You’ve tackled the taxes, made your list of spring cleaning projects, and maybe you’ve even started thinking about what you might plant now that the snow is melting. But I have one more spring project for you: checking your credit report. It’s good for your financial health, and it’s free.
You might be surprised at what’s in
your credit report: details about your loans or credit — from home loans to
store credit cards — and whether you’re behind on any bills. It also shows
whether you’ve been sued or arrested, or have filed for bankruptcy. The three
nationwide credit reporting companies sell information from your report to
lenders, employers and other businesses that consider your applications for
credit, work or renting a home. So, if you’re planning to buy a car, get a
loan, or apply for a job, it’s time to see what’s in your report.
Under federal law,
you’re entitled to one free copy of your report from each of the three
credit reporting company every 12 months. Go to annualcreditreport.com to
order. When you order is up to you — order all three at once, or request one
report every few months. Financial advisors say spreading your requests over a
12-month period is one way to monitor what’s in your reports and possibly spot
problems.
Your Source for a Truly
Free Credit Report? AnnualCreditReport.com
Once you have your
report, read it over to see if it’s correct. If you notice something that
doesn’t look right, contact the credit reporting company and the business that
provided the information. Checking your report also can help you guard against
identity theft. Visit ftc.gov/idtheft if you spot accounts that aren't yours.
This article originally appeared on
FTC.GOV, by Bridget Small
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