Is It Bad to Check Your Credit Report Too Often?

Your credit score determines your access to important financial lifelines like loans, credit cards and low-cost banking accounts. While it is important to check your credit report occasionally, checking your credit report too often can damage your credit score.

FICO Rules

According to myFICO.com, frequent credit checks can have a small, negative impact on your credit score. FICO judges repeated credit report checks to indicate that you are not controlling your finances well.

Different Checks

There are two basic ways to have your credit report checked. Most obviously, you can check the report yourself by requesting it online. The more frequent way your credit report will be checked is after you apply for a new credit card. The credit card company will request your credit report in order to evaluate your credit card application. Both of these types of credit report checks can count against your credit score.

Free Checks

According to US Federal Trade Commission, the United States government allows you one free personal credit report check per year. Any additional checks will require you to pay a fee. The annual credit report check will not negatively influence your credit score.