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Checking your credit report

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Checking your credit report

Contrary to popular belief, checking your own credit report will not decrease your credit score.

When it comes to credit reports and credit scores, there are both “hard pulls” and “soft pulls.” Checking your own credit report and/or score is known as a “soft pull.” The credit reporting agencies know this and do not allow these inquiries to affect your credit score.

“Hard pulls,” on the other hand, can affect your credit score. It is considered a “hard pull” when a bank, lender or other financial institution pulls your credit report to determine whether or not they are willing to approve you for that new loan or line of credit.

So, while it is true that having your credit report pulled too often can negatively affect your credit score. But this only applies when you are applying for credit and a financial institution accesses your credit report.

Checking your own credit report, on the other hand, will not lower your credit score. The only affect that checking your own report may have on your score is a positive one. If you happen to spot an inaccuracy in the report and take the appropriate action to correct it, your credit score may actually increase.

Recommended reading: Don’t pay for your credit report



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