Important Yearly Credit Checks


Keeping a Watch on Your Credit

Do you know how important it is to keep a watch on your Credit Report?  Checking a minimum of once per year to review the items listed on your report can be vital to maintaining a clean record.  Lenders and other creditors such as auto loans, boat loans, and credit card companies will be looking at your credit report for sure, so don't be caught by surprise with something that doesn't belong there.  You are entitled to a FREE yearly report so take advantage of this and check for yourself.

You can check your credit report and credit score on each of the major credit scoring companies:  

♦ Experian

♦ Equifax

♦ TransUnion

Carefully check the accounts listed to be sure they are correct.  If you find discrepancies, be sure to report them to the credit bureau right away to get them resolved. If any late payments older than seven years show up on the report, ask to have these removed.

It might be best to close accounts you no longer intend to use.  Be sure that you pay all bills on time and keep your debt-to-income ratio as low as possible.  This will help you maintain a high credit score and be considered a good candidate for credit when you need it.