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Why You Should Check Your Credit Report Regularly

Like most people, you probably don’t worry about what your credit score looks like unless you are applying for a loan or credit card, or you may be someone who has never checked your score. It’s not like checking your bank account or credit card balance, it is one of those things that is off running in the background that can be easy to miss or ignore.

For some people, it can be stressful to think about what they may find when they check their credit score, but if you really want to have control over your finances and credit, it is going to require you to check your credit report regularly.

Knowing where you stand with your credit is a critical component to your financial health regardless of whether it is good or bad. It is better to know where you fall on the scale so that you can maintain a good score or take steps to improve it.

Building a good credit history takes time, years in fact, so monitoring where you are keeps you in control. Keeping an eye on your credit report can help keep you informed on what information is being transmitted.

This allows you to see if everything is accurate so that you can get ahead of any errors that may appear in the case that you need to file a dispute with the credit bureaus. By checking regularly, you are alerted much sooner to any changes or dips in your score making it easier to spot what caused the change so you can start to recover any points lost faster.

With a strong credit score you have a better chance to qualify for more perks with credit agencies like:

  • Better Interest rates
  • Higher balances
  • Better card rewards
  • 0% interest balance transfers

How to Check Your Score

There are a lot of options available for staying attuned with your credit and most of them are free to use which can be crucial if you are wanting to watch it on a regular basis. Check with your bank or credit card to find out what services they offer. If your credit card issuer is part of the new FICO Open Access program, you will receive a copy of your FICO score each month along with your statement.

If you are preparing to make a large purchase in the near future such as a house or car, you will want to keep up with your credit report more often as your score can fluctuate daily in some cases. If a major purchase is not on the horizon, checking monthly or even every six months should be sufficient. With good payment and spending habits, you can maintain a good credit score but keeping track of how it fluctuates and how it is affected can keep you in control. Contact us today for more information.