9 Year Mortgage Discusses: When to Check Your Credit and Why
Many people are unsure of when it is appropriate to check their credit report. 9 Year Mortgage recommends you check your credit score at least annually and in the following situations:
In order to detect identity theft early
If you’ve had a problem with identity theft in the past, 9 Year Mortgage advises you to check your report more frequently. Keeping an eye out for any changes will allow you to prevent further leaking of your personal information. You might also consider setting up an automated fraud signal and be on the lookout for your credit being pulled without your consent. Be sure to report any transactions that you didn’t make right away in order to repair identity theft before it ruins your credit.
If you haven’t checked your credit previously
In addition to checking for identity theft, 9 Year Mortgage suggests you look for errors made by the credit bureaus when they entered your information. If you haven’t checked your credit in the past, be sure to check for these kinds of inaccuracies and resolve them with the credit bureau as soon as possible. Most people have errors on their credit report and many of these errors are harmful when applying for credit later on unless caught early.
Before you get a mortgage or other credit
9 Year Mortgage advises you to review your credit with all three credit agencies before making a big purchase on credit. Having a clear picture of your credit history allows you to cleanup any unexpected revelations before they harm your upcoming transaction. Also, when you learn about your credit you gain insight about the interest rate you can expect. This information may cause you to reconsider your choice to take on more debt. With a credit score in the mid-seven-hundreds you are ahead of most Americans, but if your score turns out being below that taking time to repair your report may be the smartest thing you can do.
When you’re a co-signer
Making yourself a co-signer on your child or loved ones loan makes you accountable if the requirements of that loan are not met. Even though the other person made the purchase as a co-signer your credit will be tarnished by their nonpayment; On the other hand, if they make the payments on time your score can actually improve. 9 Year Mortgage encourages you to check your credit periodically to ensure the payments you co-signed for are made consistently and not hurting your credit.
When trying to elevate your credit score
In order to better your credit score take a look at all three different credit reports available. These reports will often come with advice on how better your score. Take the opportunity to look at each of your credit reports and examine the different aspects of your credit. The recommendations listed on each report will, if applied can radically improve your score. Keep an eye on your debt to credit ratio and eliminate debts that are bringing your score down.
Many people thing that checking your credit too often will decrease you score, but that is a myth. An individual reviewing his or her own credit information will not have any effect on the overall score. Knowing your monetary standing will yield extra savings in the long run. 9 Year Mortgage encourages you to take advantage of how simply you can access your credit information and staying informed.
Will The 9 Year Mortgage Plan Work For Me?
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