Question About Frequent Credit Checks


LoanSafe Member
My husband and I have recently moved from one state to another and are staying with friends until we find a place to rent.

I recently heard that each time your credit report is checked by you or someone else that you lose a point on your score. I don't know if this a new thing or has been around for a while or is even true, but, if it is that could be a problem for us. We have just started and don't know how many times it will be looked at by others. Plus, we would like to check it again ourselves, but, don't dare in case we jeopardize ourselves. And, it is just plain weird to me.

One more inquiry on this subject. Is there really a way to check your credit score for FREE? Whenever I have checked it, I always have to pay $1 for it and make sure that I cancel within 7 days so I don't get charged each month for continuous monitoring which I would like to have, but, cannot afford.

Thank you!
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Moe Bedard

Call 1-800-779-4547
Staff member
Loan Safe Mortgage

My understanding is that every time your credit is checked, it may go lower if they are hard credit checks. Unless you have really been shopping heavily for credit (more on that in a moment), they shouldn’t have a huge impact on your credit scores.

There seems to be no hard and fast rules when it comes to credit checks and a lot of vague information out there. But the difference in credit checks is between a hard and soft credit inquiry, and it is the hard inquiry that you will need to worry about. These checks would be for loans and credit cards etc. They can drop your score by more than 5 points at a time.

There is a law called the Fair Credit Reporting Act that will allow you to pull your credit report from all three bureaus at least one time per year.
The three nationwide consumer reporting companies have set up a central website, a toll-free telephone number, and a mailing address through which you can order your free annual report.

To order, visit, call 1-877-322-8228, or complete the Annual Credit Report Request Form and mail it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. The form is on the back of this brochure; or you can print it from Do not contact the three nationwide consumer reporting companies individually.