Do you know your number?
Nearly one in five credit card users is still under the false assumption that checking their credit score could drag it down, according to a recent online survey of more than 2,000 credit card holders conducted in June by Discover, a direct banking and payment services company.
This was surprising, said Jeff Bielski, vice president of marketing at Discover. The study showed that the majority of respondents were more aware of their credit score this year than last. However, the frequency with which a credit score can — or should — be checked may not be clear to users. While over 80 percent had checked their score in the last year, only 12 percent reported checking on a monthly basis.
"People tend to overthink their credit in general," said Matt Schulz, chief industry analyst for comparecards.com.
"Ultimately, it's not as complicated as people think. It's important for people to understand that if they check their own credit score, they won't hurt it," Schulz said.