I am often asked this question, if you sign up for credit report monitoring if that will have a negative effect on your credit score. The answer is no, it will not. There are two types of inquiry’s on your credit report. Hard and Soft.
Hard inquiry’s are the type that will have a negative effect on your credit score. These are the types of inquiry’s that come when you apply for credit, or someone other than you pulls your credit. These types of inquiry’s will have a slight negative effect for a few months.
A soft inquiry is when you request to pull your own credit, this is the type that is done when you sign up for credit report monitoring. These have no effect at all on your credit, and you are free to check up on yourself as often as you would like. This is one of the great benefits of sign up for a credit report monitoring company, as you know who is looking at your credit. You will be notified within 24 hours anytime there is a change to your personal credit report!
Thanks for your questions! And keep them coming.
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