Five Reasons
to Check Your Credit
Report Regularly
In much the same way
that a resume
displays your work
experience to a
prospective
employer, a credit
report provides
prospective
creditors (and in
some cases employers
and insurers too)
with a detailed
picture of your
credit history. And
like a resume, your
credit report can
influence whether
you will receive
what you are
applying for.
Ideally, your credit
report is an
accurate, up-to-date
reflection of your
credit history.
However, since we
don't live in an
ideal world, there
are many reasons
that your credit
report could contain
inaccuracies that
might prevent you
from receiving the
credit you deserve.
The good news is you
can take action to
keep your report
accurate. Here are
the top five reasons
why you should make
a practice of
regularly reviewing
your credit report:
1- Inaccuracies &
Mixed Credit Files
Many inaccuracies on
a credit report can
be the result of
simple human error,
and are therefore
are not difficult to
dispute. Of course,
if you don't order
your credit report,
you might never know
about it. Whether
the inaccuracies
relate to payments
not credited, late
payments, or data
mixed in from the
credit file of
someone else with a
name similar to
yours, you will want
to contact the
credit bureau to
dispute inaccurate
information
promptly. If you
would like to get a
free copy of your
credit report,
Click here
2- Tracking
Payments
One of the most
important elements
of credit is a
demonstrated history
of on time payments.
Once you send the
check though,
anything can
happen--a delay in
the payment being
received can kick
you over to a 30-day
delinquency. If you
call your creditor
and explain the
situation, they
might adjust the
information. Of
course, if you don't
read your credit
report, you won't
necessarily know
which payments are
being received and
reported properly.
If you would like to
get a free copy of
your credit report,
Click here
3- Identity Theft
This issue alone is
reason to order your
credit report
immediately.
Identity theft is an
insidious crime,
involving a thief
who assumes your
name to open new
accounts, divert
your card statements
to another address,
and run up all sorts
of bad debt without
you ever knowing
about it until
collectors come
calling. Over time,
identity theft could
jeopardize your
ability to obtain
further credit. The
best way to catch a
thief who is using
your name is by
getting a copy of
your credit report,
which will show you
if there are
accounts listed you
know you haven't
opened. For example,
if a thief has
intercepted a
pre-approved credit
card offer in your
name and sent it in
with a change of
address, your credit
report will include
the account. If you
would like to get a
free copy of your
credit report,
Click here
4- Inquiries
If you're shopping
around for a loan or
more credit, you
should know that
when creditors check
your credit, it
places an inquiry on
your credit report.
Inquiries can add
up, which is often
interpreted as a
negative by
creditors. For this
reason, too many
inquiries can
actually make
getting credit more
difficult. Moreover,
if you didn't
authorize someone to
look at your credit
report and they did,
they may have broken
the law. If you
would like to see
who's been looking
at your credit,
Click here to
get a free copy of
your credit report.
5- Credit
Fraud--Unauthorized
Charges
Credit fraud
involves the theft
of your credit card
or account number to
make unauthorized
charges to your
account. Though
consumers are
protected
financially from
this abuse, other
creditors may take
note of all this
activity and decide
to raise your
interest rates or
refuse to grant you
a loan. Ordering
your credit report
will help you catch
new activity on
accounts that you
haven't been using,
or may have closed.
If you would like to
get a free copy of
your credit report,
Click here
When it comes to
managing your credit
worthiness, your
credit report is
your best resource.
Ordering your credit
report gives you the
opportunity to
manage your credit
wisely today, while
planning your credit
strategy for
achieving future
goals--a
credit-savvy move
every consumer
should make!
Click here to
get your credit
report, for free! |