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:
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 now.
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 now.
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 now.
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 now to get a free copy of your credit report.
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 now.
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!
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