How to Monitor Your Credit Score
Maintaining good credit opens the door for financing opportunities that include purchasing a home, vehicle and securing a loan. Overseeing your credit score takes diligence because one must maintain contact with the three major credit-reporting companies. Monitor your credit score in two ways. First, keep regular contact with the credit-reporting bureaus and second, contemplate the following suggestions.
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Instructions
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Contact each of the credit-reporting companies on a consistent basis. Equifax, Trans Union and Experian track consumer credit history and tally their findings into a credit score. Get a credit report from each agency to see where your credit ranks according to their tallying of your borrowing and repayment activity.
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Scrutinize the information in your credit report. Look for discrepancies and report anything that appears inaccurate. Contact the individual company to discuss the error. Since credit scores often determine loan interest rates, clearing up any mistakes is imperative to get the best loan rate possible.
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Consider the three bureaus as a defense mechanism to prevent identity theft. For example, quickly report stolen identification. Communicating with each of the companies initiates a process in which they closely monitor your credit report and notify you of any suspicious activity.
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Get knowledgeable about credit. Understand the basics to establish and maintain good credit. For starters, know how long information remains on a credit report. Generally, credit history stays on a report for about seven years and up to 10 years for bankruptcy. In addition, take advantage of the free credit report each company makes available to consumers every 12 months. Contact them to get a copy.
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