Checking your credit report will not hurt your credit score, expert says
Strategas CEO and Chairman Jason Trennert addresses the run on smaller regional banks as the market plans for the Fed's next rate move on 'The Big Money Show.'"Your credit score is one of the most important numbers in your financial life because it goes a long way toward determining whether or not you’re approved for loans and lines of credit," says Ted Rossman, senior industry analyst at Bankrate.
Since your credit score impacts so many important aspects of your life, being proactive is wise, says Rossman. or line of credit," Rossman tells FOX Business. "It’s also good to know where your credit score stands so that you can be realistic about your approval odds and likely interest rate." In addition, he says a person should also consider blocking third-party access to their consumer reporting data through a security "freeze" if they were notified that their credit information was subjected to or impacted by a security breach. The CFPB provides information about Signage is seen at the Consumer Financial Protection Bureau headquarters in Washington, D.C., on May 14, 2021.
Checking you credit score can help you discover fraud. Consumers reported losing $5.8 billion in fraud in 2021.
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