Quote: (05-02-2016 02:20 PM)John Michael Kane Wrote:
Each bank must due its own underwriting to see if you qualify for credit, meaning that each time you apply, your credit will have a hard inquiry show up on your report. This is even true if you are pre-screened for an offer of credit, like the ones you receive in the mail. Pre-screened means that you're very likely to be approved, but you still aren't getting approved without an inquiry.
I have to disagree slightly with JMK here with a caveat. Depending on the institution offering the credit product, they may or may not hard pull your credit. Usually one would only get these offers if one is already an existing client of said institutions, in which case, they have already soft pulled your credit and approved you from the underwriting standpoint. I've only experienced hard pulls when applying with a new institution, never with an existing relationship. YMMV.