Oprah has AHA! and WOW! moments, sometimes I have DUH! moments. Here is my latest. I realized it was May and I had not done my annual check of my credit reports and FICO scores (I usually check them every January to start my year off right). I like to use annualcreditreport.com because it makes the process so simple. Here is a one stop shop to get your yearly FREE credit report from all three reporting agencies; EXPERIAN, TRANSUNION, and EQUIFAX. Just go to the site and follow the simple instructions. You also have the option of paying to get your FICO score from each agency ($6 - $8 each).
A couple of days later I was watching the TODAY show and hear Jean Chatsky mention that you should STAGGER getting your reports - one every 4 months - so you can keep an eye on any new negative or illegal activity. Of course! That makes so much sense. Keeping an eye on errors is a huge part of protecting your credit rating. According to a 2004 study (the latest available) by the Public Interest Research Groups, or PIRG, as many as 79% of credit reports have errors — 29% of which are serious enough to potentially result in a credit denial!
Click here for further information from SmartMoney.com about the importance of your credit report and how to improve it.
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