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THE IMPORTANCE OF CHECKING YOUR CREDIT REPORT

Credit Report

By Jennifer Tucker
July 24, 2024 | 4 Min. Read

MEET OLIVER: THE VIGILANT MONITOR

MEET JESSE: THE OBLIVIOUS IGNORER

HOW TO CHECK YOUR CREDIT REPORT

WHAT ARE THE THREE CREDIT BUREAUS?

HOW OFTEN SHOULD I CHECK MY CREDIT SCORE?

HOW CAN I GET MY CREDIT REPORT FOR FREE?

WHERE IS THE BEST PLACE TO CHECK YOUR CREDIT SCORE?

  • Credit Bureaus. Each of the three major credit bureaus offers a free annual credit report through AnnualCreditReport.com.
  • Financial Institutions. Many banks and credit unions offer free credit monitoring services to their customers. They often give you access to your credit score through online banking.
  • Credit Monitoring Services. Credit monitoring services like Credit Karma provide free access to your credit score and tools to help you monitor and manage your credit.
  • MyFICO. For a fee, MyFICO provides access to your FICO scores and detailed credit reports from all three bureaus.

HOW DO I MONITOR MY PERSONAL CREDIT SCORE?

  • Regularly check your credit score. Use the tools offered by your bank or credit union or free credit monitoring services to check your credit score regularly. Check your score at least once a month.
  • Review your credit reports. Obtain and review your credit reports at least once a year. Verify all the information for accuracy and dispute any errors.
  • Set up alerts. Many monitoring services and financial institutions offer alerts that notify you of significant changes to your credit report, such as new accounts opened or potential fraud. These alerts can help you react quickly to potential threats.
  • Use financial tools and apps. Tools like Credit Karma give you access to your credit score and offer insights into your credit utilization, payment history, and other factors affecting your score.

HOW DO I VERIFY MY CREDIT REPORT?

  • Review your personal information. Ensure your personal information (name, address, Social Security Number, etc.) is accurate and up to date.
  • Review your account information. Verify that all the accounts listed belong to you and that the information (account numbers, balances, payment history) is correct.
  • Check public records and inquiries. Ensure that public records (like bankruptcies or tax liens) and hard inquiries (credit checks from lenders) are accurate and were authorized by you.
  • Dispute errors. If you find any errors, dispute them with the credit bureau. After you provide documentation to support your claim, the bureau is required to investigate and typically responds within 30 days.

HOW MANY TIMES CAN I CHECK MY CREDIT SCORE WITHOUT IT HURTING?

HOW LONG DO LATE PAYMENTS STAY ON MY CREDIT REPORT?

WHAT SHOULD I DO IF I SEE AN ERROR ON MY CREDIT REPORT?

LESSONS LEARNED: THE IMPORTANCE OF CHECKING YOUR CREDIT REPORT

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