Talking about credit may seem as dull as reading the terms and conditions of an app. But if you have big goals—like preparing for the future, buying a new car, or taking the first step toward owning a home—understanding your credit and how it’s checked is crucial to achieving them.
We’ll explain, in simple terms, the difference between a soft and hard inquiry, and how to manage your credit without unnecessary stress.
It’s an inquiry that doesn’t affect your score; it’s like window shopping without making a purchase. Similarly, your score isn’t impacted by checking your credit report without applying for credit.
Other examples of situations where a soft inquiry occurs and does not affect your credit score are:
This can impact your score because it involves a formal credit application. It occurs when you apply for:
Before signing or authorizing any inquiry, ask whether it’s a soft or hard pull. You can often prequalify (soft) before formally applying (hard).
Here are some helpful tips before giving in to temptation:
Platea x Popular Tip: Having many hard inquiries in a short period can seem suspicious to lenders. Pay attention to timing – avoid making multiple inquiries with different lenders and for various products during the same timeframe.
Discover Popular’s new tool, where you can view your history, monitor your score, and simulate different scenarios.
We have the perfect solution! Popular offers you a card and a loan that are so personalized, even your credit score won’t know when you look for them online.
See if you can get approved without impacting your credit1.
What requirements do I need to meet?
What requirements do I need to meet?
Be a resident of Puerto Rico and at least 18 years old
Have a Social Security number
Provide details about your income
Your credit history isn’t just a number. It’s your financial calling card. Understanding how it works and when to make an inquiry gives you the control you need to manage your financial future.
With a bit of strategy, you can continue progressing toward your goals. Explore additional tools, guides, and resources designed for you at Future Me.
Wishing you success!
Learn more about the tools and services available to manage your accounts and help you achieve your goals.
Only available through the digital platform. The offers displayed on these platforms are valid for 10 days. When you enter your information to find out if you are eligible for a credit or unsecured loan, a soft inquiry will be generated that will not impact your score. By accepting the offer, you authorize Banco Popular to conduct a hard credit report inquiry. This inquiry will appear on your credit report and may impact your credit score. Applications submitted at branches or by calling 1-888-724-3653 will also initiate a credit report inquiry.
Product offered by Banco Popular de Puerto Rico. Member FDIC. Subject to credit approval and adherence to the parameters set by Banco Popular. To receive your funds via check or to renew your current loan, call 1.888.724.3653 (toll-free). The Annual Percentage Rate (APR) depends on your credit history and varies based on the term you choose. If the loan is for debt consolidation, the customer is responsible for paying it off. Certain conditions and restrictions apply.
Cards issued by Banco Popular de Puerto Rico. Member FDIC. Subject to credit approval. For terms and costs, visit popular.com/en/cards/ or call 1.888.724.3653.
The suggestions and recommendations in these articles are provided solely as financial advice. Neither Popular nor any of its affiliates, subsidiaries, or related companies are responsible for any direct, indirect, or special damages resulting from the information in this article. If you need advice related to this article, you should consult a competent professional of your choice.
