During Pre-Approval: The pre-approval step is the first part of the application during which you submit your information and connect your banks. We only perform a soft pull during the pre-approval process which won't affect your credit score. If you're pre-approved, you'll be invited to submit the information you filled out in your pre-approval stage by submitting your application for a hard pull.
When Submitting Your Application: If you're pre-approved, you'll be invited to submit your full application for Petal. At this point, we’ll do a hard inquiry which will show up on your credit report. This could affect your credit score, but in most cases, it has a small impact or no impact at all.