Definition
In Canada, accessing a credit file for a credit decision (mortgage, loan, card) is a 'hard inquiry' (hard pull). It requires explicit consumer consent.
**Types of inquiries**: - **Hard pull**: accessing the file to make a credit decision. Recorded in the file, visible to other lenders, temporary score decrease of 3-10 points. - **Soft pull**: preliminary check (pre-screened offers, borrower's own check). Does not affect score, not visible to lenders.
**Mortgage shopping window**: Equifax and TransUnion apply a grouping policy: multiple hard inquiries from mortgage lenders within a 14-45 day window are treated as a single inquiry for score calculation. Shopping your mortgage with multiple lenders in the same period is therefore less penalizing than one might think.
**In Quebec**: the Act Respecting the Protection of Personal Information in the Private Sector (Bill 25) strengthens consent obligations.