Does Checking Your Own CIBIL Score Affect It?

First you check your CIBIL score because you are worried where your CIBIL score stands, then comes the real fear: can checking your own Credit score actually lower it? That is a common concern which people have, especially if you are planning for apply for a loan or a credit card.

The main thing is checking your own cibil does not lower your own score, what really matters in this is who is checking your credit score and why. A lender checking your credit report while giving you a loan is quite different from you checking your own credit score. Understanding this difference will help you to keep track of your own profile without hurting your own credit score.

Does Checking Your Own CIBIL Score Lower It?

No, checking your own CIBIL score does not lower your score. When you check your own credit report or score, it is known as soft enquiry, which does not affect your credit score.

Instead, checking your credit report regularly will help you to understanding your positioning in credit and identify the incorrect information that it has, or any unfamiliar accounts that needs to be addressed

A credit inquiry becomes different, if a lender checks on your credit card because they usually check while evaluating your application for a loan or credit card, that is known as a hard inquiry, which does has an impact on your credit score.

So when you check your CIBIL score and you apply for loan, these are two different things. You can check your score without worrying that it will lower it

What Is the Difference Between a Soft and Hard Inquiry?

The main difference between both of them is who is checking your credit report and why.

A soft inquiry is when you check your own CIBIL score or when your credit information has been taken for certain purpose and it doesn’t involve any new credit application. A soft inquiry will not reduce your CIBIL score.

A hard enquiry will happen when a lender checks your credit report to assess your application for credit card or a loan. So hard inquiry may have some effect on your credit score
That’s why checking your own CIBIL score is not something you should avoid. The important thing is to understand that checking your own Credit score and lender checking on your credit report for applying is different.

How Often Should You Check Your CIBIL Score?

There is no need for you to avoid check your own CIBIL because you are worried about lowering that. Checking your own CIBIL is a soft enquiry and it will not reduce your score.

Checking on your credit report from time to time will help you keep track of the changes that happen in your credit profile. You might notice an incorrect personal detail, a new account that you don’t recognise or a payment that might have happened incorrectly.

If you find an error, checking that earlier gives you an opportunity to point it out or you can reach out to your lender, to have your information checked and corrected.

Final Takeaway

So, checking your own CIBIL score will not lower that, so there is no need for you to avoid checking your credit report because of this. What you should focus on is the difference between both, soft inquiry and hard inquiry. Instead checking it regularly will keep you updated and help you identify the errors and take any action if needed.

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