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6 Important Benefits of a Soft Credit Check

Credit check. Credit pull. Soft pull. Hard pull. What does this financial terminology mean and are there real benefits to a soft credit check?

The best place for us to start this conversation is by defining what a soft credit check actually is.

A soft credit check is an important tool that allows you to monitor or improve your credit score. Unlike a hard credit check, which can sometimes impact your score in a negative way, a soft credit check has zero effect on your credit rating.

In this article, we will cover the top six benefits of a soft credit check and how Daylight can support you on your financial journey to parenthood.

What are the benefits of a soft credit check?

1. Soft Credit Pulls Have Zero Impact on Your Score

A soft credit check is a great way to check your credit score without affecting your credit rating. A credit report is a record of a borrower’s financial behavior and one of the main factors that lenders consider loan applications. A credit report contains:

  • Personal information
  • Credit history
  • Credit inquiries
  • Public records

HOT TIP: You can check your score as often as you like without worrying about any negative consequences.

2. Soft Credit Pulls are Free - Woohoo!

Another great benefit of a soft credit check is that it is completely free. You can check your credit score as often as you like without incurring any charges.

This is a great way to stay on top of your credit score without having to pay for expensive credit monitoring services.

3. Soft Credit Checks are Faster than the Speed of Light

Okay, that’s not true. But you can definitely check your credit score in just a few seconds with a soft credit check. All you need to do is answer a few questions and you will receive your score right away. These questions include:

  • Name
  • SSN
  • Phone #
  • Home Address

If you need any help with checking your credit score, you can always reach out to our team at Daylight. We’re more than happy to walk you through the process.

4. Your Data is Secure in a Soft Credit Pull

One of the top benefits of a soft credit pull is that you can view the same information as a hard pull but without the negative impact of a hard credit check AND your data is fully secure. Here’s what a soft credit check will show you:

  • Lines of credit
  • Lines of loans
  • Payment history
  • Credit score
  • Accounts sent to a collection agency
  • Any tax liens

It’s important to note that reputable soft credit check companies never sell your data to third-party advertisers or other organizations. You can use a soft credit check service with confidence, knowing that your personal information is safe. See what options you have by starting here.

5. Soft Credit Checks Offer Free Hints and Tips

Since soft credit pulls are only visible to you, they offer a range of valuable information outside of identifying your credit score and payment history. You can use a soft credit check to browse for loans and read some of the free hints and tips on how to improve your credit score.

We recommend using our soft credit check tool to get personalized advice on how to improve your creditworthiness and get better credit options. By following these tips, you can work towards improving your credit score over time.

6. Soft Credit Checks Recommend Personalized Offers

Soft credit check services can also provide personalized offers based on your credit score. These offers are tailored to your creditworthiness and are more likely to be approved if you apply. If you are looking to apply for credit, doing a soft credit pull can increase your chances of being approved.

The Benefits of a Soft Credit Pull with Daylight

As you can see, there are quite a few benefits of doing a soft credit check—the most important being that it’s completely free and will have zero impact on your score. This is one of the best and quickest ways to monitor or improve your credit.

If you’re looking to secure a loan to start a family, we’ve got your back. Check your credit score on our website today.

Disclaimer: The content provided on this blog post is not intended to provide legal, investment or financial advice and is not tailored to anyone’s specific circumstances. For any specific advice about your current circumstances, you may want to consult with a qualified professional. Any information or statistical data provided by Daylight Grow is used for informational purposes only. While Daylight Grow finds this information to be accurate, we do not endorse or guarantee any third-party content.