What is a Soft Credit Check?
Generally speaking, a soft credit check, also known as a soft pull, is a credit report that 1) does not hurt the consumer's credit score and 2) does not place an inquiry on their credit report.
Typically, a pre-qualification soft pull is used when a company wants to know whether or not their customer would qualify for a loan if he or she applied. This will help them save time and money on prospects that do not qualify, and also present correct pricing terms and suitable loan products to those customer that do qualify.
When our customers use our soft credit check technology (iSoftpull), our customers instantly receive the consumer's full credit report and FICO score and can use that information to pre-qualify a customer for their goods and services. iSoftpull does not trigger compliance in the event you do not pursue the lead.