It is now possible for financing companies and lenders to exceed a standard credit report. This helps to better manage risk and identify consumers with low intention to repay. Alternative data is a great solution when working with the subprime and no credit market.
With Soft Pull Solutions, you’ll get access to alternative data for a fuller report and better picture to understand potential risks.
Most industries view FICO and vantage credit scores when determining if a customer is high-risk or desirable for their business. However, there is now additional data that often does not get shown in a “standard credit report”. Using additional data helps financing companies better determine which individuals they can lend to with confidence.
To make a financial decision on an applicant, you can rely on alternative data to see the consumer's financial stability and prospects' ability to pay back loans. This helps lenders gain more insight when working with poor credit and consumers in the subprime market.
Additional Reports & Features
When you sign up with Soft Pull Solutions, you’ll have access to a variety of other detailed reports and services designed to meet your specific business needs. Click the button to view a full list of reports available to your account or to schedule a meeting.
| What Is Different? | Soft Pulls | Hard Pulls |
| Impact on consumer credit? | No | Yes |
| Social Security Number required? | No | Yes |
| Date of Birth required? | No | Yes |
| Does running an inquiry create trigger leads? | No | Yes |
| Do you need to print a Risk-Based Pricing Notification and give it to the consumer after you pull the report? | No | Yes |
| Is it a full credit report? | Yes | Yes |
| Is a FICO Score included with the report? | Yes | Yes |
| Is the report sufficient for tenant screening purposes? | Yes | Yes |
| Can I get consent over the phone? | Yes | Yes |
Click below to view a sample of a soft pull credit report