Will using Lending Tree impact my credit score?

Utilizing LendingTree's service to compare loan offers does not impact one's credit score. When an individual uses LendingTree, they perform what is known as a soft inquiry to provide various loan options tailored to the user's profile. Soft inquiries are used for pre-approval stages and do not affect the credit score, unlike hard inquiries, which can have a minor, temporary impact on the score when a formal credit application is submitted. Therefore, when searching for loans or credit terms through LendingTree, one can be assured that their credit score remains intact during this preliminary phase of loan shopping. However, once an individual decides to proceed with a specific lender and a formal application is made, the lender will likely conduct a hard inquiry to finalize the loan approval process, which could then affect the credit score slightly.