Does using LendingTree affect your credit score?

When one uses LendingTree to compare loan offers and rates, the process often involves a soft credit inquiry, which does not affect one's credit score. LendingTree itself is designed as a comparison platform where various lenders can present their loan products to potential borrowers. This initial phase of checking rates and terms generally doesn't hurt the credit score because it isn’t considered as an application for credit. However, once the individual decides to proceed with a loan from a lender within the LendingTree network and moves forward with a formal application, the lender will typically conduct a hard credit inquiry. A hard inquiry could have an impact on the credit score, but this would be a result of applying for the loan rather than just using LendingTree's service to explore options.