Why should you check your credit report regularly?

Seeing your credit report should be as routine as seeing your doctor few do so until they need that important loan. That is when most people learn of the glaring error on their report and are either charged a higher interest rate or are turned down altogether. It does not have to be that way.

To stay on top of your credit, it is essential to be aware of the contents of your credit report. Why? Because checking your report is the most convenient way to review your complete credit history, and make well-informed decisions on all your past, present and future accounts. Also, it's a good idea to monitor your report for new derogatory information and unauthorized accounts that might affect your credit.

Studies have shown that many credit files contain inaccuracies, which could influence the approval process when you apply for loans, insurance, or even a job. Often the result of simple human error, they can be caused by anything from a clerical error to a computer glitch in which your file is mixed with that of someone with a similar name.

Top Reasons to Stay Aware of Your Credit

• Your credit report can change - and change your credit score.
• Your credit report and score are used to make decisions about loans, interest rates, even employment.
• If your credit score drops - you can find out why and how to improve it.
• Inaccurate information can hurt your credit score - you can verify the accuracy of your credit report.
• Activity in your file, which you did not initiate, can be an early warning sign of identity theft.