Guide for a Credit Score Check
Your credit score is reflected by how you pay your loans once you borrow them. If you are obedient when it comes to paying the loans, you will have a positive credit score and if you do not pay as expected you will have a negative score. A loan is something that almost every person has borrowed if not all at one time and it is something that will help one to accomplish their objectives. You need to read this article to understand more about credit score check.
Learning types of credit score check. It is good that you know about your credit check since it will determine whether lenders will trust you with their money or not. You should know that checking a credit score can either come as a soft inquiry or hard inquiry. If you have a soft score inquiry, you will not lower your credit score but your hard score inquiry can lower credit score. You should know that hard inquiry is done by the bank or rather lender when they are checking if you are legible for the loan but the soft inquiry is when you do your own checking of the credit score.
Hard inquiry versus soft inquiry. When it comes to hard inquiries, you only check your loan with a lender when he or she wants to see if you are a person that he or she can trust and give the loan but in the case of soft inquiry, you are not checking your credit score so that you take a loan but it can be for other purposes. You should know that the more you have a hard inquiry the more you lower your credit score so that is the reason you are advised not to ask for many loans within a short period.
How to go about credit score checking. As already discussed that having numerous hard inquiry lowers your credit score, it is important that you avoid that and you need to check your credit score at least once a month if you must do it so that you will not have too many negative impacts. The soft inquiry, however, has no negative impacts on the credit score so you can check your credit score without worrying any time you want.
When you want to see if you have had some pints on your credit score, you have to check so long as you are not doing this for the purposes of loan application since it is good to know how you are ranked by the lenders.