Will my credit score go down if I request my own credit report?

Q: I have heard that credit inquiries can hurt your creditThere are a few exceptions to the multiple credit
score. If I get my own credit report, will that affect myinquiry scenario. Credit inquiries for services such as
score?insurance do not affect your score. Also, if you are
A: As a consumer, you have the right by law toshopping for a mortgage, multiple inquiries within a short
receive a copy of your own credit report once a yearperiod (usually about a week) will be treated as one
for free. You can find this free copy at This will notinquiry to allow for “rate shopping.”
count as a credit inquiry and will not affect your scoreOne place to be careful of is car dealerships. If your
in any way.credit isn’t perfect, they could very well
Credit inquiries affect your score when your credit is“shotgun” or send your credit application to
pulled by a company or business looking to provideseveral lenders at once, causing many inquiries at the
you with credit or financial services. For example, ifsame time. Be sure to ask the person to which you
you apply for a credit card, mortgage or other loan, theare making an application with how your credit request
company you apply to would pull your credit. Each pullwill be handled.
on your credit is treated as a separate inquiry.In summary, if you are pulling your own credit to
Multiple inquiries can have a negative affect on yourreview and make sure identity theft has not hit you,
credit. The scoring models view it in two ways. Eitheryou have nothing to worry about. If you are seeking to
you are being turned down everywhere and gettingmake a major purchase, like a mortgage, it is highly
desperate, or you are being approved everywhererecommended that you find a broker that can pull your
and getting over extended with debt. Neither situationcredit once and then look at several lenders for you
is good so the scores will be lowered as a warning towith that one credit inquiry.
other lenders.