I check my credit score regularly, to stay updated with my credit health. However, I am wondering if checking my credit score frequently will have any negative impact on my credit score or credit report. Could you please clarify whether regular credit score checks affect my CIBIL score negatively?
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Checking your own credit score does not affect your credit score. As checking your own credit score is considered as soft inquiry which has no impact on your credit score but bank or lender checks your credit report as part of a loan or credit card application that is considered hard inquiry, which may slightly lower your lower your credit score.
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No, checking your own credit does not affect your credit score negatively and thus it will not reduce your credit score.
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no AArav, you’re fine, dont stress about this, your credit score is 3-digit numeric summary of your credit history that indicates your creditworthiness and demonstrates your ability to repay a loan, that’s all.
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No, checking your credit score doesn’t lower it… It is a myth..
So, there are two types of credit enquiries - Soft and Hard..
Soft enquiry is when you check your credit/cibil score by yourself for analysis, understanding your credit. This doesn’t impact your score.
Hard enquiry is when banks/lenders check your score, while you apply for a credit card or loan…this impacts your score.
So, soft enquiry is advised to do, as it will help you in understanding and maintaining your credit, but avoid unnecessary hard enquiries, like don’t apply for so many loans or credit cards.
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No dude, checking it doesnt effect your credit score whatso ever. however if you do notice some credit score fluctuation, its probably because you paid your bills at a different time or missed the due dates of a few payments
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If the credit score check is through a soft enquiry (if you are triggering a credit check through one of the apps that let you monitor regular credit score), there will be no impact on your credit score. However, if the credit check triggers a hard enquiry (if you are checking it as a part of an application for loan or credit card), it will impact the credit score.
Hope this helps..
No, it won’t hurt your score. When you check your own CIBIL, it’s called a soft inquiry and has no effect. Only hard inquiries from banks or lenders during loan or credit card applications can cause a small dip.