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Understanding CreditLesson 4 of 8

Lesson 4 · About 7 minutes

Check Your Credit Without Fear

Reading your own credit reports can help you understand what lenders may see, find unfamiliar accounts, and notice information that may be wrong. Checking your own report is a soft inquiry and does not hurt your scores.

Hard and soft inquiries

Soft inquiry

Checking your own report is soft and does not affect your scores. Existing-account reviews and some prescreening may also be soft.

Hard inquiry

A lender may make a hard inquiry after you apply for credit. Most scoring models consider recent applications.

Ask before applying

If you are only asking about rates or terms, ask whether the company will make a hard inquiry before you authorize an application.

Prepare before requesting a report

  • Use a private device and secure internet connection when possible.
  • Have identity information available, but do not share it with anyone offering to “help” unexpectedly.
  • Save or print the report securely.
  • Review one report at a time if all three feels overwhelming.

Knowledge check

Try three quick questions

This is practice, not a test. Answer every question, then review the lesson takeaway.

1. Does checking your own credit report lower your credit score?
2. Which website is federally authorized for free reports from the three nationwide companies?
3. When may a hard inquiry occur?