As a trusted credit union in East Texas, Eastex Credit Union aims to help our members use best practices and beneficial information regarding their financial journey. One question members may have is: How often should I check my credit score?
Unfortunately, there are several myths surrounding credit scores, reports, and how spending habits impact this data. To debunk these falsehoods and shed some light on this matter, we’ve provided a wealth of helpful insight below.
How Often Should I Check My Credit Score?
There’s no one-size-fits-all answer to this question. However, it’s important to note that you can check credit score reports as much as you’d like. In most cases, it’s sensible to monitor it regularly. For many, this means checking their credit score a few times a year. Keep in mind that your credit score is only updated monthly, so don’t be alarmed if you don’t notice any changes for weeks at a time.
Depending on your circumstances, it might make sense to track your credit score more regularly. For instance, if you’re interested in applying for a loan, credit card, etc., knowing where you stand financially will be enlightening. If you’ve been a victim of fraud, it’s especially critical to keep an eye on your credit score. Any significant and unusual changes should be reported immediately. The sooner you dispute fraudulent activity, the faster you can repair your credit score.
Most notably, don’t hesitate to check your credit score as you see fit. Contrary to popular belief, checking your score won’t lower it. In fact, it won’t have any effect on your credit report. Third parties can also gather this information without influencing your score. These are called hard credit inquiries, and they’re performed primarily by lenders. Checking your credit score yourself is referred to as a soft credit inquiry.
When Not to Check Your Credit Score
It’s prudent to have a rough idea of what your credit score is, but obsessively checking is ill-advised. People with lower scores tend to stress over daily fluctuations, but these minor adjustments aren’t worth worrying about. These shifts are normal, so there’s no need to preoccupy yourself with the day-to-day numbers. At the same time, it’s careless to ignore this information. Though having a low credit score can provoke anxiety, disregarding this data will prove detrimental in the long run.
How To Check Your Credit Score
At Eastex Credit Union, we’ve partnered with a convenient tool that allows members to check their credit score from the comfort of their own home. This complimentary program is called Credit Sense, and it offers 24/7 access to your credit score. When you opt for this resource, these are some other perks that you’re promised.
- Advice on how to maintain a healthy credit score
- Unlimited access to credit score
- No credit card information required
- Easy-to-use features
- Daily credit alerts
- Free monthly credit reports
- Performance reviews
Your Go-To East Texas Federal Credit Union
Whether you have a healthy credit score, a bad credit report, or require sage financial counsel, we’re a credit union for all. We breathe understanding and convenience into these financial affairs, and we have an unwavering commitment to community involvement. Discover how easy it is to improve your credit score, analyze your credit report, and promote financial stability when you place your trust in us. Give us a call today at 409-276-2525 to learn more about our banking services.