Payments, late payments, defaults, credit billing information, and personal information. It is
important to have a look at this document even if you do not have any substantial credit history to
ensure that the report is accurate and does not misrepresent facts. Another reason for keeping a
check is the prevalence of identity theft.
The credit report is an important document in today’s credit based economy, when most of us
own/use not just one but many credit cards. It matters a lot when you go to take loans and home
mortgages. This is because the interest rates on these deals are influenced by the soundness of
your credit history and credit score.
A free credit report is easy to get hold of. Have a look at it and browse through all the sections carefully. Make sure your personal, biographical records are accurate. Find out if there is any error in reporting bill payments you made to credit card companies or credit companies. If there are old records of defaults and late payments, find out if these can be removed.
Check your credit score against the average national score. If it is low, find out if that may affect the interest rates you may be offered. Find out ways of improving the scores from people who deal with such issues.
The three major credit bureaus offer paid credit reports with credit scores and other related services. Visit their websites and learn more about managing your credit history.
Identity theft has emerged as a modern white-collar crime. The criminal makes use of your identity to take loans or even get a job, and alters your address for correspondence so that all relevant mail is redirected to some other address. Keeping watch on your credit report can help you identify purchases you never made.