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How does applying for a loan affect my credit?

Checking your rate with Central Pacific Bank will not affect your credit score.  If you proceed with your application after receiving a rate, your credit score may be impacted.

When you check your rate, we make a “soft credit inquiry."  Soft credit inquiries on your report do not lower your credit score, but you may see an inquiry when you view your report. If you are offered a loan and proceed with the application, we will then make a “hard credit inquiry” to verify the accuracy of  your application. This action will be recorded as an inquiry on your report, and it may impact your credit score.

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