July 27, 2020 Hard vs. Soft Credit Check: What's the Difference, and What Do They Mean for Your Credit Score?

Summary: by Mallika Mitra A ding on your credit score sounds bad. And if you’re applying for a loan or line of credit and a lender reviews your credit report, you could definitely see that hit to your credit score. But experts say not to worry. “One single inquiry is not going to send your credit score to the basement,” says Bruce McClary, vice president of communications for the National Foundation for Credit Counseling.