• When was the last time you checked your credit?

    Checking up on finances is just as important as getting regular health check-ups. Most people disregard the importance of checking their credits. It is imperative that you check your credit at least once a year to make sure that your finances are in order.

    Understand your credit reports

    When you get your credit report in your hands, you should be able to understand the implications of the various facts and figures in it. Read through the details and try to comprehend what it means. Try to find out how these details are involved in affecting the standing of your finances.

    The credit report contains the details of a personal nature and also shows you how you are going about spending your credit. It gives you valuable insight into your spending habits. Looking into the credit reports, will give you an idea of how banks, money-lenders and other financial organizations will view your reports and deem it as credit worthy or not. Credit scoring is what you need to be aware of. It is your credit score that helps you get lower interest rates and also better insurance. Handling your credit with discipline can help you get a higher credit score. Try to learn as much as possible about it, and ways on how to improve it.

    Try to make it a habit of checking your credit. You can know your credit score and find out your financial strengths and weaknesses. If you are well-informed about your credit score, you can work towards making it better. Clearing debts early, paying bills on time, and so on, add onto your credit score and puts you in a better position for getting a loan or applying for credit cards.

    Problems with your credit report

    Many a times you may find discrepancies with your numbers on the credit report, which you should report immediately. These errors could seriously interfere later on with your plans for applying for loans or insurance. Thus it is always advised that you check your credit at least once a year, to check for any errors that might have crept in. This way you get to report it well in advance and sort out any problems that you may have.

    There also the issue of identity theft, it may remain undetected for a long time if you don’t check your credit regularly. If you do your timely checks, such crimes can be detected at an early stage and can help in preventing the loss of your hard earned money.

    You are entitled to receiving at least one report a year for free. Make sure that you exercise this right, and use it to the maximum. You need to be fully aware of your financial behavior.

    It is important that you look into your report at least once a year. You need to go through it meticulously so as to identify any mistakes so that the right actions can be taken well in advance.

    My Financial Corner can help! Call now.


It's your right to have accurate information on your credit report!





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