mortgage inquiries. Experian, one of the three nationwide credit bureaus, says FICO's grouping "only applies to hard inquiries from student, auto and mortgage loans." The details, and how to shop safely, are in do multiple personal loan inquiries count as one?.
What about the rate you are offered?
Once a lender runs its full review, the offer you get depends on your credit, income and debts, and it can differ from the prequalified estimate. Compare offers by APR, fees and total of payments, and run the numbers in the personal loan payment calculator. For reference, Upgrade's page lists APRs of 7.74% to 35.99% and terms of 24 to 84 months, checked October 1, 2026.
Representative example. For a $5,000 loan at a 10% APR over 36 months, the monthly repayment would be $161.34. Over the term, the total repayment would amount to $5,808.24, with $808.24 in interest. The loan terms range from 6 months to 12 years, with APRs between 5.99% and 35.99%. The exact rate you receive depends on factors like your creditworthiness, loan size, and repayment schedule. Better rates are typically offered to those with excellent credit.
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Who this is for
You want to compare personal loan offers and need to know which steps will show up on your credit report, and how much they might cost in points.
What to do next
- Pull your own reports first. It is a soft inquiry and lets you fix errors before a lender sees them.
- Prequalify with lenders that state they use a soft inquiry for rate checks.
- Pick one offer and submit one formal application.
- If your score needs work first, follow the 60-day plan to raise your credit score before a loan.
Common questions
Does prequalifying for a personal loan hurt my credit?
Not when the lender uses a soft inquiry, which the CFPB says does not affect your credit scores. Check the lender's own disclosure to confirm.
How many points does a hard inquiry take off?
myFICO says one additional inquiry takes less than five points off FICO Scores for most people. The effect can be larger for thin files or when there are many recent inquiries.
How long do hard inquiries affect my score?
FICO Scores count hard inquiries for 12 months. They can stay on the report for up to two years, per myFICO.
Can lenders see my soft inquiries?
No. The CFPB says soft inquiries are shown only to you and are not visible when others buy your credit report.
Is checking my own credit score a hard inquiry?
No. Your own requests for your reports are soft inquiries, per the CFPB, and myFICO says checking your own score will not hurt it.
How we researched this
We read two CFPB consumer pages on inquiries, two myFICO education pages and Upgrade's personal loan page on October 1, 2026, and quoted each one directly.
Related: Do multiple personal loan inquiries count as one? · Adverse action notice explained · What is a charge-off? · Next step: personal loans by credit score
Sources
- Consumer Financial Protection Bureau, "What is a credit inquiry?" accessed October 1, 2026.
- Consumer Financial Protection Bureau, "What kind of credit inquiry has no effect on my credit score?" accessed October 1, 2026.
- Consumer Financial Protection Bureau, "How do I dispute an error on my credit report?" accessed October 1, 2026.
- myFICO, "Does Checking Your Credit Score Lower it?" accessed October 1, 2026.
- myFICO, "How New Credit Impacts Your Credit Score," accessed October 1, 2026.
- Experian, "How Many Hard Inquiries Is Too Many?" accessed October 1, 2026.
- Upgrade, "Personal Loans up to $50,000," accessed October 1, 2026.
Loans Generator is not a loan provider or broker. We connect users with lending partners who may offer loans. Submitting a connection request on our site does not count as a loan application. To receive an actual loan offer, you must apply directly with a lender. We cannot guarantee loan approval or the terms shown on our website. Always review the loan agreement carefully before proceeding. Availability, rates, and terms vary by lender and by state. Rates and lender policies cited on this page were checked on October 1, 2026 and change without notice. This page is general information, not legal or financial advice.