Money Saving Tip | Get Your Free Credit Report

Money Saving Tip - Inspect Your Credit Report

It’s on TV all the time, how important it is to know your credit.  Here’s why and how you can get the information for free.

Did you know that according to the US government  10 million credit reports contain errors that are serious enough to negatively impact your credit score?  That’s a very scary thought.  In addition,  credit fraud and theft is abundantant.  That makes knowing about your credit score extremely important.

A lower credit score can really cost you money.  You will end up paying more for your mortgage, insurance, car loan and more.

So what can you do to make sure you don’t loose money?

  1. Go check your Credit Report Now.  You can get one Free Per Year from each of the three major credit bureaus.  In addition, you can get Your Credit Score Monthly for Free from Credit Sesame.
  2. If you find errors, contact the credit reporting company in writing and explain what you believe to be inaccurate.  They are required by law to send you a detailed explanation within 30 days.
  3. Keep that documentation.
  4. If you aren’t satisfied with the credit companies explanation, you may need to contact an attorney.  Try the National Association of Consumer Advocates.

Even if you aren’t considering getting a mortgage in the near future, this is definitely something you want to do now.  If there are errors, it can take awhile to fix.  If you do it now, you will be in good shape when you do need to borrow some money resulting in $1000s of savings.

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