Don’t wait to check you’re credit score if you’re anxious it will hurt your credit. A Credit Boost credit report is 100% free– no hidden costs, no middlemen, no credit card needed–while not hurting your credit score. Read on to explore how to acquire a free credit report that won’t hurt your credit score.
According to National Credit Act 34 of 2005 (NCA), credit reports should be free. Section 78 (3) of the NCA states that consumers are entitled to one free credit report per year from each registered credit bureau in the country. Free access to credit reports empowers consumers to manage their finances effectively, track their creditworthiness, and avoid identity theft. Credit Boost believes in promoting financial awareness and inclusion, especially for those who cannot afford paid reports.
There are two types of credit checks. First, there are the hard (regular) inquiries. These are carried out when you apply for credit or buy insurance, among other instances. These hurt your credit because they tell credit bureaus you’re trying to acquire credit. The more of these show up on your report, the lower your score plummets.
The other sort of credit check is called a soft (account review) inquiry, which does not hurt your credit because they’re invisible to lenders. Companies might check your credit to pre-approve you for offers, verify your identity for employment purposes, or even allow you to check your credit score. Since there’s no formal application tied to it, lenders don’t see it as a sign of potential credit risk.
There’s nothing to be afraid of with Credit Boost’s free soft inquiry. Get your free credit check for free within minutes, as well as free support.