The soft pull credit cards ranges in their types. There are soft pull business cards, soft pull retailers, soft pull store credit cards, etc. Soft pull store credit cards are the type of soft pull credit card that only accept buying from connected stores. You cannot buy from anywhere using a soft pull store credit. There are a few banks that issue soft pull store credit card. Many require a hard check inquiry to make the final decision.
Soft pull credit is a credit card that does not require a strict hard credit check before opening a credit account. As the name specifies, they do not make in-depth hard-check inquiries. A soft credit check, soft pull, or soft inquiry is all you need to get your credit card. You only need to provide a preliminary report of your previous credits by a lender or other entity.
Soft pull credit cards
A soft pull credit card is a credit card that does not affect your credit score at all. They make a soft inquiry and do not mess with the credit scores. Instead of going for a hard inquiry, they charge a security fee.
It is used when the user is trying to repair his bad credit and wants to make better credit scores.
Soft pull credit card for bad credit
As mentioned, using soft pull for bad credit is one of the two reasons why people register. Soft pull issuers do not upload soft pull credit scores in credit reports. That doesn’t affect the previously uploaded credit report, and you can recover your credit side by side.
Some soft pull credit cards issuers
There are very few issuers that offer soft-pull credit card A list of soft card issuers from America is following:
Bank of America
- Capital one
- Discover
- Wells Fargo
They all offer soft-pull credit cards with soft inquiry checks. Your bad credit will not be a problem for these companies.
Other companies like American Express and Chase also offer soft pull credit cards, but they require good credit.
Best soft pull credit cards 2022
Here is a list of the three best soft-pull credit card. Their securities fees, terms, and conditions vary, and we have ranked them based on these. The best ranked soft pull credit cards are the following:
- Secured Mastercard ® from Capital One: It’s a secured credit card with a $39 annual deposit fee and a minimum deposit of $200.
- OpenSky® Secured Visa ®: it’s the best option for students. They implement flexible student policies. They charge a $39 security fee and require a $200 minimum deposit.
- A self-credit-builder account with a Secured Visa® or credit card: charges a $25 security fee with a $100 deposit in the bank for three consecutive months.
Soft-pull Store credit cards
It is a type of soft pull credit card. The inquiry and allocation processes are the same. The only difference is that: Soft pull Store credit card cannot be used to make payments anywhere other than their connected stores. Retailers or store employees often use Soft Pull Store Credit Card.
There are no certain banks or companies that offer soft pull store credit card. Store credit card inquiry checks are rarely a soft pull inquiry. Store owners and retailers follow strict credit check policies. Most store credit card only uses soft pull for pre-approved processes. You can have a soft pull store credit card when you have received an approved application from stores.
There is no certified soft pull credit card that can be grouped as the best soft pull store credit card. You can apply at your favorite stores to grant you a soft pull store credit card. They may or may not provide a store credit card based on your financial behaviors.
Conclusion:
A soft pull credit card is issued after doing a soft pull inquiry check. They do not require in-depth inquiry reports for issuing a credit card. Handsome credit loans are issued, and they implement bearable policies. Soft pull credit loans are best for those who have bad credit or are trying to improve their credit scores. There exist different types of a soft-pull credit cards. Soft pull store credit is also a soft inquiry-based credit card. The store cards are issued by specified stores. These cards can be used to make payments only at these stores.
FAQs
Do soft credit pulls affect your credit score?
No soft pull credits do not affect credit scores negatively. However, it can help improve your credit score history.
Is a soft pull credit card the same as a credit card?
No, they are different based on their inquiry check. A soft pull credit card provider does a soft surface level inquiry check, while a credit card provider does a hard in-depth inquiry check.
Do all soft pull credit cards charge security fees?
Yes, almost all soft pull credit providers charge security fees ranging between $25 to $50. The changes also change based on the minimum deposited amount.
Can your credit limit get increased using soft pull?
Yes, your credit limit can get increased. For increasing the limit, Issuers consider good financial behavior and consecutive security payments.
