Will Checking Your Credit Score Lower It?

A credit inquiry is a record that someone reviewed your credit report, which contains your personal information and extensive details about your credit history. A credit inquiry is logged any time you, a lender, or an employer accesses your file to assess your creditworthiness or verify information. It's not a judgment on your financial behavior.

There are two types of inquiries—soft inquiries and hard inquiries—and they play distinct roles in credit scoring. While soft inquiries do not affect scores, hard inquiries can have a small, temporary effect because they signal that you’re seeking new credit and involve a more detailed review of your profile.

Here’s a look at how they compare:

Soft inquiries will never affect your credit score. While they can remain on your credit report for up to 24 months, only you can see them.

A soft inquiry occurs when:

• You check your own credit
• Receive a preapproved financing, credit, or insurance offer
• Undergo certain employer or insurance checks

FYI: BHG Financial’s prequalification process uses only a soft inquiry, so you can explore your personal loan eligibility and potential terms without any impact to your credit score.¹ A hard inquiry is only made if you are approved and accept the funding terms.

Creditors will request a hard inquiry when you apply for a personal loan, credit card, mortgage, auto loan, or other types of new credit. Hard inquiries are also common for credit limit increase requests and lease applications, including those for apartments.

While hard inquiries impact your score, the effect tends to be short-lived and diminishes over time. According to myFICO, hard inquiries typically lower your credit score by fewer than five points, and inquiries make up a minor part (10%) of your FICO Score. However, the impact can be slightly greater if you have a thinner credit file or a limited credit history.

When do hard inquiries fall off your credit report?

Hard inquiries remain on your credit report for up to two years, but many FICO scoring models only consider inquiries within the last 12 months. After that first year, the inquiry record may still appear on your report for transparency, yet it typically no longer influences your score.

Checking your own credit score helps you better understand your financial health. Many people use credit management platforms (like Credit Karma) or official credit bureaus (Equifax, Experian, and TransUnion) to check their credit and safely monitor progress. These “self-checks” don’t lower your credit score because it only involves a soft credit inquiry.

Checking your own credit report and score regularly is a smart way to spot errors or signs of fraud early. If these issues go undetected, they could both hurt your score and cause other financial damage, making it harder to get future credit approvals.

Plus, checking your own credit helps you better understand what financial habits or problem areas you should work on. In fact, consumers who check their credit scores regularly tend to see the most improvement over time.

FYI: Review your credit reports carefully and dispute any inaccuracies that might be dragging down your score. A Consumer Reports study found that 27% of Americans have significant errors on their credit reports that could affect their creditworthiness.

How to check your credit score and credit reports

You can review your credit score and reports as often as you’d like with no credit impact.

The three nationwide credit bureaus (Experian, Equifax, and TransUnion) currently offer free weekly online credit reports through AnnualCreditReport.com. After providing basic personal information and answering identity questions, you can review your credit reports to look for potential errors or fraud to report to the bureaus.

To access your credit scores, you can choose from multiple free and paid options, such as:

• Credit score monitoring services through TransUnion, Equifax, and Experian
• Third-party credit monitoring or identity theft monitoring services
• Online credit score trackers offered through an existing bank or lender
• Nonprofit credit counseling services

Besides offering regular credit score updates, these tools usually allow you to set up notifications. For example, you can find out when your score changes or when a new account appears on your credit report. Plus, you may have access to a simulator and personal tips on how you can improve your credit score.

Once you’re ready to apply for new credit, these smart planning steps can minimize the impact of hard inquiries on your credit score:

• Prequalify first: With major lenders like BHG Financial, the prequalification process involves a soft credit check, allowing you to see if you’re eligible and preview options without affecting your score.¹ Whenever possible, do this step first so you know what to expect and are better prepared for the official application.
• Leverage the rate-shopping window: When comparing loan offers, applying within a short time frame (14 to 45 days) can help limit the impact on your credit score, since credit scoring models often group multiple inquiries for the same type of loan together. This approach typically applies to installment loans like mortgages, auto loans, or personal loans—but not credit cards—so spacing out credit card applications is still important to avoid unnecessary score drops.
• Avoid clustering other hard inquiries: For credit cards and loans not covered under the rate-shopping exception, submitting several credit applications in quick succession can add multiple hard inquiries and signal higher risk. Even allowing a few months between applications can give your credit score time to recover.
• Dispute unfamiliar hard inquiries: If you don’t recognize a hard inquiry on your credit report, contact the creditor and the bureau to dispute it promptly. The Federal Trade Commission offers a thorough guide for disputing credit report errors.

If you’re considering a personal loan to consolidate debt, make a major purchase, or improve your cash flow, an unsecured personal loan from BHG Financial may be the right solution. We offer loan amounts of up to $250,000² to qualified borrowers, with flexible terms of up to 10^2,3 years, fixed interest rates, and budget-friendly monthly payments.

Our easy prequalification process requires only basic information and does not impact your credit score.¹ You’ll get a personalized estimate in seconds,⁴ allowing you to shop confidently and understand your financing options. There’s no obligation to proceed unless you’re ready.

Ready to learn more? Explore BHG Financial’s personal loan options today.

Will checking my credit score lower it?

Since checking your own credit score is a soft inquiry, it won't affect your credit score. It also won’t be visible to creditors who review your credit report.

What is the difference between a soft and hard inquiry?

Soft inquiries are for informational or prequalification purposes and don’t affect your score. Hard inquiries occur when you officially apply for credit and may cause a small, temporary drop. Both show up on your credit reports, but lenders can only see hard inquiries.

How much does a hard inquiry lower my credit score?

For most people, a hard inquiry results in a drop of less than 5 points, and the impact fades over time. Taking advantage of the 14- to 45-day rate-shopping window for certain loans can help minimize the impact of multiple hard inquiries.