credit & debt

Check Your Credit Report

It's a good idea to get copies of your credit reports once a year -- and doing so won't hurt your credit score.

If I request my credit report, will it hurt my credit score?

No. Your request for your own credit information won't affect your score. In fact, it's a good idea to check your credit reports and your score at least once a year to make sure there aren't any errors. You can order a free copy of your report from each of the three credit bureaus (Equifax, Experian and TransUnions) every 12 months at AnnualCreditReport.com.

Your credit report may include a long list of inquiries from yourself, lenders and prospective employers. But the FICO credit score compiled by Fair Isaac only counts inquiries when you actually apply for a loan.

Now that more people shop online for mortgages and car loans, the scorekeepers realize that you might be applying to multiple lenders at one time to compare rates. As a result, the FICO score ignores all mortgage and auto inquiries made in the preceding 30 days. If clusters of inquiries have been made more than 30 days ago, the score counts all inquiries made within one "shopping period" as a single inquiry. For the older version of the FICO score, this period is any 14-day span. A newer version of the score expands the shopping period to 45 days.

For more information about your credit score, see Demystifying Your Credit Score.

Most Popular

Is the Stock Market a House of Cards?
investing

Is the Stock Market a House of Cards?

The stock market volatility we’ve been experiencing and the apparent disconnect with the broader economy have some investors wondering just that. But …
October 12, 2020
Stock Market Holidays in 2020
Markets

Stock Market Holidays in 2020

Is the stock market open today? Take a look at which days the NYSE, Nasdaq and bond markets take off in 2020.
October 12, 2020
7 Small-Cap Tech Stocks That Pack a Punch
tech stocks

7 Small-Cap Tech Stocks That Pack a Punch

Small-cap technology stocks might be a rollercoaster ride to hold, but their oversized upside potential makes them worth exploring.
October 16, 2020

Recommended

High-Tech Aids for Aging in Place
Caregiving

High-Tech Aids for Aging in Place

Apple Watch and other technology provides fast feedback, comfort for older users, and a powerful assist for caregivers.
October 1, 2020
Lending Money to a Friend in Need
Coronavirus and Your Money

Lending Money to a Friend in Need

If you lend money to a friend who has fallen on hard times, don't count on getting it back.
September 29, 2020
10 Things You'll Spend More on in Retirement
retirement

10 Things You'll Spend More on in Retirement

From reading materials to debt, the demands on your savings during your golden years might surprise you.
September 16, 2020
How to Catch a Rock-Bottom Rate
Buying & Leasing a Car

How to Catch a Rock-Bottom Rate

Rates on everything from home mortgages to car loans are at record lows. We’ll tell you how to qualify for the best rates.
August 27, 2020