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No Hard Credit Check. Only Soft Credit Checks for Pre-approval. $5000-$100,000 Loans. Apply to 40 lenders at once.

Welcome to The Yukon Project. I’ve analyzed millions of credit reports, hundreds of thousands of people’s financial data, and designed programs to help people improve their financial lives. And today, I want to answer the question about whether you can apply for a personal loan without it hitting you credit. 

No Hard Credit Check Person Loans

It can feel like a particularly insulting aspect of modern financial life that just the idea of looking for a personal loan can negatively affect your credit score…which can lower your chances of getting a personal loan. This is certainly true…to a point. If a lender does a hard credit check/pull when determining whether to lend you money, that hard credit check/pull can hurt your credit score between 5 and 15 points for a few months. 

How a Hard Credit Check for a Personal Loan Could Impact Your FICO Credit Score Score

And if you want to shop around and check your rate with more than one lender, does that mean that your credit score will be hit 20 to 60 points? Well, actually, no. The credit scoring agencies–the companies that create your credit score–don’t want to punish you for shopping around for the best rates. So, if you receive a bunch of hard credit pulls for a personal loan within a week or two, they all count as a single hard credit pull. 

But, hold on, because that’s not the end of the story. For the last ten years, the industry has been moving away from doing hard credit pulls when assessing whether to lend you money. In fact, almost all lenders will only do a soft credit pull on your credit file to do a preliminary assessment of your credit worthiness. For most lenders, you will only get a hard inquiry on your credit report if you move forward and accept the loan offer. 

Not only will it NOT hurt you to shop around, you really SHOULD shop around.

It’s the best way to get the lowest rate and the best terms you can get in your situation. We’ve tried to make shopping around easy at The Yukon Project. On our marketplace page, you can apply with any one of our featured lenders and we will check your rate with up to 40 other lenders behind the scenes. Checking your rate will not affect your credit score and we will show you all the approvals you receive so you can ensure to pick the lender that would be best for you. 

So, which lenders will do a no hard credit pull when you initially apply for a personal loan?

Well, all of these to start.

So, if you want to just check your rate with any one of these lenders, because they are all no hard credit check personal loans in the initial process it will not negatively affect your credit score.

If you found this video helpful, please like it and subscribe to our channel so we can continue to bring you unbiased personal finance information. Thanks for watching. 

Stop paying the high interest rates from carrying a monthly balance on your credit card!

Soft Credit Pull, Up To 40 Lenders at Once, See what you’re approved for!

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Jonathan Walker