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How much impact will a credit check have on my credit score?

Ask an Expert: Cait Holmes

A credit check takes approx five to seven points off your credit score. Your credit report is designed to be checked. That is the whole purpose of it.

It is okay to have one to two credit checks a month without it having too much of an impact.

I highly recommend signing up to the Equifax Consumer Complete Premier reporting for a few months to monitor your credit and to see when your credit files report to their bureau, as it is only once a month.

For $19.95 a month, it is well worth it for a couple of months.

Cait Holmes is a mortgage broker in the qathet region.

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