credit reportWith the holiday season coming up you’re going to be spending a lot of money, presumably most of which will be on your credit cards.  This means it’s the perfect time to get your credit and finances are squared away.  Unfortunately, most people rarely consider their credit score unless they happen to be applying for a loan or other line of credit.   It’s one of those “out of sight, out of mind” things.  However, this attitude could get you into a lot of trouble. The first step, check your credit score and reports.  It’s relatively easy and free.

Our credit reports are among the most important financial documents we have, so it’s important to check them regularly to keep your financial ducks in a row.

By checking your credit reports regularly, you can detect instances of reporting errors and even worse, signs of identity theft.   The law states that you are legally entitled to a free credit report once per year.  There are 3 main credit bureaus which you can be checking your credit score with, Experian, Equifax & Trans Union.

They all have a process for correcting any mistakes you might find on your reports.   Make your request in writing to have the errors fixed and make sure you follow up.  You want to make sure you get the error corrected or removed, because if you don’t and it’s still on your credit report, your score will be negatively impacted.  This will make it more difficult to obtain loans and competitive interest rates.   You can visit www.annualcreditreport.com to access all 3 of your credit reports, once every 12 months.

Ultimately, your credit report and the information it contains is like your financial resume and the information on it can either help or hurt your family.  The first step to getting your finances in order is to check your credit score and report now.