Did you know you can get your weekly credit report for free until April 2021? Now it’s very easy to check your credit report on a regular basis, so here is what you should pay attention to when checking your credit report, and how to use it.
As you are looking through your credit report, make sure all your information is correct. You have to make sure your name, address, and employer are accurate.
When checking your weekly credit report, you are going to have to insert important information. The information you will be inputting is going to cover your finances to confirm your identity. Make sure you have your records on hand as you may need them.
Using Your Credit Report
Note that not all accounts may show up on all three reports. It depends on how creditors report data. Check for problems that could be listed. Use your credit report to make sure all information is correct, along with no discrepancies against you.
Any accounts payment modifications should be reporting as agreed. If your account was in good standing going into the agreement, and you are keeping up with things, it should be showing you as current on the report.
Fraud or Identity Theft
You could be a victim of identity theft or fraud if there are addresses you never lived at or accounts you have never opened reporting on your account.
Things That Impact Your Score
If you have been on time with payments, investigate that nothing is stating you were late. You may need to examine the account balance to see if it is error-free, as this can impact your score. Misspellings may not impact your score, but you may want to inspect the information to make sure it is precise.
Check for Errors
No matter the size of the error, it is worth disputing. You want all of your information to be faultless. If you see an error, do not hesitate to argue it, but have your records close for proof. With the weekly credit report checks, you can see a mistake almost as soon as it happens.
Printing Your Credit Report
You may print your credit report for your records, but it does use a lot of paper and ink. Look to see if there is an option to save the file as a PDF.
Credit Report VS Credit Score
Know that viewing your credit report does not show you your credit score. Your credit report lists all the accounts you have open and how they stand, whereas your credit score is calculated based on the information in your credit report. You may check your credit score for free from many personal finance websites, some banks, and credit card issuers.
It is always stressful being in debt and not knowing where you stand. Take advantage of the free weekly reports and give yourself some breathing room.