Concord, NC · Member since 2017 · 3 posts · 0 votes
I've asked one apartment I'm interested in and they said they didn't know, that they used a program called Resident Check. I know hard inquiries drop your credit score. Do most apartments use third parties to screen applicants?
@Kat Hudson did the apartment just need your Social Security # to run the credit check? If so, it is likely a hard inquiry as they are pulling your information. If you have to go on the Resident Check site and verify your identify to release your information then that would likely be a soft check.
Using a social security number (or Social Insurance Number here in Canada) just facilitates finding the correct credit history when the query is run ... its presence does not imply a hard enquiry.
@Kat Hudson did the apartment just need your Social Security # to run the credit check? If so, it is likely a hard inquiry as they are pulling your information. If you have to go on the Resident Check site and verify your identify to release your information then that would likely be a soft check.
@Kat Hudson did the apartment just need your Social Security # to run the credit check? If so, it is likely a hard inquiry as they are pulling your information. If you have to go on the Resident Check site and verify your identify to release your information then that would likely be a soft check.
Using a social security number (or Social Insurance Number here in Canada) just facilitates finding the correct credit history when the query is run ... its presence does not imply a hard enquiry.
@Kat Hudson did the apartment just need your Social Security # to run the credit check? If so, it is likely a hard inquiry as they are pulling your information. If you have to go on the Resident Check site and verify your identify to release your information then that would likely be a soft check.
Using a social security number (or Social Insurance Number here in Canada) just facilitates finding the correct credit history when the query is run ... its presence does not imply a hard enquiry.
It depends on the service being used as here are some examples. With the TransUnion product and similar background checks the applicant will go online and verify their identify and enter their social security number to "release" their credit information to the landlord or property manager and this is a soft inquiry.
If the landlord or property manager is requesting the background check by entering the applicant's social security number this can be a hard check since the check is being "pulled" by the property manager or landlord with the applicant's permission.
Regardless the complex should be able to confirm what type of inquiry it is so you know before it is completed. Thanks.
I've heard that though it does "lower" your credit score it is merely by 1 point. The problem lies in that if you have your credit pulled too often over X period of time that lenders get nervous as to why you had so many inquiries.
Well it seems as if the few apartments I asked, they use a third party website to do a credit check, so I assume its a hard inquiry. I'm only going to apply for a few apartments, I don't want my credit score dragged down too much.