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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
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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:
Credit - Google News
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