I know its supposedly a credit myth that checking your own score and report hurts you, but lets say for whatever reason you want to check it everyday through a monthly service that offers unlimited checking for a monthly fee. Could this be a problem?
2007-09-01 10:16:37 · 8 answers · asked by kamui r 1 in Business & Finance ➔ Credit
It will not make any difference if you check it 100-times a day.
2007-09-01 10:32:29 · answer #1 · answered by ? 7 · 0⤊ 0⤋
It is a myth. Checking your own credit is a "soft pull" and therefor does not affect your credit. If you were to apply for credit everyday and have your credit pulled, that would reduce your credit score 5-10 points every time your credit was pulled.
Feel free to pay a monthly service and check it daily if you wish! More power to ya!
2007-09-01 11:43:06 · answer #2 · answered by Anonymous · 0⤊ 0⤋
If you were the lender and you were to check your credit to approve you for a loan, you would see all these hits on your report indicating possibly, that you were out there getting alot of credit cards or purchasing alot of things. See why it isn't a good thing to check that often. Once maybe twice a year at most. These online companies only want your monthly fee, they don't care what it causes to your credit rating. It's a waste of your money.
2007-09-01 11:37:32 · answer #3 · answered by Alterfemego 7 · 0⤊ 1⤋
its called a soft inquiry and it doesn't affect your credit score, only when you try to get credit cards or store credit and loans, those are called hard inquiries and depending on your score if its in the 720's or better then no it doesn't affect it as much as if your score is 640 or lower... Matter of fact if you did sign for the credit monitoring then make sure you read all the information they provide for you in your report it is very helpful in providing you with insight on rebuilding your score and also check out credit secrets bible i found it on amazon.com very very enlightening.
2007-09-01 10:43:18 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Makes no difference except you wasted money on that monitoring service and need to find something else to do rather than obsessing over your credit score.
2007-09-01 10:41:44 · answer #5 · answered by bdancer222 7 · 0⤊ 0⤋
You checking your own reports and/or score does not affect your score.
2007-09-01 10:22:18 · answer #6 · answered by mister_galager 5 · 0⤊ 0⤋
no need, i pay my bills on time and still have green left over
2007-09-01 11:20:54 · answer #7 · answered by Snoop Dogg 1 · 0⤊ 0⤋
you can check it anytime you want to...it will not hurt it.
2007-09-03 08:29:01 · answer #8 · answered by kelliejoq 2 · 0⤊ 0⤋