credit score
For the past several years I’ve found it VERY important to keep a good credit score. Not only for the obvious of being able to buy something on credit, but I’ve found that potential employers might look at that information too, as well as other establishment, housing, etc. With identity theft so rampant these days, and your credit score being so important for more aspects of our lives than most people know… I do highly recommend you keep tabs on it on a regular basis. I am set up with a site that allows me access to my score and report at any time.
This month, it looks like this:
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Your Current Equifax Score is: 777 |
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| Over time, your score has changed as shown: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
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Ok - I have a question about this.
I too have always prized myself on my credit score, and have worked hard to keep it high (last check: 793); however, I have always heard that it can hurt your credit score to check it too often. Is this no longer true? I see so much advertisement these days for “Check your credit score” websites and my instinct is to stay as far away from those as possible.
What are your thoughts?
BTW, just found your blog. I’ll bookmark it. I’m not very good with keeping up with reading blogs though.
Comment by JenCB — April 13, 2008 @ 9:36 am
Great question, Jen!
Actually, self inquires and current creditors should not affect your score. In fact, just to make sure I am still on top of things I did a quick google today and found these:
Consumers should not be concerned about inquiries they make, such as ordering a credit report. Self inquiries don’t affect the credit score. Neither do inquiries from your existing creditors, potential employers, or businesses considering whether or not to solicit you. The only inquiries that affect credit score are those by new credit grantors who you have explicitly authorized to check your credit.
http://www.mtgprofessor.com/A%20-%20Credit%20Issues/do_inquiries_hurt_your_credit.htm
https://www.mycreditinform.com/gs/english/Faq.asp#No35
http://credit.about.com/od/creditreportfaq/f/viewownreport.htm
That is not to say all those “check your score” sites are good, but these days checking your score often to make sure it’s not been hijacked is probably one of the more important things you can be doing.
Comment by David — April 13, 2008 @ 10:41 am