If you are referring to checking your own credit report, no this is not true. While it is true that inquiries into your credit can serve to lower your credit rating, requesting your own report is a different type of inquiry that does not affect your credit rating. There are two types of inquiries that will show up on a credit report--above and below the line inquiries.

An above-the-line inquiry is added to your report when you apply for new credit and the credit grantor reviews your credit report. Below-the-line inquiries are added to your report when you or someone else looks at your credit report, but you have not applied for new credit. This can occur when creditors use your report to evaluate special pre-approved offers they may be sending you. These below-the-line inquiries do not show up to lenders and credit grantors and are not a part of your overall credit score.

However, when you apply for credit cards and loans, an inquiry will be added to your credit report when the lender or card issuer checks your credit history. Too many of these inquiries can indicate to lenders that you may be about to overextend yourself so it may be wise to apply for credit sparingly.