Checking your credit score often doesn't affect it but here's what you should keep in mind
If you check your own credit score, also known as a soft inquiry, it usually doesn’t harm credit score.
Soft inquiries are usually made when you check your own credit score, when a lender preapproves you for a credit offer, or when a company checks your credit for promotional purposes.
On the other hand, “hard inquiries" occur when a lender checks your credit report as part of their decision-making process for a credit application you have made.
Hard inquiries can have a minor negative impact on your credit score, usually just a few points, and this effect typically diminishes over time.
Therefore, checking your credit score too often, especially if you’re using a service that utilises soft inquiries, shouldn’t hurt your credit score.
It’s important to regularly monitor your credit report for accuracy and to stay informed about your credit standing.
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However, you should be cautious about applying for credit too frequently, as multiple hard inquiries within a short period could potentially raise red flags to lenders.
It's recommended to keep track of your credit score regularly to stay informed about your creditworthiness and address any discrepancies or issues that may arise.
A short answer is, it does not. In fact, it is advisable to keep checking the score from time to time for accuracy.
It entails checking your own credit score. This doesn't impact your credit score in any way.
When a lender checks your report while evaluating its decision to extend loan, it is known as a hard inquiry.
Credit score is a more generic term that refers to a numeric representation of an individual's creditworthiness. CIBIL score specifically refers to the credit score
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