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[tilotamma]

It really irks me that you can't check your credit report without lowering your credit score. It doesn't seem right--shouldn't it be a positive that you're keeping an eye on things rather than a negative? I can understand lowering it when credit companies take a look, but why you? It's YOUR credit score

Comments

[red_mage_jerry]

...I thought you got one free check per year, so long as it wasn't attached to an application for credit?

*researches*

[tilotamma]

Free as in, you don't have to pay cash for it, is my understanding. Otherwise all the companies charge you to let you see your credit rating.

Please do let me know if I'm wrong! I hope I am!

[red_mage_jerry]

In general "soft" pulls don't affect your credit. This includes things like having a credit counseling agency check your credit periodically, or having some sort of identity theft protection on your credit report, or a creditor periodically chekcing your credit (usually because of "implied default" provisions, which may become illegal in the near future...most banks have abandoned the practice, but a few, Bank of America most notable, still use this).

What does cause a hit to the score is a credit inquiry attached to a new request for credit.

I still haven't found a firm answer, one way or the other, on whether you, personally, requesting a credit report or credit check for your own (non-loan) purposes, will cause a hit to your credit rating. Still looking....

(I should probably find this out, given that my credit is the *only* reason I'm not currently in DC training to go overseas with the FS....)

[tilotamma]

I've read numerous books which state that every time your credit is checked, it lowers the score (minutely, of course, but still! I'm working on raising it, now lowering it!)

Maybe there are some exceptions. I really hope there are.

[tilotamma]

Oh, that's really cool! I wonder... maybe if you set up the right program it doesn't ding you every time. Or maybe the books I have read all lie. >_<

*confused*

[tilotamma]

Supposedly there's a giant list of things that ding your credit little bits and they're pretty much invisible, as in they don't warn you first. This whole thing seems really shady to me! It's ridiculous that it's so secretive!

[rubberfrog]

that makes no sense from either side; it punishes you for conciously keeping track of your credit as well as being checked?

makes you wonder about those who write policies and where their heads are, if this is true.