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You may be afraid to access your credit score out of concern that doing so will lower your score, but this is a myth.

It is true that too many inquiries by CREDITORS will lower your score, but it does not lower your score when you make inquiries yourself.

The reason that it lowers your score when loan companies make inquiries is that it sends a signal to the credit scoring company that you are about to take on more debt.

That’s why it’s not generally a good idea to apply for a department store credit card just to save 10 percent on your purchase – because it will lower your credit score, which may end up costing you more in the long run.

When you check up on your credit score, it is considered a “soft” inquiry which does not affect your credit.

When a prospective employer checks on your credit, or when credit companies check on your credit without checking with you first (say, if they want to offer you a loan, or a free cell phone), that is also a soft inquiry.

When you apply for a loan, for a cell phone plan, for a new car, for a mortgage loan, THAT is a “hard inquiry”.

Sometimes it is necessary to apply to for credit, but never do so casually and try to limit the number of places that you apply for credit with.