No, checking your own business credit profile does not affect your credit score. This is known as a soft check.
When you view your report through services like Capitalise, it’s recorded as a soft check, meaning it has no impact on your score. You can check your credit profile as often as you like without any negative effects. To go further, read below about soft and hard checks.
Understanding soft check versus hard checks:
There are two types of credit checks:
Soft check: this occurs when you check your own credit report, or when lenders or credit card companies review your credit for pre-approved offers. Soft checks are not visible to other lenders and do not affect your credit score.
Hard check: this happens when you apply for new credit, such as a business loan, a new credit line, or trade credit. Hard checks indicate that you are actively seeking credit, and too many in a short period can slightly lower your credit score.
Should I check my business credit score regularly?
Yes. Checking your business credit profile regularly is a smart and proactive practice for several reasons:
Monitoring accuracy: ensure the information being reported about your business is correct. Errors can negatively impact your score.
Tracking progress: see how your score changes over time as you take steps to improve your profile
Understanding your standing: know what lenders and suppliers see when they assess your business's creditworthiness.
Identifying potential issues: spot any unusual activity or potential signs of fraud before they become serious problems.