Difference between soft and hard search for a loan

boo2410

Hi all,

Probably silly question time but I'm curious as to what prospective lenders see on a soft search, how different is the data to a hard search?

I know soft searches leave no visible footprint. I've tried googling but can't find a definitive answer - maybe there isn't one.....

Thanks in advance.

AJG384521

They check the same data on a soft search that they do on an application. Doesn't leave a visible search on your file or affect your credit rating.

boo2410

Thanks for that AJG, I had an inkling that might be the case but couldn't find anything to confirm it.

I'm thinking of getting a car loan and was curious if you could get turned down after a soft search, although these days I suppose anything is possible!!!

Thanks again for your response, I appreciate it.

Sayva

AJG384521 wrote: »

They check the same data on a soft search that they do on an application. Doesn't leave a visible search on your file or affect your credit rating.

I thought an application did leave a mark on your credit report? In't that why applying for too many credit cards in a short space of time can damage your credit rating?

20aday

Sayva wrote: »

I thought an application did leave a mark on your credit report? In't that why applying for too many credit cards in a short space of time can damage your credit rating?

That's the case when a full application is made, yes.

However a "soft search" is only visible to you, and you alone.