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A hard credit check is one that can negatively impact your credit score. These occur when you give a lender permission to check your credit history with the intent to open up a new line of credit. Each hard credit check can cause your score to drop by roughly 5 points and can affect your score for 6 months to a year. The hard credit pull is visible to anyone and will remain on your credit report for up to two years.
Granting a lender permission to pull your scores â and, yes, they do need your permission â constitutes whatâs known as a âhard inquiry.â To be sure, a hard inquiry can ding your credit. But if there is a hit, itâs typically just a handful of points. Hard inquiries on your credit can be a troublesome sign. But the major credit bureaus also see the value of comparison shopping â and thatâs why they cut homebuyers some slack. Letâs take a closer look at how shopping around for a mortgage will affect your credit and the smartest ways to limit the impact.