Do you Know the Benefits of Checking your Credit Report?

Do you know why you should check your credit report?

Of course you do, because you have undoubtedly experienced one working in your life!

No matter where you roam, your credit report follows you through life, updating all aspects of your life: your employment, where you live, your opened credit accounts, your closed accounts, your payment history, and even public records on you.

In this country, a good credit history brings you benefits of all kinds--a home mortgage, an apartment lease, an auto loan, or even more credit--with ease.

Like a job resume, your credit file carries a lot of weight, that's why you need to keep an eye on what it says about you.

Many options are cut off to you if you do not look "credit worthy" on paper. A bad report can mean higher rates on loans and insurance. It can also mean whether you get hired or promoted by a growing number of employers who now use them in the evaluation process.

Even if you think you have a good credit standing and you pay your bills on time, you still need to review your credit file for accuracy.

Studies have shown that credit files have an error rate as high as 70%, often the result of simple human or computer error.

Sometimes these errors show you being late in paying your bills when you are not. Your file might even leave out information that could sway a decision in your favor. The most common error is where damaging information of another person, with a similar name or account number, is mixed into your profile.

Monitor your personal credit file so that you are alerted whenever negative or derogatory items are reported against you.

A neglected credit file can lead to some major inconveniences in your life in the future.

You should fix mistakes or remove any incorrect information as soon as you find it. Errors that creep onto your report take time to correct. Catching these mistakes when they occur helps resolve them faster.

When you improve your credit worthiness you can qualify for better rates - which adds up to big savings for you.

Even if you think you have an unblemished past, checking your report lets you know what a future lender or employer will learn about you.

If your credit report is less than perfect now, you can deal with lingering problems effectively, and move towards a better credit standing in the future.

A good credit rating means more money in your pocket and less out the door!

** Attn Ezine editors / Site owners **
Feel free to reprint this article in its entirety in your ezine or on your site so long as you leave all links in place, do not modify the content and include our resource box as listed above. If you do use the material please send us a note so we can take a look.

Thanks,
Mary

(c) Mary Arce - All Rights reserved

Mary Arce is a consumer advocate and author helping Americans solve their credit problems and save massive amounts of money on mortgage and credit card interest. WHY are some people getting RICH managing their debt?

My email address: wealth@1st-wealth.com
Website: http://www.1st-wealth.com

Article is also available by email - send blank email to: checkreport@1st-wealth.com

More Resources

Unable to open RSS Feed $XMLfilename with error HTTP ERROR: 404, exiting

More Credit Information:

Related Articles

Know Your Credit Card Rights
When you apply for a credit card, the application that you sign is also a legally binding contract laying out all the termsbetween you and the bank, such as the interest rate and how its calculated, the grace period, whether there's an annual fee, etc.While you have to agree to the terms and sign if you want the credit card and while the lender will certainly hold you to the terms, the lender doesn't feel similarly committed.
Credit Repair Myths and Facts
There are no secrets to repairing your credit. Many shady credit repair agencies would love you to think the contrary.
Credit Establishment 101
There will come a day when you need credit. You may want to buy a home or a car and your credit rating will become very important to help make these dreams come true.
Five Reasons to Repair Your Credit Score - You Can Do It Yourself
There are multiple reasons that tell us why we should have a 700+ Credit Score, but these five facts will definitely give you the big picture and hopefully will drive you to want to fix your credit score starting today.Fact #1: Did you know that consumers with Credit Scores of 700+ are likely to get interest rates up to four points lower than those with scores under 640.
How did a Thief get my Name? Don't be a Victim of Identity Theft
How do these people get my name? If you have a credit card, your name is sold to third parties, if you do not want this to happen, you must contact your credit card companies to inform them that you do not want your information sold. Check the privacy notice that comes with your bill.
The Three Largest Factors In Your Interest Rate
There are three major factors that affect how much you pay for a loan. Understanding these factors can save you time, money and frustration.
Lower Your Credit Card Interest Rate Now!
With today's credit card companies, there are many opportunities to get your cards rate of 21% or more reduced. The higher the amount of interest your card charges will cost you more for a simple purchase and ultimately may take you years to pay off instead of months, should you make the minimum payment allowed.
Ways to Look Good without Selling Your Soul to the Credit Card Sharks
1. Buy clothes at thrift stores.
7 Compelling Reasons Why A Prepaid Debit Card May Be Just The Financial Tool You Need
Prepaid debit cards are great financial tools and may be just the financial tool you need. Here a seven compelling reasons why:1.
How to Improve Your Credit Rating
So you got into debt, had problems but you got yourself back on your feet through hard work and sacrifice and how are you rewarded? A Bad Credit Rating.You would be forgiven for thinking thats not fair and why did you bother sorting yourself out if your hands are still tied when it comes to applying for anything financial? There are ways to improve your credit rating and get back on track completely.
5 Killer Steps to avoid Credit Card SCAMS!
In August, 2004, the Federal Trade Commission issued their findings of a recent study, which showed that nearly 25 million adults were victims of fraud.Now, most importantly, If you are a victim of fraud, please do not feel like you did anything wrong.
Beat Credit Card Companies at Their Own Game!
Have you ever wondered how much money a credit card company makes? Have you ever wondered how much of that comes from late fees? Everyone has and if you haven't you should because most likely you own a credit card, which means that these late fees has or could directly affect you.As you have probably taken notice, credit card late fees are on the rise and have been so for awhile.
Keep Your Credit History Clean - Remove A Negative Credit Record From Credit Report
The three major credit bureaus, Experian, Equifax and Trans Union are similar and feature a "Credit Score", which is created from credit report data submitted to them about you.But very often your credit report includes inaccurate, wrong or incomplete information (credit records).
Good Credit -- Essential for the Prospective Home Buyer
Credit is a funny thing. It can be a useful tool in the hands of an informed individual, or a weight of burden to the unsuspecting.
Save Money and Lower your Payments by Improving or Repairing Your Credit
Having a better credit score not only represents easier access to money from lending institutions, but more importantly represents instant money in your pocket.This probably sounds like something obvious for most of people, but it isn't until you start thinking in terms of real examples and real dollars that most of us start to understand the magnitude of the benefits associated with a good credit score.
Tired Of Being Broke?...Learn How To Force Banks To Give You Money!
Imagine..
What is a Credit Card?
A credit card allows you to buy things even though you might not have the money to pay for it right away. The company that gave you the card lets you spend up to an agreed sum and then makes additional money available to you as you pay off what you've spent.
Credit Report - How to Improve Your Credit Score
One of the great mysteries of life is how the three major credit bureaus (Experian, Equifax, and Trans Union) score credit. They all have secret statistical formulas for determining your credit score, but they are unwilling to divulge exactly what, exactly, constitutes your score.
Choosing The Best Credit Card To Apply For
Always shop around to get the best deal when choosing which credit card to apply for. If you don't do your due diligence you could end up with a card that has too high of an interest rate, that has an unnecessarily high annual membership fee, etc.
Why Credit Cards are a Bad Idea
Credit cards are just so convenient, aren't they? There's no need to carry any money with you ever again: you can just take one with you to the shop and pay the exact amount just by handing it over. If you haven't been paid yet, then you don't need to worry, because the money will still be there.