The saying that you are just a number pretty much holds true when it comes to the world of credit.
As soon as each of us officially takes on the responsibility of having some form of loan or debt, we are all entered into a database that tracks every single credit-related action that can be tracked electronically.
Yes, your every action when it comes to debt payment responsibilities and actions are tracked by credit bureaus and they give you a score that ranges between 300 to 850 points.
This is your credit score.
If you plan to buy a car, a house, land, get a loan, or apply for credit cards, it is of prime importance that you take care of your credit score.
Your credit score helps lenders decide on your level of riskiness or trustworthiness in paying a loan.
Hence, it is important for you to know the truth about how your credit-related activities impact your credit score.
3. Checking your credit score does not lower your credit score.
Contrary to what most people have heard, checking your own credit score does not lower your credit score at all.
If you check your credit from a legit source such as using the credit bureaus themselves, then you won’t get dinged.
However, actions such as applying for a credit card indeed temporarily dings your credit score.
If you want to check your credit score for free, you can contact the top 3 major credit bureaus or use some of the benefits and features provided by some credit cards such as Discover or Chase.
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