Why Check Your Credit Scores & Reports?


 

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Male Speaker:
This segment of Credit FYI is brought to you by FreeScore.com.

Carrie:
We talk so much about credit scores and credit reports, that sometimes people become confused as to why they should be checking these reports. In a recent poll, it was revealed that most people check their credit reports just because they're curious or are applying for a loan. Others may have been refused credit, and 35 percent of respondents were worried about identity theft, which is becoming a big problem these days. When you're checking your credit report, you want to be sure to check for unauthorized activity and accounts that you may not recognize, and even address changes. Checking your credit report regularly can help you manage various aspects in your life. For instance, if you know you're going to be applying for a new job, or you're going to need credit within the next six to twelve months, you can work to make sure you have a strong payment history in place, and that you're applying for these things as your credit is peaking. If you've been turned down for credit, you have a right to get a copy of your credit report from the agency that turned you down for free. This way you can take a look at your credit report, and mend the issues that caused you to be denied. The bottom line from Credit FYI: be curious, and check your credit reports.

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Duration: 2 minutes

 

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