Soft Credit Search

A soft credit search (or soft inquiry) is a credit check that retrieves enough information to assess eligibility for credit without leaving a visible footprint on the credit file. Soft searches are used for initial eligibility checks, pre-approval decisions, identity verification, and quotation purposes.

Because soft searches do not appear on the credit file when other lenders search it, they have no negative impact on credit scores. Multiple soft searches by different brokers and lenders will not affect your ability to borrow elsewhere.

Spark Finance conducts soft searches as part of its initial eligibility assessment. A hard search is only conducted when a formal application proceeds to underwriting with a specific lender. This protects clients' credit files from the multiple hard searches that would result from approaching numerous lenders directly.

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