2009Oct9
- Getting A Copy Of Your Credit Report And Seeing What Needs To Be Improved
If you are concerned about identify theft or regular credit monitoring, you likely understand the importance of obtaining a copy of your free personal credit report.
And if not, come to our house; my husband regularly monitors his numbers and his report!
So, heed this! Neglecting to monitor your credit may prove damaging in the long run. It does not take long for a person to access your information and begin opening accounts in your name. For this matter, consumers are advised to obtain a 3 in 1 credit report every six months.
Benefits of a Credit Report
Aside from protecting yourself against identify theft, credit monitoring is essential for improving your credit rating. Although lenders use credit reports to judge a loan applicant’s creditworthiness, credit reports are also beneficial because they keep us informed of our credit standing. Thus, we can know our odds of obtaining a home loan, auto loan, etc.
Further, in recent years, employers are also using credit reports to determine an applicant’s “suitability” for employment.
How to Get a Copy of Your Credit Report
Getting a copy of your 3 in 1 credit report is simple. Furthermore, because reports are viewable online, there is no valid reason not to check your report at least once annually. Every city across the country has a local credit agency that will issue copies of your credit report from all three bureaus. However, if you prefer the convenience of the internet, there are various Web sites that offer 3 in 1 reports for a small fee.
But even better, one of the local credit unions to which I belong included in this month’s newsletter that we are able to obtain our credit report from them for free once a year. So, if you belong to one, you might want to check with your local credit union to see if they also provide that service.
In the meantime, to obtain a copy of your personal reports, you must provide information such as name, address, social security number, etc. Once your information is verified, credit reports are either sent via email, or viewable from the Web site. Your entire credit history will show before your eyes.
Why Obtain Copies of a 3 in 1 Credit Report?
If you are hoping to improve your credit rating, obtaining a 3 in 1 credit report should be the first step you take. This way, you know exactly what needs improving. The report will list all creditors, current balances, and you account standing. Moreover, you should review your report for errors. If inaccuracies are present, contact the bureau and discuss how to correct the matter.
In addition, credit reports include a credit score. This 3 digit number carries a lot of weight. Low scores indicate bad credit, whereas high scores equal good credit. If the goal is to improve credit score, it may be wise to improve in certain areas. For example, avoid late or skipped payments, reduce debt to income ratio, settle collection accounts, and limit your number of credit inquiries.
Yours in getting your credit report,
for some of the products promoted at this site.
