hard vs soft inquiries

Discussion in 'Credit Talk' started by New, Apr 16, 2001.

  1. New

    New Guest

    please explain the difference to me between a hard vs a soft
    inquiry. For example when I applied for cc's and the
    institution checked my credit report was that hard or soft,
    and whats the difference?
  2. Marie

    Marie Well-Known Member

    apply for credit, insurance, etc = hard
    Account review, promo = soft

    there are different notations on the inquiries

    AR is account review.
    PRM is promotional. they're trying to review you to see if they should send you an offer of credit

    companies checking your credit only see hard inquiries (you see them all). The CRAs are supposed to send you info w/your report explaining all the codes

    Only the hard ones "count" against your credit scores. That's why it's important to make sure they'll all yours and that they're coded properly.

    Now sometimes account reviews (that you request, normally) for a large increase will generate a hard inquiry. Ask them before they do it.

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