Does Clear Score affect credit score?

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Checking your credit score with ClearScore in Canada is a stress-free experience! Using “soft credit checks,” it won’t impact your score. Unlike hard checks, which can slightly lower your score when applying for a loan, soft checks are invisible to lenders. ClearScore fetches data from TransUnion, allowing you to monitor your credit health without worry. Reach out via phone, text, or live chat if you have any questions.

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Clear Score And Credit Score Question

Does Clear Score affect credit score? Does using Clear Score to check my credit score have any effect on the score itself?

From: Anonymous Question
Location: Oakville, Ontario (ON)
Category: credit rebuilding

Clear Score And Credit Score Answer

Checking your credit score with ClearScore in Canada is perfectly safe and won’t dent your credit score. ClearScore uses what’s called “soft credit checks.” These checks are just for your eyes and have zero impact on your score because they’re invisible to lenders. It’s only when you apply for a loan that hard checks come into play, which lenders can see and might lower your score a tad. ClearScore pulls your credit data from TransUnion, one of the big players in Canadian credit reporting, so you can keep tabs on your score without stress. Feel free to check as often as you like—soft checks don’t pile up or penalize you.

Don’t forget, different platforms might pull data from different places. While ClearScore relies on TransUnion, some others, like Equifax, might have varying costs or services. And even though Credit Karma also taps into TransUnion, it might not give you the full picture like a complete report. The beauty of using ClearScore is that you can keep an eye on your credit health whenever you want without fret. If you have any questions or need assistance, you can easily reach out by phone, text, or live chat. For detailed guidance on credit score agencies, you can explore how they work and what to expect.

From: Insider Adam

Office of the Superintendent of Bankruptcy (OSB) Answer

ClearScore does not affect your credit score. Using ClearScore to check your credit score is considered a “soft inquiry,” which does not impact your credit rating. According to the information provided in the relevant legislation, soft inquiries, unlike hard inquiries associated with loan applications or credit card applications, do not affect the calculated score. If you want to understand how these inquiries impact your credit, you can discover more about credit score agencies.

From: OSB Helper

Related Questions to Clear Score Affecting Credit Score

Here are the top 5 most frequently asked questions related to the impact of ClearScore on credit scores, based on current trends and concerns:

1. Does using ClearScore affect my credit score?

No, using ClearScore to check your credit score and credit report does not impact your credit score[3][5].

2. Is checking my credit score on ClearScore a hard or soft credit check?

Checking your credit score on ClearScore is a soft credit check[3][5].

3. How often does ClearScore update my credit score?

ClearScore updates your credit score weekly[3][5].

4. Can I download my full credit report from ClearScore?

No, ClearScore does not offer a way to download your full credit report; you need to request it directly from the credit bureau[1][3].

5. Is the credit score from ClearScore accurate?

The credit score from ClearScore is accurate as it uses data from the credit bureaus, but scores can vary depending on the credit bureau used[1][3][5].

If you have a question about debt see our debt questions or ask your own debt related question.

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