Does Checking Your Credit Score Lower It
It’s a common fear: you want to check your credit score, but you’re worried the simple act of looking will make it drop. The short answer is no, checking your own credit score does not lower it. This guide will walk you through why that is, explaining the crucial difference between a "soft inquiry" and a "hard inquiry." We’ll show you several safe, free ways to check your credit score and reports so you can stay on top of your financial health without any negative impact.
Fast Answer
- Checking Your Own Score: No, this is a "soft inquiry" and has zero impact on your score.
- Applying for New Credit: Yes, this is a "hard inquiry" and can cause a temporary dip in your score.
Before You Start
- Personal Information: You will need your full legal name, current address, date of birth, and Social Security Number to verify your identity.
- Secure Internet Connection: Always check your credit information on a private, password-protected Wi-Fi network, not public Wi-Fi.
- List of Past Addresses: Some identity verification questions may ask about previous addresses or loan amounts to confirm it's really you.
Step-by-Step Instructions
Step 1: Understand the Two Types of Credit Inquiries
The entire answer to "does checking your credit score lower it" comes down to one key difference: soft inquiries versus hard inquiries. Think of it like a background check for your financial life. One is a casual glance you do yourself, and the other is a formal investigation by a potential lender.
A soft inquiry (or "soft pull") happens when you check your own credit. It also occurs when a company checks your credit to send you a pre-approved offer for a credit card or loan, or when a potential employer runs a background check. These are like a sneak peek. They are only visible to you on your credit report and have zero effect on your credit score. You can check your score every single day through a soft inquiry, and it will not drop a single point because of it.
A hard inquiry (or "hard pull") happens when a financial institution checks your credit history because you have applied for new credit. This includes applying for a mortgage, an auto loan, a new credit card, or a personal loan. A hard inquiry signals to lenders that you are seeking new debt, which can be seen as a risk factor. For this reason, a single hard inquiry can cause your score to dip temporarily, usually by less than five points. Too many hard inquiries in a short period can have a bigger impact.
Step 2: Use a Free Credit Monitoring Service
One of the easiest ways to keep an eye on your credit is through a free credit monitoring service. Companies like Credit Karma, Experian (free service), or Credit Sesame provide regular access to your credit score and report information at no cost. These services make money through advertising and recommending financial products, but you are not obligated to use them.
When you sign up, you'll provide your personal information to verify your identity. Once set up, you can log in anytime to see your score, which is updated frequently (often weekly). All checks performed through these services are soft inquiries. They provide a safe environment to watch your score change over time and learn about the factors that influence it, such as your payment history and credit utilization.
Step 3: Check Your Score Through Your Bank or Credit Card Company
Many major banks and credit card issuers now offer free credit score access as a perk for their customers. This is a fantastic and secure way to see your score, often the same FICO score that lenders actually use.
To find it, log into your online banking portal or credit card account online or through their mobile app. Look for a section often labeled "Credit Score," "Financial Wellness Tools," or something similar. It's usually prominently displayed on your account dashboard. Companies like Discover, Capital One, Bank of America, and Chase are well-known for providing this feature. Just like with monitoring services, checking your score this way is always a soft inquiry and will not hurt your credit.
Step 4: Request Your Free Annual Credit Reports
By federal law, you are entitled to a free copy of your credit report from each of the three major credit bureaus—Equifax, Experian, and TransUnion—every 12 months. The official, secure place to get these is AnnualCreditReport.com. Due to policies enacted during the pandemic, you can currently get free reports weekly from all three bureaus through this site.
It's important to understand the difference between a credit report and a credit score. Your report is a detailed history of your credit activity, like a transcript. Your score is the three-digit number that summarizes this history, like a GPA. While the reports from AnnualCreditReport.com don't always include your score for free, some bureaus may offer it as part of the package. Regardless, reviewing the full report is crucial for spotting errors or fraudulent activity. Requesting your own report is a soft inquiry.
Step 5: Review Your Report for Accuracy and Dispute Errors
Once you have access to your credit score and report, don't just glance at the number. Take a few minutes to read through the details. You are looking for any information that doesn't seem right. Check your personal information, the list of open accounts, payment history, and any listed hard inquiries.
Look for common errors like:
- Accounts that you never opened (a sign of identity theft).
- Payments marked as late when you paid on time.
- Incorrect credit limits or account balances.
- Negative information, like a bankruptcy, that is too old to be listed (most negative items fall off after 7 years).
If you find an error, you have the right to dispute it with the credit bureau. Each bureau (Equifax, Experian, TransUnion) has a clear process for filing a dispute online, by phone, or by mail. They are required to investigate your claim and correct any inaccurate information, which can often lead to an improvement in your credit score.
Quick Reference: Soft vs. Hard Inquiries
| Situation | Type of Inquiry | Impact on Credit Score |
|---|---|---|
| You check your own score on a credit monitoring app. | Soft Inquiry | None |
| You apply for a new credit card. | Hard Inquiry | Can cause a small, temporary dip. |
| Your bank shows you your FICO score on your statement. | Soft Inquiry | None |
| You apply for a mortgage or auto loan. | Hard Inquiry | Can cause a small, temporary dip. |
| A potential landlord checks your credit with your permission. | Hard Inquiry | Can cause a small, temporary dip. |
| A credit card company sends you a "pre-approved" offer. | Soft Inquiry | None |
Common Problems When You Check Your Credit
Navigating the world of credit scores can sometimes bring up confusing situations. Here are a few common issues and how to handle them.
Problem: My credit score is different on different websites!
This is very common and completely normal. There are two main reasons for this. First, there are multiple credit scoring models, with the two most popular being FICO and VantageScore. Your bank might show you a FICO score while a free monitoring app shows you a VantageScore. They use slightly different formulas, so the numbers will vary. Second, the information on your credit reports at Equifax, Experian, and TransUnion might not be identical. A score is calculated from a report, so if the reports differ, the scores will too.
Problem: I found an error on my credit report. What now?
You have the right to a fair and accurate credit report. If you find something that's wrong, you should dispute it immediately. You can start the dispute process directly on the websites of Equifax, Experian, and TransUnion. You'll need to explain what is wrong and provide any proof you may have. The bureau generally has 30 days to investigate and resolve your claim.
Problem: A website is asking me to enter credit card info for my "free" score.
This is a major red flag. While some services offer premium credit monitoring for a fee, you should never have to pay for your federally mandated free annual reports or to simply view your score through many free services. Be cautious of "free trial" offers that automatically convert to a paid subscription. Stick to the truly free methods offered by your bank, reputable monitoring apps, and AnnualCreditReport.com.
Advanced Tips for Monitoring Your Credit
Once you're comfortable checking your score, you can use these advanced tips to make your credit monitoring even more powerful.
- Set Up Credit Alerts: Most monitoring services allow you to set up email or push notifications. Enable alerts for new inquiries, new accounts opened in your name, or large changes in your credit balance. This is one of the fastest ways to detect potential identity theft.
- Understand Rate Shopping for Loans: If you're shopping for a major loan like a mortgage or car loan, you'll want to get quotes from multiple lenders. Scoring models understand this behavior. Multiple hard inquiries for the same type of loan made within a short period (typically 14-45 days) are treated as a single inquiry to minimize the impact on your score.
- Focus on Trends, Not Daily Ticks: Your credit score can fluctuate slightly all the time as account balances and other factors change. Don't panic over a two-point drop. The most important thing is the long-term trend. Are you paying bills on time and keeping balances low? If so, your score will generally trend upward over time.
Does Checking Your Credit Score Lower It FAQ
How many points does a hard inquiry lower your score?
Typically, a single hard inquiry will lower your credit score by less than five points. For people with long credit histories and high scores, the impact may be even smaller or nonexistent. The effect also lessens over time.
How long do hard inquiries stay on your credit report?
A hard inquiry remains listed on your credit report for two years. However, its impact on your credit score usually disappears much sooner, often after just a few months, and FICO scores only consider inquiries from the last 12 months in their calculation.
Will checking my partner's or family member's score hurt my credit?
No. Your credit report and score are tied to your personal identity and Social Security Number. You cannot check another person's score, and their financial activities (unless you are a joint account holder) do not directly impact your credit.
Does getting pre-approved offers in the mail hurt my score?
No. When companies send you pre-approved or pre-qualified offers for credit cards and loans, they are using a soft inquiry to check if you meet their basic criteria. This has no impact on your score. A hard inquiry only happens if you decide to act on the offer and formally apply.
Final Checklist for Checking Your Credit Score
- Confirm Your Purpose: Are you checking for your own knowledge (soft pull) or applying for a loan (hard pull)?
- Use a Secure Source: You've chosen a reputable method like your bank, a free monitoring service, or AnnualCreditReport.com.
- Protect Your Information: You are on a private, secure internet connection before entering any personal data.
- Review Your Full Report: You've looked beyond the three-digit score to check your report for errors or signs of fraud.
- Understand the Outcome: You know that checking your own score is a positive financial habit that does not lower it, and you feel empowered to do it regularly.