In much the same way that a resume displays your work
experience to a prospective employer, a credit report provides
prospective creditors (and in some cases employers and insurers
too) with a detailed picture of your credit history. And like a
resume, your credit report can influence whether you will
receive what you are applying for.
Ideally, your credit report is an accurate, up-to-date
reflection of your credit history. However, since we don't live
in an ideal world, there are many reasons that your credit
report could contain inaccuracies that might prevent you from
receiving the credit you deserve. The good news is you can take
action to keep your report accurate. Here are the top five
reasons why you should make a practice of regularly reviewing
your credit report:
Inaccuracies & Mixed Credit Files
Many inaccuracies on a credit report can be the result of
simple human error, and are therefore are not difficult to
dispute. Of course, if you don't order your credit report, you
might never know about it. Whether the inaccuracies relate to
payments not credited, late payments, or data mixed in from the
credit file of someone else with a name similar to yours, you
will want to contact the credit bureau to dispute inaccurate
information promptly. If you would like to get a free copy of
your credit report, 
click
here now.
Tracking Payments
One of the most important elements of credit is a
demonstrated history of on time payments. Once you send the
check though, anything can happen--a delay in the payment being
received can kick you over to a 30-day delinquency. If you call
your creditor and explain the situation, they might adjust the
information. Of course, if you don't read your credit report,
you won't necessarily know which payments are being received and
reported properly. If you would like to get a free copy of your
credit report,
click here now.
Identity Theft
This issue alone is reason to order your credit report
immediately. Identity theft is an insidious crime, involving a
thief who assumes your name to open new accounts, divert your
card statements to another address, and run up all sorts of bad
debt without you ever knowing about it until collectors come
calling. Over time, identity theft could jeopardize your ability
to obtain further credit. The best way to catch a thief who is
using your name is by getting a copy of your credit report,
which will show you if there are accounts listed you know you
haven't opened. For example, if a thief has intercepted a
pre-approved credit card offer in your name and sent it in with
a change of address, your credit report will include the
account. If you would like to get a free copy of your credit
report, click
here now.
Inquiries
If you're shopping around for a loan or more credit, you
should know that when creditors check your credit, it places an
inquiry on your credit report. Inquiries can add up, which is
often interpreted as a negative by creditors. For this reason,
too many inquiries can actually make getting credit more
difficult. Moreover, if you didn't authorize someone to look at
your credit report and they did, they may have broken the law.
If you would like to see who's been looking at your credit, click
here to get a free copy of your credit report.
Credit Fraud--Unauthorized Charges
Credit fraud involves the theft of your credit card or
account number to make unauthorized charges to your account.
Though consumers are protected financially from this abuse,
other creditors may take note of all this activity and decide to
raise your interest rates or refuse to grant you a loan.
Ordering your credit report will help you catch new activity on
accounts that you haven't been using, or may have closed. If you
would like to get a free copy of your credit report,
click here now.
When it comes to managing your credit worthiness, your credit
report is your best resource. Ordering your credit report gives
you the opportunity to manage your credit wisely today, while
planning your credit strategy for achieving future goals--a
credit-savvy move every consumer should make! click
here to get your credit report, for free!
(c)2000 ConsumerInfo.com. This article is the
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and is reprinted with their permission. ConsumerInfo.com is a
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respective owners.
Information provided by ConsumerInfo.com is for
informational purposes only and is not a substitute for
professional financial or credit advice.
Published: October 25, 2002
