Does checking my credit affect my credit score?
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You’ve probably heard for a long time that checking your credit report often can significantly affect your credit score.
Credit report can significantly affect your credit score, but while it’s true that making these types of inquiries very frequently does affect your score, it’s also true that there is one type of inquiry that doesn’t necessarily affect it. It is recommended that you make as few inquiries as possible.
One inquiry that affects your credit score is when a lender views your credit report because you applied for new credit, such as a credit card, an auto loan, a home loan or an increase in an existing line of credit. These types of inquiries can affect your credit score and, in other posts we’ve already seen that this does nothing but make the creditor wary of your ability to deliver.
But, calm down, the side effect is minimal, as long as you limit yourself to these checks, but don’t let fear prevent you from performing such a function when it comes time to need any loan or service. However, there is one type of inquiry that does not affect your credit score and that is when your credit report is checked without you having applied for credit.
For example, insurance companies or prospective tenants may check your credit report to assess risk, or prospective employers may run background checks. Credit card companies may also check your credit to service and manage any relationships you currently have with them. To maintain a healthy credit score, avoid inquiries that affect your score whenever possible. Try to say no to those credit cards you are offered at checkout if they don’t make sense in your overall financial picture.
