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(image: https://i.pinimg.com/originals/80/9b/63/809b63e2446c953ba2efecc1172ed54f.png)Does checking my credit score Reduce It?
A credit check isn't going to hurt your score. It's safe, and it's smart to keep it in check regularly.
By Bev O'Shea personal finance writer | MSN Money, Credit.com, Atlanta Journal-Constitution, Orlando Sentinel Bev O'Shea is a former NerdWallet authority on consumer credit, scams and identity theft. She holds a bachelor's level degree of journalism at Auburn University and a master's in education from Georgia State University. Before joining NerdWallet, she worked for daily newspapers, MSN Money and Credit.com. Her work has been featured throughout the world in The New York Times, The Washington Post, the Los Angeles Times, MarketWatch, USA Today, MSN Money and many other places. Twitter: @BeverlyOShea.
and Amanda Barroso Lead Writer | Budgeting, credit scoring and personal finances Amanda Barroso is a personal finance journalist that was a part of NerdWallet in 2021 and focuses on credit scoring. She also wrote data-driven studies and has contributed to NerdWallet's "Smart Money" podcast. Before joining the team, Amanda was a journalist for over a decade covering issues facing many Americans as well as her role as a journalist in the Pew Research Center as well as a policy analyst at the National Women's Law Center and an instructor at a college. Amanda earned a doctorate from The Ohio State University.
Updated Sep 23rd 2022
Editor: Kathy Hinson Lead Assigning Editor Personal finances, credit scoring debt and money management Kathy Hinson leads the Core Personal Finance team at NerdWallet. Prior to joining NerdWallet, she worked for 18 years working at The Oregonian in Portland in capacities such as chief of the copy desk and team editor and designer. Previous experience included copy editing and news for various Southern California newspapers, including the Los Angeles Times. She earned a bachelor's degree in journalism and mass communications from the University of Iowa.
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If you check your credit score by yourself It won't affect it. However, should you ask a lender or credit card company doesit, it could.
You'll either see an "inquiry" on your credit report. It's a sign that someone - either you or an lender -- pulled your credit report. (A is your history with credit. Your credit score is calculated from information in your credit reports.)
If you've had a credit report the report, you'll probably be able to see the credit card issuers on your credit report. There are also collections agencies and lenders for whom you have not applied as well as records of the time you checked your own credit.
When does checking my credit score decrease it?
" ," also called "hard pulls," are those that could cost you points. They are made you are deciding whether to offer credit (or additional credit) to you. These hard inquiries should not happen without your knowledge or consent.
You can review your hard inquiries in NerdWallet's summaryof your credit, which is updated every week. You can also check your free credit report at to see who has reviewed it in the last two years. Consumers currently have access to the reports each week through 2023.
A hard inquiry might cost you five points, according to the inventor of the most frequently used scoring formulas. With VantageScore, an increasingly popular credit scoring model an inquiry that is hard to conduct will likely cost more.
Contrarily the other case, a "soft inquiry" or "soft pull" happens when youor a creditor trying to preapprove your application for the loan or credit card -examines your credit score. A soft inquiry does not have any effect on your credit score.
If you are applying for several credit cards close together, you might notice a drastic drop in your credit scores. Before you start applying make sure you conduct research on the for your specific financial needs, and keep eligibility requirements in your head.
A on your credit report for two years. However, any effect of your credit rating diminishes sooner than that.
Make sure you are aware of your credit score
We'll notify you the moment your score changes and offer free tips on ways to continue building.
What are the benefits of checking your credit? smart
often can inform you that something is amiss. A large, unexplained changes in your credit score could be your first indication of an error or mistake on your credit report.
When you are applying for credit, it is beneficial to have an idea of exactly what your lender as well as the credit card issuers will look at when evaluating your application. Being aware of your credit scores can keep you from needlessly losing points by applying for credit products that you aren't eligible for.
Also, knowing where you are in the process gives you the opportunity to enhance your credit score before you submit a credit application.
Most frequently asked questions Can I check my credit score free?
Many credit card issuers and personal finance websites provide score credit that is completely free to customers. However, if you want a certain version from a specific credit bureau, you may need to pay.
Why does your credit score decrease when you look at it?
The credit score you check on your own isn't a factor in determining your credit score. However, your score may go down if someone else checks it. It could happen if were to apply for a loan credit card, credit card, or maybe an apartment.
What is the average number of points your score go down in response to an inquiry?
FICO states that for the majority of people, the average is five points for a so-called "hard investigation." VantageScore can drop as high as 10 points, which can be recovered in three months.
Is checking my credit score free?
A lot of credit card issuers as well as personal finance websites offer credits scores which are free for consumers. But, if you'd like a certain version from a particular credit bureau, you could need to pay.
What causes your credit score to drop when you examine it?
Your credit report isn't a factor in determining your credit score. However, your credit score can go down if someone else checks it. This could happen if you were to apply for a loan or credit card, or even an apartment.
What is the average number of points your score decrease in response to an inquiry?
FICO states that for the majority of people, the average is five points to make a "hard investigation." VantageScore could fall as low as 10 points and be recouped within three months.
How do you check your credit score without damaging it
Keep these items in mind when you are evaluating the credit rating of your:
There are often several versions. When you track your credit score, make sure to use the exact credit score and version of it each time. Otherwise you're comparing apples with oranges. Credit scoring models generally measure the same thing, however they may weight them differently and may use different scales.
You don't need to buy ID theft or credit monitoring security to view your scores. There are a variety of ways to get your score for free. They could be provided with a credit card or you can obtain an instant credit score through NerdWallet, which updates weekly.
In an age where data breaches and identity theft are the norm having your credit score checked regularly is a good way to maintain your credit.
The authors' bios: Bev O'Shea is a former credit writer at NerdWallet. Her work has been featured on the New York Times, Washington Post, MarketWatch and elsewhere.
Amanda Barroso covers consumer credit and debt for NerdWallet. She previously worked for the Pew Research Center and earned a doctorate at The Ohio State University.
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