With several free Web sites that allow you one free credit report per year, you have no excuse not to get into the habit of an annual check. Reviewing your report once a year is the simple way to prevent unfortunate credit consequences down the road.

What is a credit report vs. a credit score.
A credit report is a written record of all of your current and inactive credit cards and payment history, as well as any credit inquiries that have been conducted into your account by creditors/loaners. A credit score is a literal number score that is based on your report history. While you are guaranteed one free credit report per year, you will have to pay to receive your credit score.

Why check your report and what to look for:
When you are applying for a loan, your credit report is the first thing that a lender will look at. You should know what they will see, and make sure it is completely accurate and updated. Errors in a credit report are surprisingly common, and when you discover a mistake you can simply call the credit bureau to report and fix the problem.
?    Make sure all of your credit lines are listed, and that there are no extra cards you have not authorized. Sometimes data from multiple reports can get mixed together.
?    Check your payment histories; occasionally credit companies do not accurately report payments or there is a technical error. If you see a discrepancy, address it as soon as possible.
?    As identity theft becomes more sophisticated and hard to identify in daily life, it is crucial that you insure there are no unknown accounts or activity on your report.
?    Keep up-to-date on how many inquiries have been made into your account (and make sure they are all by valid creditors you have authorized). Too many inquiries will begin to reflect negatively in your credit score, so you should always know where you stand before you authorize a new inquiry.

How to get a free credit report:
Several Web sites offer credit reports provided by the three approved consumer reporting companies, Experian, Equifax, and TransUnion, or you can go directly to those companies? sites. Annualcreditreport.com and Freecreditreport.com are both reputable venues for attaining your report. Beware of imposter and scam sites and pop-ups.

Good credit report means you can purchase a Boston condo. View Boston condos for sale at www.fordrealty.org

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