Credit checks at each step
Checking your rate with Compare Loan Offer (CLO) uses a soft credit pull, which doesn't affect your credit score. A lender usually runs a hard inquiry only after you choose its offer and continue. Once you take a loan, the lender reports it to the credit bureaus like any other account.
- Encrypted and secure
- No credit impact
- No personal info to CLO
- Free, no obligation
Loan terms from 2 to 60 months. Rates vary depending on the lender, your credit and your state. Maximum APR is 35.99%.
What happens at each step
| Step | Type of check | Effect on your score |
|---|---|---|
| Checking your rate with CLO | Soft credit pull | None. Only you can see it on your report. |
| Choosing an offer and continuing with that lender | Usually a hard inquiry, run by the lender | Can lower your score by a few points; it stays on your report for two years |
| Taking the loan | The lender opens and reports a new account | A new account and balance appear; on-time payments help over time |
Why checking first matters
- FICO scores group rate shopping for mortgages, auto and student loans, but not for personal loans.
- Applying directly with several lenders can mean several hard inquiries.
- Checking your rate first means you take one hard inquiry, for the loan you actually pick.
See which lenders will work with you
Pre-qualify in minutes. Checking your rate won't affect your credit score.
Common questions
Does checking my rate with CLO hurt my credit?
No. CLO uses a soft credit pull to check your rate, and soft pulls don't affect credit scores.
Will I see the soft pull on my credit report?
You may see it listed as an inquiry when you check your own report. Lenders don't see soft inquiries and they don't count toward your score.
When will a lender run a hard inquiry?
Usually after you select its offer and continue with its application. Each lender's process is slightly different, so check its terms before you continue.
Sources
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Pre-qualify in minutes. Checking your rate won't affect your credit score.