The words “credit score” invoke a sense of fear in most who hear it. It’s comparable to hearing “Voldemort”. People are scared of credit. Most people are even scared just to check their score because they believe that will lower it.
This is a complete myth. Checking your credit score online will NOT affect your credit score.
Whenever your credit score gets checked there are two types of inquiries or “pulls”: hard and soft. A hard inquiry will shave off a few points of your score whereas a soft inquiry will not. How so?
When a business or lender pulls a copy of your credit report to follow up on an individual’s application for credit, it results in a hard inquiry.
This inquiry will show up on your report for the following next two years.
Soft inquiries occur when you check your own credit, or when a person/company checks your credit report during a background check for potential employment. This does not result in a loss of points and is actually encouraged, as it may help you determine if anything is amiss (missing points may indicate fraud) and will keep you consistently updated.