Myth: Checking My Own Credit Report Lowers My Credit Score

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Is it true that checking my own credit report will lower my credit score?

Myth: Checking My Own Credit Report Lowers My Credit Score

Fact: You should plan to check your credit report at least once every three months. You can receive paid copies by ordering directly through one or more of the big three credit bureaus. If you've been denied credit, you can receive a free copy from the bureau upon which the lender based its decision. Federal law also entitles you to one free copy per year from each of the big three credit bureaus. For more information, visit www.annualcreditreport.com. According to the Fair Credit Reporting Act, you may also qualify to receive a free credit report if: (1) you are unemployed and plan to look for a job within the coming 60 days, (2) you are receiving welfare, or (3) your credit report is inaccurate because you are the victim of fraud or identity theft, 4) or if the state where you live allows for free credit reports each year.

   

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