
Let’s knock out the easy ones first. If you’re simply checking your own credit, via a free credit report website or via the FTC’s free my free credit report Michigan credit report, your credit score will not go down. These consumer credit reports allow you to see what’s up with your credit history, but pose no harm to my free credit report Michigan you because you’re not actually seeking new credit, at least not right then and there. Think about it, why would you be penalized just for checking your own credit report or score(s)? That wouldn’t make any sense.
Related to that, you have a right to order a free credit report every 12 months from each of the three major credit bureaus (get a free credit report without a credit card). When you order one of these free credit reports, it actually breaks up your credit inquiries into two buckets. These inquiries are the ones that you initiated, typically in order to get some kind of credit, such as a credit card, auto loan/lease, mortgage, cell phone, etc. They appear on your credit report my free credit report Michigan and are visible to other prospective creditors my free credit report Michigan and employers if and when they pull your credit report. Put simply, theyre visible because they affect your credit in one way or another.
Inquiries Shared Only With You The other section youll see is my free credit report Michigan the inquiries that do not hurt your my free credit report Michigan credit, but are visible for you only as a record of activities. credit report free trial For example, if you sign up for Credit Sesame, a free credit score service, inquiries will show up on your credit report my free credit report Michigan each month but wont count against you my free credit report Michigan in any way. It should even say explicitly on the report that the following inquiries do not affect your credit score. Theyre just there to let you know that a company is pulling your records.
Now suppose you already have a my free credit report Michigan credit card open with a company and they want to keep tabs on you. If they do a credit check just to see how things are going in your life, it won’t lower your credit score. The same is true of companies researching your credit profile and subsequently sending you so-called pre-approved or pre-screened offers; it my free credit report Michigan wont hurt your credit score. In all my free credit report Michigan these instances, you did nothing to prompt the credit check, so you won’t be penalized in any way. instant credit report If you apply my free credit report Michigan for a job and your potential employer orders a credit report, it won’t lower my free credit report Michigan your credit score because no new credit is at stake. They simply want to check out your financial background, so again, my free credit report Michigan it wont affect your credit score. Examples include applying for any type of loan, a new credit card, or an increased my free credit report Michigan credit line with an existing card or my free credit report Michigan loan. These are the only instances when a credit check will lower your credit score, as new credit or inquiries for new credit pose new risks, regardless of how great of a borrower you’ve proven to be in the past. Of course, the stronger your credit profile, the my free credit report Michigan less impact these, dare I say, harmful credit checks will have on your credit my free credit report Michigan score. As a rule of thumb, the more credit inquiries you have in a short period of time, the more your score will drop, so exercise moderation. ***You my free credit report Michigan can get all 3 of your credit scores instantly for free via two-week trial to see where you stand, without lowering my free credit report Michigan or hurting your credit score!
Related Topics:How Often to Check Your Credit Report? Credit Inquiries Free Credit Score How can you check your credit score once a year? credit report agencies
The Fair Credit Reporting Act (FCRA) requires each of the nationwide consumer reporting companies Equifax, Experian, and TransUnion to provide you with a free copy of your credit report, at your request, once every 12 months. The FCRA promotes the accuracy my free credit report Michigan and privacy of information in the files of the nations consumer reporting companies. The Federal Trade Commission (FTC), the nations consumer protection agency, enforces the FCRA with respect to consumer reporting companies. A credit report includes information on where you live, how you pay your bills, and whether youve my free credit report Michigan been sued, arrested, or filed for bankruptcy.