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bayla
Love my two kiddos :)
Member since 8/06 7178 total posts
Name:
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checking credit score
does checking you own credit score/credit report, lower the score?
TIA!
Message edited 4/29/2008 7:42:56 PM.
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Posted 4/29/08 7:42 PM  |
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TJLealand3
LIF Adolescent
Member since 6/07 839 total posts
Name:
Thomas
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Re: checking credit score
If you check it yourself it does not affect your score. When we decided to purchase a home I became a member of True Credit report and it was well worth it, there were old and inaccurate charge accounts in my credit history and I was able to closely monitor the score as it changed each month.
I personally contacted the inaccuate credit posters and had the info removed.
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| Posted 4/29/08 8:04 PM |
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csorisi
My 2 LOVES
Member since 11/05 1984 total posts
Name:
Corinne
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Re: checking credit score
You are entitled to one free credit report a year I not sure if you check it more than that if it will effect your score or not. I don't see why it would especially since there is so much identity theft you should be able to check it monthly without any effect.
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| Posted 4/29/08 8:48 PM |
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Babe49
M...
Member since 4/08 1880 total posts
Name:
Maria
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Re: checking credit score
Checking your own report does not affect your score at all.
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| Posted 4/29/08 9:41 PM |
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Sandy55
My family ROCKS!!!
Member since 2/08 1219 total posts
Name:
Sandy
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Re: checking credit score
Posted by Babe49
Checking your own report does not affect your score at all.
what if someone else checks it?
How much does it go down...and when would it go back up?
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| Posted 4/30/08 10:56 AM |
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HeatherRose
Life is Good :)
Member since 11/07 6605 total posts
Name:
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Re: checking credit score
my bank does for free and I can look at my score everyday, I wonder if that effects it. DH says that means their checking it everyday to update it on their site. I hope that doesn't effect my credit score
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| Posted 4/30/08 11:00 AM |
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bicosi
life is a carousel
Member since 7/07 14956 total posts
Name:
M
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Re: checking credit score
Posted by Sandy55
Posted by Babe49
Checking your own report does not affect your score at all.
what if someone else checks it?
How much does it go down...and when would it go back up?
Checking your own score does not affect your score at all.
There are 2 types of checking. There are soft and hard inquiries. A soft inquiry is when youcheck your own score. It comes up as inquiry on the credit report. This will not do anything to your score.
When you apply for credit, whether it's a mortgage, car loan, credit cards, or anything like that, this is known as a hard inquiry and this will lower your score a bit (although not drastically unless you're applying for 10 diff credits cards, a car loan and a mortgage all at the same time).
It is never wise to submit too many different applications for different types of credit in a short period of time. This can lower your score.
If you are submitting many applications, let's say for a mortgage (I know you are househunting) (where oftentimes, you are submitting ALOT of them to various different banks/mortgage companies in a short period of time), that will be treated as a single inquiry--not multiple inquiries. So you'll be okay.
I hope that makes sense!
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| Posted 4/30/08 11:03 AM |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: checking credit score
Checking your credit score does not hurt your credit because you do what's called a "soft pull".
Banks can also monitor your credit on occasionally if you already credit cards with them and they will do the same soft pulls so your credit doesn't get affected.
The only time your scores drop is if you apply for credit. Then they have to do what's called a "hard pull". Your score typically drops 2-3 points for every hard pull. Hard pulls go away after two years and as every hard pull drops off your report, your scores will go back up 2-3 points per pull.
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| Posted 4/30/08 11:15 AM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: checking credit score
I just want to add that I recently applied for credit and it did nothing to my score. Maybe my score was on the verge of getting 2-3 points better when I applied..who knows.
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| Posted 4/30/08 12:36 PM |
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jandt2006
LIF Adult
Member since 8/05 1338 total posts
Name:
Teresa
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Re: checking credit score
i just checked my husband's credit report and his mom's mortgage is on it! 
now i'm going to constantly check every once in a while..weird.
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| Posted 5/1/08 8:34 PM |
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