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Does checking credit report hurts credit score?

Submitted by Gerben on Tue, 02/11/2020 - 22:55

Does checking credit report hurts credit score?

It's a false belief that checking your credit negatively affects your credit score. Checking your own credit doesn’t negatively affect your score. Moreover, regular credit monitoring can help you understand and improve your credit. However, there are hard inquiries (or pulls) which may really cost you up to 5 points. They are made when the lender/creditor needs your credit information to make the decision whether or not to give you a loan/extend credit/etc.

Submitted by Emily Morgan on Wed, 02/12/2020 - 06:12

Emily Morgan

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Checking your credit score on your own isn't harmful for your score. But if a lender or credit card issuer check your score, it might. In both the cases, an “inquiry” will be listed on your credit report. Checking your own credit score or report is called a “soft” inquiry and when a third party checks it, it is called hard inquiry.

Submitted by Barbara Delinsky on Wed, 02/12/2020 - 23:14

Barbara Delinsky

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