Checking your credit score does not negatively impact your credit score. When you review your own score, it is categorized as a “soft inquiry,” which leaves your credit report unchanged. Understanding this distinction is crucial for consumers who want to…
Checking your credit does not negatively affect your score when you do so through a soft inquiry. Understanding the distinction between soft and hard inquiries is essential for managing your credit responsibly. This article will clarify these differences, explain how…
Background checks typically do not affect your credit score since they usually involve checking your criminal history or employment record rather than your credit report. However, understanding the nuances of background checks and credit inquiries is important for your financial…
The good news is that a soft inquiry does not impact your credit score. Soft inquiries occur when you check your own credit report or when a lender conducts a credit check for pre-approval purposes, and these inquiries are not…
Understanding why hard inquiries affect your credit score is essential for managing your financial health. Hard inquiries, which occur when a lender checks your credit report for lending decisions, can temporarily lower your score. These inquiries signal to potential lenders…
Yes, medical debts can affect your credit score, but the impact varies based on how the debts are reported and managed. Unlike traditional debts, medical debts are often treated differently within credit scoring models, meaning they may not immediately hurt…
Understanding how collections affect your credit score is crucial for maintaining good financial health. Collections can significantly lower your credit score, depending on various factors such as the amount owed and how long the debt has been in collections. In…
Declaring bankruptcy can significantly impact your credit score, typically lasting for 7 to 10 years, depending on the type of bankruptcy filed. This period can be daunting for those who have taken this step to alleviate financial distress, but understanding…
Medical debt does affect your credit score, but the extent and manner of this impact can vary. Understanding how medical debt interacts with your credit report is crucial for managing your financial health. While many people may assume that any…
A 7-day late payment can indeed affect your credit score, although the impact is typically less severe than that of a 30-day late payment. Understanding the intricacies of how late payments are reported and their implications for your credit profile…
The presence of a collection account can significantly lower your credit score, with potential drops ranging from 50 to 100 points or more, depending on your overall credit history. Understanding how collections affect your credit score is crucial for managing…
A security freeze does not directly impact your credit score. When you place a security freeze on your credit report, it restricts access to your credit file for lenders and identity thieves but does not alter your score itself. In…