Yes, Your Credit Report Matters

Posted on 2014-07-18 09:00:36

Your credit report is a snapshot of your credit profile. It documents your credit history and your current credit standing. Specifically, your credit report will indicate how you have handled past credit obligations, how much credit is currently available to you and your current outstanding debt. Why is that such a big deal? It’s a big deal because: • Lenders review your credit report to help decide if you are a good credit risk. • Prospective employers may review your credit report to help make a hiring decision. • Landlords use credit reports it to decide whether or not to offer a lease. • Utility companies may review your credit report to decide how much of a deposit to require. When did you last check your credit score? There are others, but this should help you to understand why your credit report is so important. Yet—as astounding as it sounds—studies show that nearly one in four persons has never looked at his credit report. Never. That is, arguably, one of the worst mistakes you can make. Why? Because credit report errors are so common, and they can affect your credit score. When it comes to your credit report, what you don’t know can hurt you. A one-time peak is a good start, but not enough. Information is constantly being added to your credit report by lenders and others. What if you check your credit report today, and then an error or fraud shows up? That’s where a credit monitoring service can help. A credit monitoring service checks your credit report daily and alerts you whenever something important changes. It’s an easy way to avoid surprises on your credit report—surprises you don’t want to find out about when you apply for new credit. Credit Monitoring Can Help Detect Identity Theft There’s another benefit to a credit monitoring service. It can help you proactively detect identity theft. No one is immune to the threat of identity theft. It has been the number one consumer complaint filed with the Federal Trade Commission every year since 2000. Some experts agree that credit monitoring is an effective way to protect yourself from identity theft. MyFreeScoreNow has been ranked as one of the Top 5 credit monitoring services in 2013, an honor we worked hard to attain. With a free trial membership you will receive your credit score—instantly—and your current credit report. Check it for accuracy, then let us do the work of staying on top of it.