Yes, the Discover it Cash Back will do a hard pull. You will need a credit score of at least 700 to get it.
You can prequalify for the Discover it Cash Back on Discover's pre-qualification page, which will not affect your credit score as it will be a soft pull. However, if you do prequalify and want to get the card, you will need to submit an actual application which will result in a hard pull.
A hard pull usually causes an applicant's credit score to drop by 5-10 points. Most people’s scores bounce back within 3-6 months with responsible credit management, but it can take up to 12 months. You can learn more about how to minimize the credit score damage here.
A soft credit check shows the same information as a hard inquiry. This includes your loans and lines of credit as well as their payment history and any collections accounts, tax liens or other public records in your name. A soft credit check does not hurt your credit because it happens when … read full answeryou review your own credit report or a creditor does so for regular account maintenance or to pre-screen you for a credit card.
A hard credit check, on the other hand, is used when you apply for a new loan or line of credit. It can also happen when you ask for a higher spending limit on an existing account. A hard credit inquiry causes temporary credit score damage because it signals that you are trying to borrow more, and creditors need to see that you can handle the burden responsibly.
So to recap, hard and soft credit checks show the same thing. They just differ in terms of why they’re done and how they impact your credit score. For a more detailed breakdown, check out WalletHub’s Hard vs. Soft Credit Inquiries guide. You can also learn more about the soft side of things in particular from our article on Soft Credit Checks.
Applying for a credit card does hurt your credit score, but your score should only drop a few points and rebound within 3-6 months if you use your credit card responsibly. The longest the hard inquiry from a credit card application can affect your score is 12 months. After that point, it will still be visible on your credit report for another year but will have no influence on your score.… read full answer
Pretty much any time you apply for new credit, whether it’s a bank loan or a credit card, the lender does a hard inquiry into your credit history. The inquiry stays on your credit report for two years, but the more responsible you are as a borrower, the sooner your score will turn around. If there are numerous hard inquiries added to your report in a short period of time, however, the damage will be greater and last longer than it would otherwise.
You can see exactly how much applying for a credit card is likely to hurt your credit score by trying out WalletHub’s free credit score simulator. Just remember that even though applying for a credit card may hurt your credit score, that shouldn’t necessarily stop you from doing it. There are ways to minimize the damage and make sure that a temporarily hurt credit score doesn’t actually hurt your wallet, which you can learn more about below.
How applying for a credit card affects your credit score:
Applying for a credit card usually causes your credit score to drop by a few points for 3-6 months.
Nearly all credit card applications result in a hard credit inquiry, which can affect your credit score for 12 months and stay on your credit report for up to 2 years.
Applying for numerous credit cards in a short period of time will hurt your credit score more than a single application.
The fewer credit accounts you have and the shorter your credit history is, the more a hard inquiry will affect your score.
Applying for credit can hurt your score whether you get approved or denied.
Some secured credit cards don’t check your credit when you apply, which means there is no hard inquiry. But your credit score may still dip slightly after opening an account, as new cardholders need to demonstrate they can manage the added responsibility.
Temporary credit score damage from a credit card application does not have to cost you money. Just wait until your score recovers before using it again for something important – like applying for a mortgage or auto loan.
Your credit score will recover faster from a credit card application if you pay all your bills on time and keep your balances well below your credit limits on your credit card accounts.
While applying for a credit card does hurt your credit score in most cases, it’s usually not enough of a drop to worry about. Using your new card responsibly should help your score recover quickly and then go higher than it was before. You just don’t want to apply for several new cards at once or risk a hard inquiry right before an important loan application.
You can monitor how applying for a new credit card ends up affecting your credit score by signing up for a free WalletHub account and getting free daily credit score updates. You’ll also get personalized recommendations for the best credit cards to apply for.
WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.
WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.