One of the common questions people ask on the internet is about free credit score check. They want to know if they can check it for free and how that affects their score. The first answer is a simple yes. You can check your credit score for free if you are at the right platform. The more important question is why you should check it in the first place. A lot of the people are scared to check the score because they are under the impression that it hurts the score negatively. Read on to know more about this and why you should be checking your score often for free.
Reasons to Check the Free Credit Score Frequently
Because It Does Not Cost You Anything
The first thing that should makes checking the score a frequent activity is the cost. As stated in the title, it is a free credit score check. You don’t have to pay anything to check your credit score. You first have to find a website that lets you check the credit score for free. Typing free credit score in your search engine will yield hundreds of results of platforms that let you pull your credit score free from the three major credit bureaus. They say there is nothing for free in this world but you can be sure that checking your credit is completely free.
What you have to stay away from though is a website asking for a fee to give you your credit score. Believe it or not, there are websites that are making money from people in this way. Don’t pay anyone for this service when you have it available for free from so many resources.
Because It Does Not Hurt Your Credit Score
People are often concerned about hurting their credit score when they use the free credit score checking service. They are under the impression that anytime someone checks the credit score it appears on the record and serves as a negative sign. That’s where you have to understand the difference between free credit score check which appears as a soft inquiry on your record and the hard inquiry. A soft inquiry into the credit score is often made by the owner him/herself to be up-to-date with the score. In some cases, it is used for checking the credit background by other entities.
The credit check will not hurt your rating unless it is a hard inquiry. A hard inquiry is one that’s made by a financial institution to check your background before forwarding you the loan. This is the type of inquiry that can leave you with a scar on your credit score.
Because It Helps You Prevent Negative Points
It is best if you wrap your head around how the credit score works. It is a combination of several components with each component making a percentage of it. Some components weigh more than the others. There are certain factors that the loan forwarding entity will check before serving you with the desired loan. However, going to multiple places to get the loan means you will have multiple hard inquiries on your credit score. Eventually, you will take a big hit on your score if you continue to shop and get rejected by the financial institutions. How can you avoid this situation?
The best way to avoid this situation is to know about your credit score yourself. Once you know the strength and weaknesses of your credit history, you can decide whether to approach any loan providers or not. Rather than letting them make multiple hard inquiries into your credit score, it is best that you make a few soft ones without hurting the credit score. With free credit score checking services online, it is only a matter of minutes to send the request to get your credit report.
Because You Can Work on the Right Things
As stated above, your credit score is a combination of many different factors. You won’t know what is hurting your score unless you know about those factors. A free credit score check will give you a quick look into what is affecting your score negatively. Some people think that all that matters on their credit score is their overall credit history. If you have borrowing loans and paying them back, it should be enough. While it is a major part of your credit score, this is not the only thing that matters. There are many other factors such as your credit utilization.
You might be paying your loans back on time but why you are borrowing so much in the first place? If you are borrowing a huge percentage of the amount that’s available to you as credit, you are not leaving a positive impact on your credit score. You should utilize the credit you have available but within certain limits. So, an overview of your free credit score should give you some idea what areas you should be working on. Of course, it will not be a very detailed report to open every single detail to you. However, if you look closely you will find enough information to help you improve your credit score. While it is quite a challenging task, some people do take it upon themselves to improve their credit score on their own.
It might be difficult but it is not impossible. If some people can do it, more people can do it too.
So, free credit score check is something you should consider a blessing. It would be quite discomforting to not have any idea of where you stand in terms of your credit score. It can be even more strange when you have to pay someone to check something that belongs to you. Will you pay your bank to just know the balance in your account? Therefore, it makes sense to use the online resources for free credit score check. They are easily available and financial experts recommend people to check their credit scores often to be in the know of things.