What is the meaning of hard pull

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What is the Meaning of a Hard Pull?

A hard pull is a type of credit inquiry that results in a more thorough review of a person’s credit history. It is also known as a hard credit check or hard inquiry. A hard pull is typically done when a lender is considering you for a loan or line of credit.

When a lender performs a hard pull, they are looking at your credit report to get a better understanding of your financial history. This includes information such as your payment history, the amount of debt you have, and any derogatory marks that may appear on your credit report.

The purpose of a hard pull is to verify the accuracy of the information that you have provided and to assess your creditworthiness. It also helps the lender determine whether or not you are a good risk for lending money to.

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The hard pull can have an impact on your credit score. It is a factor that is taken into consideration when calculating your credit score, so it is important to be aware of this when you are applying for credit.

The good news is that hard pulls are only visible to you and the lender. They are not visible to other lenders, so they will not affect your ability to get credit from other lenders.

Overall, a hard pull is an important part of the credit process. It helps lenders make informed decisions about whether or not to lend money to you. It is important to be aware of the impact that a hard pull can have on your credit score and to make sure that you are providing accurate information when applying for credit.

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