Fake News number two, checking your credit hurts your credit score's fact is the checking your own credit reports and scores does not affect your scores. A credit check could hurt you if you ask a friend at a bank or car dealership to pull your credit reports. Such transactions probably would be quoted as hard inquiries, or as applications for credit, which could ding your scores. But checking your own credit is otherwise a non event. This persistent myth is particularly destructive, because it discourages people from knowing what's going on with the credit reports and scores. Many reports contain serious errors that result in you're being turned down for a loan or paying a much higher interest rate than you deserve.

You need to visit annual credit report comm at least once a year to view your free credit report. From the three bureaus and dispute any serious errors, or any errors for, you know, for that matter if you'll be in the market for a major loan, such as a mortgage or an auto loan, you'd be smart to buy your FICO scores from my FICO comm to see how lenders are likely to view your application and get tips for improving your scores.