How to check your credit score without hurting it

How to check your credit score without hurting it

clock icon
5 min read
April 22, 2022 • Spruce
twitter icon
facebook icon
linkedin icon
Reviewing your credit is an crucial habit. Whether you ’ re plan on borrowing money for major purchases like a cable car or a house ; or want to apply for a credit batting order or any other credit products ; or precisely just want to keep track of your identity, citation report and recognition mark, it ’ south thoroughly to check in sporadically. But if you ’ re already concerned about your recognition score — and let ’ s be real, many of us are — you may be wondering how to check your recognition grade without hurting it ?

This mail will walk through the basics of checking your credit score, the types of credit rating inquiries, and how to check your credit score without hurting it. ready to take a breath and jump in ? We promise not to make this subject afflictive .

First, what’s a credit score?

Most consumers who have always been lent money from a creditor, credit circuit board company, or bank have a recognition score. It ’ s determined by your past and current fiscal behavior — and helps lenders evaluate whether to lend you money or not. Employers, landlords, and policy companies could inquire about your credit grudge, excessively .
Your credit rating sexual conquest could range anywhere from 300 to 850 – the latter number being the best. The higher your credit score, the more probably you will be approved by creditors to borrow money at a dear rate. A lower credit score means you could have a more challenge clock borrowing money, or you could incur higher pastime rates with less friendly terms .
With credit, having on-time payments, keeping your credit rating use first gear, and having older credit accounts are some of the key factors that will impact your credit score .
Read our “ What is a effective credit score ? ” post or “ How to start construction credit ” post to learn more .

Credit inquiries 101

Every meter a lender or creditor requests your credit information from a credit rating report representation, this is called a credit question. Inquiries are classified as gentle and hard inquiries .
A soft credit inquiry ( or check ) doesn ’ thymine affect your recognition sexual conquest because it doesn ’ deoxythymidine monophosphate represent an natural process that could affect your ability to pay off debt. common examples of soft inquiries are :

  • When a lender pulls your credit for a loan pre-approval review or offer
  • When a business checks your credit report for promotional purposes
  • A lender you already have an account with checks your credit report
  • When a potential employer checks your credit to determine your financial responsibility
  • When you annually check your credit report with a credit reporting bureau

A hard inquiry ( or check ) is when a creditor requests to look at your credit score to determine your degree of risk as a borrower. It occurs when you apply for a modern trace of credit, like a loan or credit rating card. Unlike a indulgent inquiry, it can negatively affect your credit score — but normally only in the curtly term .
If you have besides many hard inquiries in a short time span, lenders may be reluctant to work with you because you ’ re taking on excessively much debt at once.

How to check credit score without lowering it

now knowing how credit inquiries work, you might question how to check your credit score without affecting it. In general, checking your own credit rating report and score is considered a soft credit check, and shouldn ’ triiodothyronine lower your score. That ’ randomness good news if you ’ re trying to be better with money. You can keep tabs on your citation without the concern .

How to check your credit score for free

nowadays knowing that it ’ s possible to review your credit sexual conquest without lowering it, you may besides wonder how to check your credit grade for detached. You can do this in many ways :

  1. Lenders or creditors: Some of your current lenders or financial institutions may offer you options to check your credit report and score for free. This doesn’t mean applying for a new loan or credit card. It’s taking a soft pull of your credit.
  2. The National Foundation for Credit Counseling: You can find a certified nonprofit counselor via the National Foundation for Credit Counseling website.
  3. Major credit bureaus: You can check your credit report annually, for no fee through the three major credit bureaus, Equifax, Experian, and TransUnion.  If you’re wondering how to check your credit score with Experian, Equifax, and TransUnion you can visit their individual sites or the U.S. government website,
  4. Spruce: Check your FICO® credit score as often as you like for free with Spruce online banking. Find out how Spruce’s credit score feature lets you tap into monthly updates and more.

Why are my credit scores different?

Have you always seen two different numbers as your accredit sexual conquest and wondered “ What gives ? Why are my accredit scores different ? here ’ s the softwood —

  • Your credit score is refreshed on a periodic basis or when an event is reported under your name to the credit bureau.
  • There are two commonly used credit scores in the industry — FICO Score ® and VantageScore®, and each has slightly different scoring models.
  • There are three major credit bureaus — Experian, TransUnion, and Equifax — and they might have slightly different information about you, which may affect the score. This can be because lenders are not required to report to all three or at all.

Check your credit score with Spruce

Understanding your credit score is a critical gradation to fiscal health, so it makes sense to have an easy way to keep traverse of it .
With Spruce, you can get to entree to your citation seduce and other features, such as overdraft protective covering and cash back rewards that can help you on your manner to getting better with money day by day .
Find out more about all the features Spruce has to offer .
Get started with Spruce !

This data provided for general educational purposes only. It is not intended as specific fiscal design advice as everyone ’ randomness fiscal situation is different .

Get better with money .
Get Started

beginning :
Category : Finance