The words “hard pull” and “soft pull” often pop up when people discuss about credit report, credit history, or credit inquiries. Actually, they are not official terms used by credit experts. Both “Hard pull” and “soft pull” are referred to credit check performed by a third party who wants to check your credit history.

“Hard pull” usually refers to a credit inquiry that is initiated by you, and it does affect your credit score in a short time period. This usually happens when you want to apply for a credit. For example, when you apply for a credit card or a loan or a wireless service, the credit lenders might want to check your credit history based on which they will determine whether or not to approve your requests. Hard pulls are on your credit report and visible to other creditors.

“Soft pull” usually happens when creditors want to send you pre-approved credit applications, or when they want to verify the accuracy of the information you provide. Of course, when you check your own credit history, the inquiries are “soft”. Soft pulls are actually on your credit report but they are only visible by you. So they won’t affect your credit score.

Too many hard pulls on one’s credit report can be harmful, and can result in higher loan or insurance rates. It will be a reason for your creditors to refuse your credit request.

My rule is “I must have at least $100 incentive for each hard pull.”

The following is a list of banks or other kind of credit lenders that DO pull hard credit inquiries.

Ameriprise Insurance (division of American Express) - for car insurance quote

AmTrust for a CD account and Money Market Account

AT&T Wireless

Bank of America for a checking account

Bank of America for a CD account opened online

Bank of America for savings account

Bank of New York for a checking account and a savings account

Brookline Bank for a checking account

Brown & Co. for every account

Charles Schwab Bank for opening new checking and investor account

Charter One Bank for a checking account

Chase Manhattan Bank for a checking account

Cingular Wireless

Citibank for opening a 6-month CD

Citibank for a checking and savings account

Citibank pulls hard inquiry for opening e-Savings account

Comcast cable TV and HIS

Countrywide (stopped pulling sometime in 2007)

Direct TV

Dish Network

Dollar RENT A CAR

Everbank for a Money Market Account, as well as for a checking one

Ebank for a checking account

GMAC Bank for their MM savings account

ING Direct - When you open Electric Orange checking account. No hard pull for opening Orange Savings account.

Johnson & Johnson by Yale & Associates on Experian- for employment purpose

Marquette National Bank — checking, savings, CD and safe deposit box

NASA Federal Credit Union - when applying for membership

National1St Credit Union - When opening an account/CD

Pentagon Federal Credit Union for membership and a new account

Presidential Bank for a checking account

Principal Bank for a checking account, also pulls for money market account

Scottrade for a new account

Sprint for a new line

State Farm Auto Insurance for getting an auto insurance quote

Suntrust for opening of a checking account

T-Mobile for cell phone service

Time Warner Cable for new service

TD Waterhouse/Ameritrade hard pull on an existing customer to open IRA

UFBDirect.com for a High Yield Money Market Saving account

US Bank (online / phone only. soft pull when opening in branch) for a checking/saving account

Verizon for landline, DSL, or VoIP. Also for new cellphone account

Wachovia for opening a checking account

Wells Fargo—whatever you do with them—a hard pull

Banks that DO NOT pull hard credit inquiries.

Chase Bank

Countrywide Bank FSB

FNBO Direct

LaSalle Bank

PNC Bank for opening a free checking account

Washington Mutual

U.S. Bank (in-branch visits only)

CapitalOne high yield Market Money account