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If I check my credit score will go against me like an inquiry |
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Date:
September 20, 2007, 9:58 pm |
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If I check my credit score will go against me like an inquiry |
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Answer:
You should distinguish between two types of inquiries actually. If you want to apply for any card and the issuer checks your history - it is one thing. If you just check your score through some online service and so on - it is another situation. When you check your own credit it does not affect your credit score, according to the US fair credit laws. However if other companies pull your credit to decide whether to give you a card or not, then it will influence your score. Thus, each time you apply for a credit card it influences your score. Inquiries on your credit report can indicate your risk as a borrower. Too many inquiries might mean that you're taking on too much debt, and that is a risk for lenders. So, if you want to raise your score you should minimize the amount of inquiries on your credit report and open new accounts only if you need them. However if you have good credit and/or do not apply for too many deals, your score will not be damaged. |
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