When it comes to obtaining a credit card, many individuals are concerned about the impact on their credit score. A hard inquiry, which occurs when a lender checks your credit report to assess your creditworthiness, can temporarily lower your score. However, there are credit cards that don’t hard inquiry, offering a more favorable option for those looking to build or maintain their credit without the risk of a hard inquiry. In this article, we will explore these cards and their benefits.
Understanding the Difference Between Hard and Soft Inquiries
Before diving into credit cards that don’t hard inquiry, it’s essential to differentiate between hard and soft inquiries. A hard inquiry is performed when you apply for a new credit card, loan, or mortgage. This type of inquiry can have a negative impact on your credit score, as it indicates that you are seeking new credit. On the other hand, a soft inquiry occurs when a lender checks your credit report for pre-approval purposes or when you check your own credit score. Soft inquiries do not affect your credit score.
Credit Cards That Don’t Hard Inquiry
Several credit cards are designed to minimize the impact on your credit score by not performing a hard inquiry. These cards typically offer the following benefits:
- No Hard Inquiry on Application: These cards do not perform a hard inquiry when you apply, allowing you to build or maintain your credit without the risk of a score drop.
- Pre-Approval Process: Many of these cards offer a pre-approval process, where you can check your eligibility without a hard inquiry.
- Low Interest Rates: Some of these cards offer low interest rates, making them an attractive option for those looking to manage their debt effectively.
- No Annual Fee: Many of these cards do not charge an annual fee, saving you money in the long run.
Popular Credit Cards That Don’t Hard Inquiry
Here are some popular credit cards that don’t hard inquiry:
- Credit One Bank Unsecured Visa Card: This card offers a pre-approval process and does not perform a hard inquiry when you apply.
- Capital One Secured Mastercard: With a low annual fee and a pre-approval process, this card is an excellent choice for those looking to build credit.
- Discover it Secured: Discover offers a pre-approval process and a cashback rewards program, making this card an attractive option for new credit applicants.
Conclusion
Credit cards that don’t hard inquiry provide a valuable alternative for those looking to build or maintain their credit without the risk of a score drop. By choosing one of these cards, you can enjoy the benefits of credit card ownership without the drawbacks of a hard inquiry. Be sure to research and compare the options available to find the card that best suits your needs.
