Is it a fact that checking your credit history decrease your score or effects it? if so fact or myth.?

Answer 1

The only thing that affects your credit score is when a creditor at your request pulls your credit report, such as when you apply for credit, or when you don't pay your bills on time or at all.

Answer 2

It is a myth. Checking your credit report only involves what is called a soft inquiry which your creditors don't see if they check your credit report and it has absolutely no affect on your credit score.

Anyone who says otherwise doesn't have a clue what they are talking about.

Edit: After reading some of the other responses I'm perplexed why so many ignorant people feel compelled to spread their ignorance.

Answer 3

yes and no. there are two kinds of credit inquiries; soft and hard. when you check your credit from someplace then that is considered a soft hit. you can check your own credit regularly like once a month for identity theft, proper reporting etc.

when you get a car loan, home loan or even a cell phone, those are considered hard hits which will drop your score by a small increment (stupid isn't it?) there is no safe amount to have these hard hits. even two three times in a year is considered too many times according to the bureaus. so about 99.9% of the population will have some sort of "too many inquiries" on their credit report.

ALSO: when you check your score, it will be different than when a mortgage company or dealership checks it. reason being is that when you check your own score, there is just the normal scoring model used to determine the score. it is a generic model that simply calculates timeliness of payments etc. when other people like dealerships or mortgage companies check it, they use different scoring models in determining your score so it will actually be lower than when you checked it. don't be too surprised by this phenomenon.

Answer 4

Myth- YOU can check your score as many time as you want- it is called a blind inquiry- meaning it does not show on your actual credit report that is sent to anyone you have given permission to check your credit. What I think you are referring to is, and I stupidly did it, I was looking for a cheaper car insurance policy and they check your credit- so I went to Progressive and as they advertise they quote 5-6 companies-- well, there were 6 inquiries on my report- and they STAY on the report. Also, everytime you apply for any type of credit, that inquiry will be on your credit report and they affect your credit score.

Answer 5

I don't think so - but having a lot of inquiries on your credit report because you applied for 20 credit cards recently might effect it. Everyone in the US can get a free report annually from each credit bureau now (w/o any affects on your score).

Answer 6

yes, it is a fact. i just bought a home and the mortgaging bank, condo assoc, realty company, and title company all poked into my credit. it dropped my score by 12 points. i complained to the bank about this and they said they knew this happens, but they also said that if all the inquiries are related to buying the home, then the credit score only drops once if the inquiries are within a 30 day period. companies offering you credit cannot get all the way into see your full credit history, so they don't affect your score, unless you choose to accept their offer and they then check the full history with your written permission.(which drops your score again)

Answer 7

it's a LAW that you are entitled to view your credit reports from all three credit bureaus... and you should. I've seen many errors in the reports so pay attention to them. If a creditor cannot verify disputed information, it has to be removed. There is no reason to pay for your credit reports but those 3 bureaus are in a business so watch out for that credit monitoring service and other offers. I prefer to write to the three bureaus and keep copies of all correspondence. It takes time but worth it.

Answer 8

I stay interior of strolling distance of the Pacific Ocean, and that i've got lived right here whilst the alarmists/leftists have been proclaiming worldwide cooling. Over 30 years in the past they began chanting worldwide warming and estimated that the place I stay would have a intense upward thrust in ocean stages, flooding lowlands, that would take place interior of twenty 12 months or much less. That replaced into 25 years in the past and that i'm nonetheless waiting. no longer something has replaced, no longer the sea point, no longer the water temperature. The state climatologist, George Taylor, uncovered the rip-off, and he's a actual scientist, no longer a baby-kisser. The state governor examine Taylor's document, and fired him, or tried to. Taylor wasn't politically astounding. additionally, I studied Earth technology in college as a minor. additionally, i'm no longer new to technology; i've got spent my stay working in technology and technologies. All my friends are scientists or technologists. So, do no longer repeat Al Gore's lies to me. This climate substitute hoax runs alongside leftist political lines, and it somewhat is fed by potential of liars and morons. believe it!

Answer 9

Every time a company checks your credit report/file it will leave a "foot print" on your file, and once other companies/creditors see many foot prints it looks like you are trying to over extend yourself, or you cannot keep up or manage your own current credit standing.

Answer 10

that is a myth...if creditors check your account that does make your score go down. Get a free report here.

https://www.annualcreditreport.com/cra/index.jsp