Does Checking Your Credit Score Lower It?

This episode clarifies the persistent myth that personal credit monitoring negatively impacts a consumer's credit score. It distinguishes between soft inquiries, which result from personal checks and have no effect on scores, and hard inquiries, which occur during formal loan applications and may cause minor, temporary decreases. The author explains the five primary factors of credit scoring, highlighting that new inquiries represent only a small portion of the overall calculation. By encouraging regular reviews, the source emphasizes how monitoring helps detect fraud, identify reporting errors, and track financial progress. Ultimately, the episode advocates for proactive credit management as a responsible habit that fosters long-term financial health rather than harming it.“Beware of little expenses; a small leak will sink a great ship.”~Benjamin Franklin~This episode includes AI-generated content.