I'm in the process of buying a home, and when the mortgage broker checked my credit reports, the one thing which affected all three of them was that they said there had been excessive inquiries into my credit status. This was not from me, because I've never dared to look at my own credit reports. But now that I've looked (and it wasn't at all as bad as I feared), I'm wondering how often I can check my own credit reports without getting dinged for asking too often?
K.C.
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You will NEVER get dinged for YOU checking your own credit reports --- you can check it everyday single day if you wanted and you wouldn't get dinged -- on the other hand if you apply for credit every single day you'll get dinged because you're seeking credit and potential creditors are checking your file! When you check your own credit report it's a soft pull which means that when a creditors look at your file they will not be able to see that you have checked it -- other examples of soft pulls are employment and rental inquiries these are inquiries only you will be able to see not creditors....when a creditor checks your file it is a hard pull and this can effect your score and other potential creditors can view these hard pull inquiries......the way you can tell when viewing your report whether it can be seen by you or the creditors is that there usually on each bureaus report there is a section that says something like "can be viewed by others" (hard inquires) and "not viewed by others" (soft inquiries) so look at your file and see which hard inquiries are hurting you score!
I use to have a credit report monitoring service and checked my credit report almost weekly and didn't get dinged but I must tell you that if you check it more than once in a month like I said you will not get dinged but most likely nothing would have changed since creditors usually update file every 30 days
Anonymous
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RE How often can I check?
I'm in the process of buying a home, and when the mortgage broker checked my credit reports, the one thing which affected all three of them was that they said there had been excessive inquiries into my credit status. This was not from me, because I've never dared to look at my own credit reports. But now that I've looked (and it wasn't at all as bad as I feared), I'm wondering how often I can check my own credit reports without getting dinged for asking too often?
Gibbie
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How often can I check?
I'm in the process of buying a home, and when the mortgage broker checked my credit reports, the one thing which affected all three of them was that they said there had been excessive inquiries into my credit status. This was not from me, because I've never dared to look at my own credit...
Victor
Theirs something called a Hard Inquire. That's when a business checks your report or you sign an application for credit.
The Soft Inquire is you checking your credit report. If your FICO score is 720 and you were to check your credit report through myfico every 10 minutes a day for 20 years your score would still be 720 cause a soft inquire doesnt do anything to your report.
I learned you something.
bdancer222
The only credit inquiries that ding your credit score are inquiries generated by a credit application. When you check your own report it is a soft pull and doesn't count.
AnnualCreditReport.com will give you access to free annual credit report from each credit bureau. Spacing out one bureau every 4 months is usually sufficient to monitor for accuracy.