Preserve Your Credit Score When Applying for a Loan

preserve credit score when applying loan

Your credit score is an indicator to lenders and landlords of how well you have handled your credit over the past few years. A number of issues can make your score drop, including problems that weren’t your fault, such as excessive medical debt. So, keeping your score as high as possible is crucial for landing both good properties and loans. The fact that inquiries on your credit report can drop your score is extremely frustrating, but you have another option.

Why you don’t want hard inquiries

Your credit report shows a type of inquiry known as a hard inquiry. Most inquiries made by companies into your credit are hard inquiries because these are basically requests for detailed credit information specifically for the purpose of issuing more credit. Even housing inquiries involve a type of credit, namely your promise to pay rent over a series of months.

Credit bureaus don’t distinguish between someone looking for credit for a once-in-a-while loan and someone seeking a ton of credit out of recklessness. So, all these inquiries dent your credit score as a way to telegraph that something is going on with you financially. Unfortunately, you can’t really place a note on your credit that states you’re applying only for an acceptable reason.

A lot of inquiries can make your score tank and as anyone who has had to raise their score can tell you, it can take longer for the score to recover and go up than it did for it to fall. If you want to preserve your credit score, then you need to keep inquiries off of your report. When you look for a loan, you need to look for loans with no credit check

These loans use other factors such as your pay stubs to determine how much to loan you. These no credit check loans might be on the lower side, but they keep that hard inquiry off your credit report. Do keep in mind that these are true loans, you will pay interest, and you will have to stay on top of payments like you would with any other debt. 

What are soft inquiries?

Occasionally you’ll see an option to pre-qualify for a loan. This is not a full application, and the business trying to qualify you does something called a soft inquiry. This type of inquiry doesn’t show up on your report. The qualification is preliminary only, however, and the lender will likely want to do a hard inquiry if you proceed with your application. Be on the lookout and specifically ask about avoiding credit checks and hard inquiries throughout the application process.

When you need cash fast but also need to save your credit score, a no credit check loan is the perfect solution.

Jessica Springer

Jessica Springer is a full-time content writer who previously worked as a freelance writer. Jessica is passionate in all things related to writing and content creation, and ensures client satisfaction in her work.

Apply Online Today to Get a Fast, Easy and Secure Loan

1125 E BROADWAY, GLENDALE, CA 91205 | 888-200-7445 | [email protected]



Material Disclaimer: Slick Cash Loan company and website ( owner doesn't lend or represent any lender or provider of such service, doesn't make decisions regarding credits or loans and isn't implicated in any way in the lending process. Company Slick Cash Loan ( provides a platform that connects potential loan borrowers with reliable and reputable loan lenders. It doesn't regulate the lending process and hence isn't liable for the lenders' actions. The particular lender offering the services is responsible for and controls loan terms, rates, fees, loan amount, terms of repayment, legal actions for late and non-payments, and cash transfer times.


APR Disclosure: An APR (annual percentage rate) refers to the specific rate at which loans accrue interest and is generally based on the cost, amount, and loan period, as well as the prescribed payment timing and dollar amounts. Any lender that offers loans to consumers must, by law, show a borrower the exact APR charged for the loan and all loan terms before the execution of any loan agreement. Certain states may have specific laws that limit the APR that lenders may charge any borrowers. The actual cash advance loan APR ranges from 200 percent to 1386 percent, whereas the APR for installment loans ranges from 6.63 percent to 225 percent. However, loans made in those states with no laws regarding APR limits could carry even higher APRs. PLEASE NOTE: All APR rates on cash advance loans may be subject to change at any time.


State Regulations: Borrowers in some states might not be eligible to apply for online loans. Additionally, loan services are only available to some jurisdictions or states.


Credit Implications: Lenders connected via Slick Cash Loan ( can review a borrower's credit history when making the lending decision. This process can involve contacting an applicant's credit bureau to determine their credit aptitude, worthiness, and standing.


Loan Approval: Slick Cash Loan company doesn't guarantee any loan approval. This website is just a platform for linking borrowers and lenders. Therefore, the decision to approve or not to approve the loan depends on the lender.


Borrowers Beware: Short-term lending is intended to address financial needs quickly; hence, it can only be used as a short-term solution. Short-term loans come with costs that may worsen a borrower's financial situation. Applicants are advised to consult with a financial expert about the risks involved in taking a short-term loan and the best alternatives.


By using, the User acknowledges that they've read and understood the Privacy Policy, Terms of Use, Rates, and Disclaimer.