![]() ![]() In a nutshell, your credit report includes everything that makes up your total credit score. If there is something you don’t recognize or that seems suspicious, it could be an indicator of identity theft. Because it contains all of your credit information and more, you can verify each creditor listed, each job you’ve had and each address that you’ve lived at. Perhaps most importantly, your credit report can be an early detector of identity theft or fraud. ![]() It’s also a handy guide in helping you tailor your financial choices for a better credit score down the road. By knowing where you stand credit-wise, you won’t be surprised if you are denied for a loan. You should also check it as a refresher on your total financial picture. A monthly monitoring fee will also be charged to your card if you do not cancel within a certain time period. BEWARE: there are similarly named sites out there that offer a free credit report, BUT you have to enter your credit card number, which will be charged $1 to grant you access to your report. Under the Fair Credit Reporting Act, everyone is entitled to one free credit report each year to check his or her financial health. All of these factors are used to determine your credit score, which your credit union, bank, or other companies use to make lending decisions for you.įirst of all, it’s free, so there’s no real reason not to check it. ![]() This includes your loans, past and current any credit cards in your name details regarding your credit cards and loans and any delinquencies or issues with your credit. Here’s a primer on what your credit report contains, why you should check it, and what to look for when you do.Ī credit report contains all information regarding your credit activity, credit history and credit status. As such it’s pretty essential to regularly evaluate your credit report. When you think about it, your credit report is probably the most important tool in your financial life: companies use it to make major lending decisions for you, it contains a wealth of your private information, and it can be vital to safeguarding yourself from identity theft.
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