How often should I check my credit report?
How often should I check my credit report Answer: You should check your credit report at least once a year to make sure your identity has not been compromised. It’s a good idea to also check your credit report before applying for a loan, if you’ve been denied for credit, you think your identity has been stolen, or you’re plannig to repair your credit. You can get a free credit report each year by visiting www.annualcreditreport.com.
• Your credit history plays a major role when you apply for any type of credit or loan, such as a credit card, auto loan, mortgage, employment screening, utilities deposits and insurance. It is a good idea to know what is included in your credit history before applying for credit or a loan. Creditors and lenders use your credit history to determine if you are a credit risk. The most important thing you can do to demonstrate you are a good credit risk is to pay your bills on time.
I think you should check it a minimum of twice a year. As rampant as identity theft has become, I don’t think once a year is enough. Plus, as time goes on, it becomes harder to prove payments were not late, or accounts were not yours, etc. I personally have a credit report monitoring service. Any time someone makes an inquiry or posts an update, I get an email that lets me know about it. It only costs me $10/month and I have kept many new accounts from being opened in my name. It’s really a matter of personal preference, but I’m a firm believer in prevention instead of recovery.
