Does Chase Credit Journey Affect Credit Score?
It is very common for many people to monitor their credit scores and reports using Chase Credit Journey. Chase Credit Journey is a service provided to Chase customers where they can monitor their credit score for free. This enables you to check your credit score, check out your entire credit report by Experian, be notified of any changes, and much more.
One question that people make is whether Chase Credit Journey will affect your credit rating negatively. In other words, the answer is no, and this is because merely accessing, reviewing, and monitoring credit information through Chase Credit Journey does not have any negative effects on the scores or generate inquiries on the reports. In the next few points, I will explain how each step of the process works.
Does Checking Your Credit Score Affect It?
Two basic types of credit reporting services are hard credit checks and soft credit checks. Chase Credit Journey just provides soft inquiries, hence these do not affect whatsoever on your credit score.
Unlike soft inquiries, hard inquiries do, however, influence your credit ratings. Applying for credit or loans is one of the activities that cause thorough investigation. Potential lenders review your credit records upon loan application, which shows up on your credit reports as an inquiry. Therefore, it is essential to refrain from stuffing your credit record with several inquiries within a short period since this could lower your marks.
Still, a simple review of credit reports and scores does not qualify as qualifying for credit and so does not include thorough searches. For instance, Chase Credit Journey only generates soft inquiries—not viewed by other lenders—that have no bearing on credit score.
Why Soft Inquiries Do Not Impact Your Score?
Soft inquiries do not affect your scores because the purpose of soft inquiries is to check your credit and not apply for credit. If they just saw scores drop after generating the reports, then it would demotivate everyone from checking credit at all.
The scoring models also acknowledge the distinction between you scrutinizing your credit information, to new lenders scrutinizing it. That way, whether you are using Chase Credit Journey or getting scores from other services, you can monitor them as frequently as you like without any negative impact.
What Credit Scores Does Chase Credit Journey Show You?
Another frequent question is whether the credit scores provided by Chase Credit Journey are the same as those that lenders can observe. The answer is yes.
Chase Credit Journey is your access to your VantageScore 3. 0 credit score from Experian. The VantageScore model is extremely similar to the FICO scores, which are more familiar to consumers. As a rule, the variation of VantageScore and FICO is less than twenty points as the two services operate on the three hundred to eight hundred fifty point range.
Therefore, the score provided by Chase Credit Journey provides a clear snapshot of your current credit status. Again, just getting to those scores does not harm them in any way. It also means that your reports to lenders will not reflect the soft inquiry from Chase Credit Journey.
Why Should One Check Chase Credit Journey Often?
On its own, Chase Credit Journey will not alter your credit scores in any way, but the information it provides about your credit status can. Here are some key reasons to monitor your reports and scores regularly through Chase Credit Journey.
Your Credit Score and Report Data in Real Time
Unlike other free credit score services you receive your full credit report from Experian with Chase. This way, you can go through and see all the information that is being reported to ensure there is no mistake.
Catch Errors Early
Mistakes are possible but the earlier you notice them the earlier you can begin the dispute. If left uncorrected, they could greatly harm your scores and this is the last thing that you want to happen.
Trends Analysis, and Something Fishy
When an identity thief goes through the hazardous exercise of applying for credit in your name, you will notice it through credit monitoring rather than awaiting a credit application. You will also notice when new accounts are opened validly so nothing escapes your notice.
Track improvement and actualization of goals
When it comes to credit health improvement, monitoring scores help you see changes as you progress through the process. It is extremely encouraging especially when you mark a certain point in your way to the main goal, that is the definite score.
The Takeaway: Chase Credit Journey is Your Ally
Therefore, I can safely conclude that – not only is Chase Credit Journey non-intrusive when it comes to your credit report, but when utilized correctly – it is even beneficial to your credit score in the long run. It is one of the most effectively free credit and identity monitoring service providers out there.
When it comes to knowledge, it is always better to be informed than to be surprised. To be credit-smart, you can monitor your Experian credit report and VantageScore with Chase Credit Journey to tackle problems before they snowball, check on your credit health improvement, and much more. You can check it as often as you want with no credit scoring issues involved in the process.
Ready to boost your credit score? Call +1 888-804-0104 now for the best credit repair services near you! Our expert team is here to help you achieve financial freedom and improve your credit. Don't wait—get started today!