Ken Schenck has an interesting post on the distinction between theological and inductive hermeneutical approaches. Schenck notes three distinctions (which I have only listed, see the post for additional explanation of each).
1. Its fundamental method is deductive rather than inductive.
2. It does not aim at the most likely interpretation given the evidence but on the interpretation that best fits with its presuppositions.
3. Theological hermeneutics is a species of reader response criticism.