What is the difference between ""soft inquires"" and ""hard inquiries"" when checking your credit score on your credit report?
Has a family member or close friend recently told you this: ""Your score will drop if you check your credit""!
Fortunately, this is definitely not true. Checking your own report and score is counted as a ""soft inquiry"" and doesn't harm your credit at all. Only ""hard inquiries"" from a lender or creditor, made when you apply for credit, can bring your credit score down a few points. Worried about damaging your credit while shopping around for a loan? Multiple inquiries for the same purpose within a short amount of time (a few weeks) are grouped together into a less damaging period of inquiry.
Get your credit report and score NOW!
Recent Comments