Good Reasons to Review Your Credit Report

Some people know they have a good credit score, so they don’t see the reason in reviewing their credit report once a year.

Conversely, some consumers know they have an average or poor score, which leads them to shy away from their credit report because they’re afraid of what they’ll find.

Regardless of which group you fit into - or if you lie somewhere in between – you should get into the habit of reviewing your credit report at least once a year.

You can request a free copy of your report directly from the three major credit bureaus, or via an online service. Either way, it doesn’t take much effort to get your hands on this important piece of financial information.

Here are several of the best reasons to review your credit report:

•    To check for inaccuracies: It’s hard to believe, but many credit reports contain at least one mistake. For example, you come across a red flag for a late payment. However, you know that you never paid the creditor after the due date. This is something you want to immediately dispute.
•    You can see what creditors see: This is important if you have plans of applying for a loan or credit card in the near future. For instance, maybe you’re interested in applying for a mortgage. Wouldn’t it be nice to know what potential lenders see when they review your credit report?
•    To rebuild or maintain good credit: Forget about your current credit score for a minute, and turn your attention to the future. Reviewing your credit report gives you the information you need to maintain your good score or rebuild a score that requires some attention. 

If you can’t remember the last time you reviewed your credit report, request a free copy today and spend an hour or so digging through the finer details. You may be surprised at what you find, as well as the ways you can use the information to improve your finances.