An Excellent Way to Keep Tabs on Your Credit

January 28th, 2016 by Scott Spiering

Generally, the better your credit, the less you’ll pay to borrow money.  Maintaining good credit also could be your ticket to pay less on insurance, get a lower rate on your credit card and even qualify for a better job. Since your credit plays such an important role in accomplishing your financial goals, it is essential to keep close tabs on it as part of your financial plan.

Many credit cards are now giving you access to your credit score on your monthly statement or online, but it is also important to view your full credit report. Experts recommend that you order your credit report at least once each year. Each of the nationwide credit reporting companies — Equifax, Experian, and TransUnion — is required to furnish you with a free copy of your credit report once every 12 months. To order, visit annualcreditreport.com, or call 1-877-322-8228. You may order reports from each of the three credit reporting companies on the same day, or you can space out your requests throughout the year. One option, for example, would be to order your credit report from a different bureau every four months.

Once you have your credit report in hand, you’ll want to comb through your report for any errors. Studies show many consumers have some type of error! Here are 3 things to look for:

  1. Is your identifying information accurate? Are there addresses that you don’t recognize or a name that doesn’t apply to you?
  2. Do you recognize all of the accounts being reported? Sometimes your report can include information from someone else’s report, such as a family member. You’ll want to avoid these mixed files and get them corrected.
  3. Are your payments being reported on time? Review the payment history for each account and look for inaccuracies. Any mistakes are worth a call to your creditor to get corrected.

Want to get started today? You can go to annualcreditreport.com, view your credit report online and print it out within minutes!