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A 'soft inquiry' occurs when you check your own credit or give permission to someone like a potential employer to check your credit. They also occur when lenders, insurance companies, or credit card companies check your credit to pre-approve you for offers. According to credit reporting agency Experian, soft inquiries do not appear on your credit reports and do not impact your credit scores.
A 'hard inquiry' occurs when a lender with whom you've applied for credit reviews your credit report as part of their decision-making process. This type of inquiry appears on your credit report and can influence your credit scores.
Too many hard inquiries in a short period of time can be concerning to lenders, but if there are multiple inquiries for a certain kind of credit – such as a car loan or a mortgage – in a short period, credit scoring models will treat them as a single inquiry, which will have a smaller impact on your credit score than multiple, separate inquiries.
According to credit reporting agency Experian, hard inquiries are only one of many factors used in calculating your credit scores and are rarely the reason you might be denied credit.
Most instances of something unfamiliar on your credit report fall into one of these categories:
- A creditor using a name you don’t recognize or have forgotten because you haven’t used that account recently.
- An error in reporting by the creditor(s).
- (Less frequently) Credit fraud.
In any case, if you are uncertain of an account on your credit report here are some initial first steps to take:
- If you haven’t already, obtain an official copy of your credit report from www.anualcreditreport.com.
- Review the details of the account information provided such as credit limit, original loan amount, and open date. These details often help identify oddly named accounts or confirm for you that the account is in error.
- Contact the creditor listed on the credit report and request more information.
- If you determine that the account does not belong to you, can dispute the information with the credit agency. They will also detail the options you have to put security alerts or other corrective or preventative measures in place, if desired.
When making your Solarity loan payment online, always use the zip code for your physical address, even if you have a mailing address on file.
If your debit card was declined, please reach out to us via live chat or by calling 800.347.9222. We'll be happy to assist.
The credit bureaus understand rate shopping. If there are multiple hard inquiries for a certain kind of credit – such as a car loan, student loan or a mortgage – in a relatively short period, credit scoring models will treat them as a single inquiry, which will have a smaller impact on your credit score than multiple, separate hard inquiries. Soft inquiries do not impact your credit score.
Our routing number is 325183738. Additionally, you can find the routing number followed by your full 14-digit account number on the bottom of your checks. If you do not have checks and need to know your account number, reach out to us via live chat, or give us a call at 800.347.9222.
Mail for Solarity should be addressed to:
P.O. Box 2922
Yakima, WA 98907
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