Check Your Credit Report-and Keep Checking!
How often should you check your credit report? The simple answer is this: once a year. However, everyone is an individual with different circumstances, so one size does not fit all. For those with good credit, once a year may be enough. However, in this economy, many people are opening more accounts and dealing with other situations that would call for more frequent credit report checks. It is important to know when to check your credit report.
In these times, with so much identity theft, just checking your credit card statements every month may not be enough. A new account won't show up on your credit card bill, but you will see that a thief has stolen your identity on a credit report, since credit reports show new accounts that have been opened.
Receiving a phone call about debt you didn't know you owed is not the best way to find out your identity has been stolen. You will have a much better chance of dealing with identity theft if you detect it early on, by checking your credit report before the problem gets out of hand. There are also other situations in which it is important to check your credit report.
If you are planning to get out of your current credit card debt or to improve your credit in general, your credit report is the right place to begin your research. It contains details about all of your financial accounts and what creditors are saying about you. Staying on top of your finances is the best way to maintain good credit or to improve upon it.
The credit report also becomes valuable when you decide a project must go the funding way but your application is denied. Even a credit card debt of twenty dollars from four years ago can keep you from receiving a loan. If your credit is cited as the reason for the rejection, you are entitled to a free credit report, which you should review to ensure that the information inside is accurate and that the decision was not based on misinformation.
Because credit reporting bureaus are made up of people, it is possible that a human error can occur in your credit report. If you find an error, you have the legal right to challenge that error. Credit agencies are required by law to look into your challenge to ensure accuracy on your report.
When a lender runs a credit check on you, you have the right to know what to expect. You do not want to be rejected for a loan because your file contains a human error that you were unaware of until your loan was denied and you most certainly do not want to find that your finances have been ravaged by an identity thief while your back was turned.
You have the legal right to pull one credit report per year for free. Don't pass up this right. And remember, if you are looking into applying for a loan, trying to improve your credit score, or just looking out for identity fraud, pull your credit report frequently enough to make sure your credit information is accurate.
In these times, with so much identity theft, just checking your credit card statements every month may not be enough. A new account won't show up on your credit card bill, but you will see that a thief has stolen your identity on a credit report, since credit reports show new accounts that have been opened.
Receiving a phone call about debt you didn't know you owed is not the best way to find out your identity has been stolen. You will have a much better chance of dealing with identity theft if you detect it early on, by checking your credit report before the problem gets out of hand. There are also other situations in which it is important to check your credit report.
If you are planning to get out of your current credit card debt or to improve your credit in general, your credit report is the right place to begin your research. It contains details about all of your financial accounts and what creditors are saying about you. Staying on top of your finances is the best way to maintain good credit or to improve upon it.
The credit report also becomes valuable when you decide a project must go the funding way but your application is denied. Even a credit card debt of twenty dollars from four years ago can keep you from receiving a loan. If your credit is cited as the reason for the rejection, you are entitled to a free credit report, which you should review to ensure that the information inside is accurate and that the decision was not based on misinformation.
Because credit reporting bureaus are made up of people, it is possible that a human error can occur in your credit report. If you find an error, you have the legal right to challenge that error. Credit agencies are required by law to look into your challenge to ensure accuracy on your report.
When a lender runs a credit check on you, you have the right to know what to expect. You do not want to be rejected for a loan because your file contains a human error that you were unaware of until your loan was denied and you most certainly do not want to find that your finances have been ravaged by an identity thief while your back was turned.
You have the legal right to pull one credit report per year for free. Don't pass up this right. And remember, if you are looking into applying for a loan, trying to improve your credit score, or just looking out for identity fraud, pull your credit report frequently enough to make sure your credit information is accurate.
About the Author:
To find out exactly how you can get your annual credit report visit my credit report website.
posted by Credit Counseling at
1:36 PM
0 Comments:
Post a Comment
Subscribe to Post Comments [Atom]
<< Home