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Surety Bond Credit Check - Hard or Soft Inquiry

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Anonymous
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Surety Bond Credit Check - Hard or Soft Inquiry

Ok have a dumb question.  I'm new to the boards so if I'm posting wrong I apologize.  I'm considering starting a small business and I will be required to get a performance/surety bond in the amount of $20,000.  What I'm coming across is that everyone that writes the type of bond I'm needing wants my SSN for a credit check.  I've been told the credit check is used to determine the premium I would be paying - meaning the better the FICO score the lower the premium.  So since a bond isn't a loan and the bonding companies are not pulling a credit check to extend me credit, would a credit check by a bonding company be considered a "hard" pull or a "soft" pull? 

 

Thanks.

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Swapmeet
Valued Contributor

Re: Surety Bond Credit Check - Hard or Soft Inquiry

I am pretty sure that it will be an hp.



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