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Daniel Azzoli
By: daniel_azzoli
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Top 3 Soft Pull Personal Loans: The Best Options

“Soft pull personal loans” is probably a term you might have run into. But what’s that mean? And if you’re looking for them, where should you turn to? We’re going to answer these questions and we’ll also help you understand how does a personal loan affects the credit score.

Apply For A Soft Pull Loan!

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Top 3 personal loans with a soft credit check

Let’s dive into the top three lenders to consider when you need a personal loan with a soft credit check!

#DidYouKnow
A soft credit check is also known as a soft credit inquiry.

Camino Financial

camino financial logo

At Camino Financial, our number one belief is that no matter what the circumstance is, everyone is deserving of access to the money they need.

Looking for online loans with a soft credit check? Try Camino Financial’s Loans:

You can get from $1,500 to $7,500, with an APR of 33% to 35% and 12 to 36 months to pay. Plus, you can pay off your loan before without having to worry about prepayment penalties.

Even better yet, you can get money in your account as soon as 5 days

What makes us unique:

We designed our process to tailor to your specific needs. This means that:

  • You can apply with an ITIN if you don’t have an SSN
  • Obtaining loans is still possible if you don’t have a credit history or for lower credit scores
  • You can get an instant prequalification
  • We offer unsecured loans, so you won’t need to pledge collateral to qualify

On top of these things, some of the benefits you’ll find with our soft pull personal loans include:

If you’re interested in a simple unsecured personal loan, feel free to submit an application today!

Get Approved For A Loan Today

 

OneMain Financial

OneMain Financial logo

If your credit report is not perfect, OneMain may have personal loan options for you.

To get approved for a loan with OneMain, you’ll need to visit one of their storefront locations to finish the loan application process.

If you don’t feel comfortable navigating your way through the borrowing process online, this might be a selling point for you. But if you’re looking for the convenience that online loans offer, this may not be your best option.

One Main’s Loans:

You might be able to get a loan with a minimum loan amount of as little as $1,500 and up to $20,000, with a term of 24 to 60 months and an APR (annual percentage rate) starting at 18% and capping off at 35.99%.

Avant

avant logo

One of the benefits of applying for soft pull personal loans with Avant is that the range of the loan amount you can get is relatively wide.

These soft credit check loans from a direct lender have another benefit: they can be fast. They can get you your money relatively quickly if they approve the loan.

Avant’s Loans:

You can get a loan anywhere from $2,000 to $35,000 with an APR from 9.95% to 35.99%. Then, you can choose loan terms from 24 to 60 months to repay.

woman's hands counting money

How does a personal loan affect the credit score?

Applying for a loan that doesn’t affect your credit sounds innocent enough, right? How could it do you any harm?

Well, it’s a little more complicated than that. For example, when you try to borrow money from a lender, they’ll either perform a hard or soft inquiry on your credit history. These are also known as hard and soft pulls.

Why does this happen?

Well, when a hard inquiry on your credit takes place, this basically means that a lender is taking a relatively detailed look at your credit history. This will appear in your credit report as an inquiry, so it’ll negatively impact your credit score.

So, what’s the difference between hard pull and soft pull personal loans? We’ll take a closer look at that in the next section.

smartphone with credit score

What is a soft pull credit check?

Your credit report is crucial if you want to understand a soft pull credit check vs a hard pull.

When soft inquiries are performed, you don’t have to worry about your credit score dropping or receiving any damage. Why? Because soft credit pulls do not appear on your credit report.

On the other hand, when a lender performs a hard pull, it will become part of your credit report, and your credit score will take a bit of a hit.

#DidYouKnow
A hard inquiry can lead you to end up with bad credit.

So, in what scenarios will soft inquiries be performed? Well, these could include:

  • Soft pull personal loans applications
  • Pre-approved offers for credit
  • Offers from lenders or creditors that you already have an account with
  • Insurance companies

The key point here – if a credit check is performed when you get pre-approved for personal loans or the loans are “soft credit check loans,” your credit report won’t get dinged.

#DidYouKnow
You don’t need to restrict yourself to borrowing money from a storefront lender.
You can also find online loan applications with a soft credit check, which might be a little more convenient for you if you don’t want to worry about travel time, having to apply within regular business hours, and waiting in lines.

Why you should get soft credit check loans

Applying for soft pull personal loans won’t affect your credit score.

So, if you need to apply for a loan and you’re worried that your credit score might drop a few points, take a look at the lender’s website to try and see if their loan offer uses hard or soft inquiries.

If they only do soft pulls, you’re in the clear!

woman happy she got soft pull personal loans

Apply for a loan that doesn’t affect your credit score

We understand how overwhelming it can be to walk into the world of personal loans without knowing where to start and what to look for.

That’s why our main aim is to help educate you on what you need to know and make the borrowing process as simple as possible!

If you’re in need of cash but don’t want a credit inquiry to do any damage to your credit score, soft pull loans might be the right choice for you.

Apply for a personal loan today if you need a financial boost.

Apply now!

We hope this article has helped you learn a little more about some of the important factors surrounding personal loans!

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FAQs about Personal Loans With Soft Credit

What are other ways to avoid hurting my credit score?

Here are some quick tips that can help you:

  • If you need to apply for a product with a hard credit inquiry, make sure only to submit 1 application with only 1 lender.
  • Make sure you make all your monthly payments on time (this, too, will help you avoid missed payments fees).
  • Don’t make too many applications with credit card companies at the same time.
  • Make sure you find financial institutions that offer products that you can comfortably repay.
  • Never use more than 30% of your credit limit on your credit card.
  • Make sure to always check your credit reports (from all credit bureaus) to ensure there aren’t any mistakes that could hurt your credit scores.

Can soft pull personal loans help me build credit?

It depends on the financial institutions. If it reports your payments to one of the three major credit bureaus, you might be able to improve your credit score!

How does this work exactly?

Well, your payment history and ability to make timely payments on your credit accounts are some of the most significant factors that affect your credit score.

So, as long as you don’t miss any payments on your soft pull personal loans, your credit report and credit score will remain healthy. Plus, you might be able to give your credit score a boost!

This can be an excellent way for anyone with a bad credit score to improve their credit score.

Where can I find soft pull personal loans?

Another thing to keep in mind is that you can find soft credit check loans from a direct lender or from a loan matching service.

  • With a direct lender, you’ll generally only deal with one point of contact throughout the borrowing process, and this lender will fund your loan.
  • A loan matching service, on the other hand, doesn’t fund your loan. You’ll need to apply on their site, and then they’ll match you to a lender.

Both systems have their merit, so do a bit of research to figure out what might work better for your situation.

camino financial logo

Camino Financial is an online direct lender with minimum requirements and friendly repayment terms. So why not apply for one of our online loans with a soft credit inquiry?

With us, you can easily prequalify for a personal loan with soft pull.

Check if you
qualify for a loan

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