We require before and after reports from our clients to confirm that the tradelines purchased reported as promised. Because of this, some of our clients express concern with pulling their credit reports because of a malignant misconception that (any) credit report inquires negatively affect credit scores. Let’s clear this up…
From credit repair experts, to executives at FICO, inc., to any rung on the latter at any of the credit bureaus, everyone would agree that a consumer who pulls his or her own credit report online will have absolutely no credit score impact whatsoever. This is one of those rare questions which can be answered unequivocally. From the horse’s mouth:
The only time your credit score is negatively affected by pulling the credit report (otherwise known as a hard inquiry) is when a lender or insurance provider with a permissible purpose to access your legitimate credit report does so. Again, from the horse’s mouth:
In fact, it’s not just one or two inquiries, but how many inquiries you have overall in context. Typically, your scores are not affected if you have an inquiry that is subsequently accompanied by a new line of credit. It’s usually when you have excessive inquiries and no line of credit, because this tells the credit bureaus lending institutions evaluated your credit and did not give you any type of account. This means two things. First, that you’re excessively looking for credit which is a risk indicator. Second, you were denied by multiple lending institutions, which is another risk indicator.
None of this applies at all to a consumer who pulls his or her own credit report. You absolutely will not be penalized for curiosity and online consumer education reports and scores are not at all considered for lending purposes.
In conclusion, there is no situation in which a consumer’s credit report would be negatively affected by that consumers review of their own credit report online.